For some time, organizations have taken advantage of HR technology to automate a range of workforce management activities, from hiring to managing payroll. And as HR tech capabilities have expanded, it’s become clear this technology is not only here to stay, but it is a necessary requirement for the efficient operation of any HR department.
HR technology can include everything from tools for applicant tracking, chatbots to answer routine employee questions, and AI-enabled advice to help employees select benefits during open enrollment. Given all of its capabilities, it’s no wonder organizations’ investment in HR tech has taken off, increasing by 57 percent in 2021 compared to 2020.
Here are some of the top ways HR technology can help your business manage talent more effectively:
Through the employee lifecycle, your organization collects a great deal of information about your employees, including pay, benefits, training, performance, and other data. HR technology captures that data and organizes it in a way that helps you understand your workforce better. With access to reports and analysis, you can design HR programs and activities to meet your employees’ needs.
For example, using an HR information system delivers information about employee turnover, so you can understand the rate at which you are losing employees and take action to improve retention. It can also help you measure employee time and attendance, so you can identify and address issues related to absenteeism and excessive overtime.
Managing a workforce today also means navigating the dozens of federal and state labor laws that impact how you hire, pay, and communicate with your employees. Thankfully, most HR technology platforms can be easily configured to help you operate compliant workforce management processes. For example, a robust time and attendance program can help you accurately track working hours and support compliance with Fair Labor Standards Act (FLSA) overtime requirements. You can also rely on HR technology to help you track employee benefits eligibility in compliance with the Affordable Care Act (ACA).
Without HR technology, employees must go to someone in HR to get forms and answers to routine questions, which can be time-consuming for HR and your employees. But with HR technology featuring employee self-service capability, employees are empowered to get the information they need when they need it. Instead of going back and forth with HR over voicemail and email, employees can access information and forms, such as W-4s, benefit summaries, and 401k plan enrollment documents from any device.
HR technology allows HR professionals to say goodbye to manual, paper-based processes, saving time and allowing them to focus on more value-added work. A key example demonstrating the time-saving impact of HR technology is recruitment. Today’s applicant tracking tools allow recruiters to capture employee applicants and resumes, share them with others internally, and add comments as candidates move through the interview and selection process. No more paper resumes with comments jotted down in the margins. Instead, recruiters can manage as many candidates as they can handle, and know where each is in the interview process in just a matter of clicks.
According to North One research, more than half of employees (58.6 percent) work remotely due to the COVID-19 pandemic. Given that many may remain working from home, it will be critical to have digital tools to manage what may be an increasingly dispersed workforce. HR technology supports remote and hybrid employees by making HR resources more accessible to them. Some examples of HR tech tools that can support the hiring, development, and engagement of employees, regardless of location, include the following:
● Digital employee onboarding tools
● On-demand e-learning resources
● Engagement pulse surveys employees can complete from any location or device
HR technology makes candidate and employee data more digestible, so you can understand your workforce better and design programs to meet employee needs. By adopting tech solutions to help you hire, pay, and manage employees in every location, you no longer need to risk getting lost in a sea of paperwork.
Whether you’re looking for a new HR technology solution or you want to use your existing system more effectively, MarvelHR can help. With a dynamic, cloud-based solution, integration options, and available training for you and your employees, we can help you streamline HR processes and get the most out of today’s digital HR solutions. Contact us to learn more.