Exploring the Landscape of HR Technologies in 2023
Updated: Sep 2
In Gartner's recent survey on HR leaders' top investment priorities for 2023, technology emerged as the foremost concern for almost half of the leaders surveyed. Today's HR leaders recognize the need to embrace new technologies that will help them meet their organizational goals, and utilizing HR software tends to outperform those that do not.
In terms of HR technology trends in 2023, it becomes apparent that the domain of HR technology is experiencing an unprecedented boom. Almost every day, a new player enters the market, resulting in an overwhelming array of HR tools and workplace systems. In this environment, leaders often find themselves unaware of the full range of available options, leading them to default to what is readily visible.
But what exactly is an HR tech solution? These solutions encompass software, digital platforms, tools, and cloud-based technologies that securely store data, automate daily processes, and provide analytical tools for making strategic decisions. Digital HR platforms effectively manage critical HR functions such as wages, benefits, recruitment, onboarding, productivity management, employee communication, and development. By automating these processes, valuable time and resources are saved, while also reducing the likelihood of human error and associated costs.
Let's explore some intriguing trends within the HR tech landscape:
Internal Talent Marketplaces -
These systems facilitate the matching of workers with internal job openings, side gigs, or projects, while also offering opportunities for mentoring and career development. HR and organizational leaders can leverage the data generated by these marketplaces to support workforce planning and talent processes. Employees benefit from increased visibility into available opportunities and the ability to build skills and experiences that contribute to career growth. Managers and project leaders benefit from enhanced staffing flexibility and improved talent visibility.
Establishing a Single Source of Truth -
Enabling self-service options for employee requests and providing timely and accurate responses to internal customers are crucial aspects of modern HR. Deploying tools like employee portals, knowledge management systems, and case management platforms empowers HR teams to focus on high-value and strategic activities.
New Applications of AI -
As HR departments strive to achieve more with fewer resources, the use of AI extends to various domains, including recruiting, identifying skills gaps, analyzing engagement survey data, and addressing frequently asked employee questions. AI enables the analysis of worker data beyond traditional demographic and performance metrics. HR departments increasingly view workforce data as a strategic asset, guiding key business and talent decisions such as upskilling, scheduling, and staffing.
Employee Experience -
C-level leaders are increasingly prioritizing the employee experience as a strategic objective, moving beyond its confinement within the human resources silo. HR must align its technology systems with the fundamental principles of an employee experience strategy. More companies are integrating the employee experience into IT, operations, finance, and facilities strategies. HR leaders will leverage new technologies that prioritize the individual employee experience, ultimately enhancing overall employee satisfaction and engagement.
Recruiting Tech -
Recruiters are utilizing evolving AI tools to streamline candidate screening and interview scheduling, employing programmatic advertising, and leveraging employee-generated videos to attract candidates in the highly competitive recruiting landscape. Video-based communication, programmatic advertising, and marketing automation tools assist HR and talent acquisition leaders in enhancing long-term employee development and retention, ultimately improving the efficiency of top-of-the-funnel recruiting processes.
Employee Learning and Development -
In today's HR tech landscape, Employee Learning and Development software has emerged as a significant trend for organizations aiming to upskill their workforce and drive business growth. With a growing recognition that salary and social benefits alone are inadequate, there has been a shift towards prioritizing employees and investing in personal development programs. These software solutions offer centralized platforms that streamline the delivery and tracking of training initiatives, creating a culture of continuous improvement and fostering professional growth.
Embracing HR technology is no longer an option but a necessity for organizations to thrive in the current business landscape. It's crucial for HR leaders to recognize the significance of this paradigm shift. By leveraging suitable HR tech for your organization, you can enhance employee skills, attract top talent, and retain valuable team members. The adoption of HR software and digital platforms not only streamlines processes and saves time and resources but also fosters a culture of continuous improvement and professional growth.
We are MPL Innovation, a boutique innovation consultancy.
Our mission is to empower our clients by propelling their corporate innovation initiatives to new heights.
With our specialized innovation consulting services, we assist organizations in surpassing their boundaries and unlocking unprecedented growth opportunities.
Follow us ➡️ HERE