Given the Covid-19 situation, many of the best small business ideas for 2022 have started to involve an online business model. With the pandemic still looming over our heads, so much has to still change about how people consume products and services. When the world was forced to shut down, HR tech solutions helped companies keep the show running.
With technology and regulations continuing to evolve, digital transformation in the HR industry is truly shaping the workspace landscape of 2022 as well by providing exciting opportunities for new ways of working. Additionally, the shift in the work patterns due to tech intervention have left some space for HRs to take on more strategic roles, thus boosting the overall productivity.
Advent of New Technologies
Massive metamorphic change across the HR industry has occurred with the advent of the latest and emerging technologies like web 3.0, AI, Robotic Process Automation etc.. With the availability of specialized tools based on these technologies, HR personnel have shifted their focus to strategic decision-making instead of spending many hours on mundane tasks which eventually helps produce more result-based performance analysis compared to earlier times.
With the ongoing tech evolution in the HR industry, the HR sector will integrate more AI tech tools into all HR processes over the next 5 years.
Manages Employment/ Company Performance
Effective and continuous feedback holds crucial importance for the development of any company and that’s where tech-based performance and feedback management tools come into play. Keeping the employees at the centre, these tools are designed to maintain transparency; enabling employees to streamline their tasks and prioritise better. Therefore, HR Tech is helping organizations uplift the overall output of the workforce.
Although things are gradually moving back towards normalcy, work-from-home and hybrid models have become the norm for many organizations, in order to attract and retain talent who value location freedom. Keeping employees engaged and productive has become the priority.It was already a challenge, and has become more so, with a distributed and remote workforce.
Training and developmental practices are becoming much more personalized than before, and are made available easily online. New age HRTech companies are providing an array of modules to meet different requirements right from collaboration to employee engagement and work monitoring.
Diversity and Inclusion Initiatives
As per a Glassdoor survey, 3 out of 4 job seekers look for an inclusive and friendly workplace when evaluating which companies to apply to. Many organizations have recently understood this trend and have successfully capitalized on this opportunity by being able to attract, develop and retain good and diverse talent, by changing their workplace dynamics. However, probably the best outcome of the entire tech disruption is that in a country like India, the youth can now avail job opportunities in metros cities from the comfort of their home in tier 2 or tier 3 cities. All this together amounts for a sea size change in the living standards of people, and the rising costs in the metros, and it will be safe to say that the trend is going to live for longer.