Human resources professionals have long been juggling multiple hats and ever-growing to-do lists. Many of these HR tasks are tedious administrative tasks that waste valuable time. Unmanaged, the extensive list of HR responsibilities can leave your team feeling burnt out.
To reduce the administrative burden on HR teams, many businesses are looking for innovative ways to streamline the HR processes. Software can help HR teams increase efficiency, reduce costs, and dedicate their time to other important tasks that can’t be automated.
“These technologies should essentially be making jobs easier, not harder,” says Barry Cooper, President of NICE. “By implementing robotics to take care of all the mundane and repetitive activities, employees are freed up to actually do a better job of their most important tasks.”
Today, we’ll be discussing the top HR technology trends to leverage in the coming years.
First, what is HR technology?
Human resources (HR) technology is any software that automates HR processes. Since the field encompasses so many different functions, HR technology is a wide umbrella term, helping teams with anything from payroll, to talent acquisition, to benefits administration. These technologies help HR teams avoid time-consuming tasks that don’t require high-level thinking.
Modern HR technology, or “HR tech,” has been around since the 1990’s, but like any other tech field, it’s constantly evolving. There are always new trends to be aware of, and staying up-to-date can be challenging. That’s why we’ve compiled the top four HR tech trends that can help your team in the coming years.
Top four HR tech trends
Applicant tracking system (ATS) recruiting and hiring
An applicant tracking system (ATS) automates and simplifies recruiting and hiring processes, reducing time-to-hire. Time-to-hire is how much time passes between when an applicant applies, versus when they get hired. 94% of recruiters say that an applicant tracking system has positively impacted their hiring process, simplifying:
– Job postings
– Candidate management
– Recruitment process optimization
– Pre-screening candidates
– Screening candidates
– Job offers
– Employee onboarding
Applicant tracking systems help HR teams spend 20% less time on hiring, but more importantly, it helps improve the quality of the hire. 78% of recruiters say an applicant tracking system helped them improve the quality of candidates hired—meaning increased productivity and boosted retention.
Given all the benefits of applicant tracking systems, it’s no surprise that over 98% of Fortune 500 companies use them. As applicant tracking systems evolve and become more effective and efficient, they’re certainly an HR tech trend to leverage in the coming years.
Prizes & rewards
Amidst the Great Resignation, retention has been a huge issue in many companies. 47% of HR professionals say retention and turnover is their top challenge, but 68% also say that offering rewards positively impacts retention. However, rather than adding rewards as another task on your HR to-do list, you can automate the entire process.
One way to automate prizes is by charting birthdays, work anniversaries, and an objective pointing system. No matter when you decide to reward your employees, make sure it’s personal to them. 85% of employees prefer individual incentives, rather than group incentives.
Another way to make prizes effective is by making sure employees have a choice of their reward. 84% of remote workers say they prefer their rewards in the form of a gift card. A prepaid option is simple and easy for HR teams, plus it gives employees a choice of how to spend the money.
With rewards programs, consistency is key. Companies that recognize their employees multiple times a month are 41% more likely to see boosts in retention. If your company is having any issues with retention, an automated reward system is a tech trend to take advantage of.
Virtual mental health benefits
Mental health also impacts retention. In 2021, 68% of millennials and 81% of Gen Zers left their role due to mental health reasons. If employees don’t quit due to mental health issues, companies can expect to see an increase in absenteeism, which costs about $3,600 per year for each hourly worker. Overall, 54% of employees are concerned about their mental health.
As mental health issues among employees continue to increase, 41% of HR professionals feel their company doesn’t offer enough mental health support to employees. “Employers should think of the mental health safety of their employees just as they think of their physical safety,” says Raeann Burgo, a Fisher Phillips attorney based in Pittsburgh.
Offering sufficient mental health benefits shows employees you value them and their overall well-being. To make these benefits even more convenient and accessible, consider offering virtual mental health benefits. In May of 2022, 87% of mental health appointments were virtual. We expect to see more employers offer virtual mental health benefits in the coming years.
Benefits communications
When you’re offering mental health benefits—or any other benefit, for that matter—it’s imperative to focus on benefits education. Benefits communications help employees understand what benefits are available to them, which benefits they should select, and how to use them.
When employees are satisfied with the frequency and clarity of benefits communications, they’re 177% more likely to feel holistically well. This helps companies avoid high rates of turnover, absenteeism, and low productivity. Employees who understand how their benefits work through communications are 78% more likely to be happy with their job.
Although benefits messaging is extremely important, they’re also time-consuming and challenging, especially for HR team members who weren’t trained in communications. Yet even still, 41% of employees say benefits communications are too infrequent.
Given the high-volume workload of benefits messaging tasks, combined with the need for more communications, we expect to see a growing number of employers rely on automation to create happy, healthy employees.
A one-stop benefits education site
If you’re looking for a tool to help you automate benefits education, LearnYour Benefits is here to help. Our easy-to-use platform is a one-stop benefits education destination, helping employees find the information they need to feel their best. LearnYour Benefits helps your team automate year-round benefits communications, meaning more effective messaging with less work.
If you’re interested in learning how to help your employees take advantage of their benefits, schedule a demo today.
