Digital disruption is creating new opportunities for innovation with technology. A combination of market forces, competitive forces and technological forces are responsible for the disruption. Top tech trends in HR range from robotic transformation automation (RPA), HR analytics, workforce planning and optimisation, talent management and learning and development. The HR tech field is also getting reshaped in the areas of payroll management, recruitment, remote workforce and employee wellness. This new HR technology will be transformative: it can increase efficiency, compress time-consuming processes, improve company productivity, forecast workforce demand, and help to solve the issue of employee retention, to name just a few of the benefits.
- According to a Harvard Business Review, 72% of businesses believe they are susceptible to digital disruption in the next 3 years, but only 14% believe they can act quickly enough to compete against it. Given the range of challenges firms may encounter in the drive for digitalisation, HR technology holds a great deal of promise on the future world of work.
- Interestingly, a survey by G2 Crowd on 2019 Employee Engagement Trends, found that 80% of HR employees surveyed found that using HR technologies improved employee attitude toward the company. This suggests that HR solutions can have an even greater impact on a business, beyond helping a firm maintain a competitive edge, innovative technology empowers a company culture to thrive.
Augmenting human capital solutions with truly intelligent technology
DecodeHR is pleased to have been a part of the IBM Solutions Expo on the 29th January 2019 at Marina Mandarin Singapore. This opportunity enabled us to showcase the full potential of IBM Watson Talent Frameworks, IBM Kenexa Employee Assessments and IBM Watson Career Coach. It was clear from the high interest level among attendees in HR technology that there is a strong demand for leveraging intelligent digital platforms and using AI to change the way we work. DecodeHR, together with our partner IBM, is excited to see companies flourish and thrilled about new opportunities to combine talent and technology to provide smarter HR solutions.
Given the ever-increasing pace of digitalisation, companies face a great opportunity to rethink every aspect of their business to achieve success. At the IBM Solutions Expo, speakers shared on how the need to act has become more urgent, and offered some human capital solutions. For example, AI technology can be utilised to provide insight on talent ability and fit, improve employee engagement and retention, and also accelerate productivity. DecodeHR agreed on the importance of building the right ecosystems and forging new or deeper industry collaborations in this age of unprecedented digital transformation.
Advances in technology such as artificial intelligence, data analytics, robotics, Cloud, Blockchain and the Internet of Things (IoT) are changing the way we do business. DecodeHR strongly recommends that companies should have a plan for the new digital age, regardless of the industry. There are huge gains to be had from harnessing HR tools to streamline HR processes and improve the employee experience.
If you are keen to know more on how DecodeHR utilises IBM Watson Talent Management Solutions - built for the era of AI - feel free to drop us a line.