For the last decade, if not slightly longer, technology has changed and evolved at a rapid-fire pace. So, it’s no surprise that technological advancements are beginning to find their way into human resource departments, with top HR officers discussing their potential. In this post, we look, in-depth, at the top three HR technology trends on the scene this year.
1. Blockchain Technology
What It Is
Blockchain technology is the technology that supports bitcoin. It’s an encrypted public records ledger that’s organized using groups of information distributed over multiple networks. Basically, it offers a way to store information about people, securely and confidentially, after they’ve agreed to have their personal information stored and accessible through the technology.
Why It’s Trending—The Benefit(s) for HR
The biggest benefit of blockchain technology for HR professionals is its ability to make the responsibilities of an HR employee easier to execute. For example, using blockchain technology, HR managers could automate the process of verifying a candidate’s credentials, reducing the time it takes to authenticate candidates, and eliminating the need to reach out to multiple sources as part of the verification process. For businesses, this means a quicker time-to-hire.
Additional benefits offered by this technology include:
• HR can keep employee health records on file and make them available to physicians and insurance companies with the permission of the individual employee—this could make managing employee healthcare much more efficient.
• Reduced fraud—having accurate details in one place makes it easier to detect discrepancies in a job candidate’s resume and blockchain file.
• Payroll managers can simplify and standardize international payments, eliminating the need to go through multiple banks and third-parties.
• HR officers could use blockchain to verify a job candidate’s skills and abilities, making it possible to verify that the top candidate is indeed capable of doing the job.
Who’s Using It?
Several companies are already using blockchain, though admittedly initial uses of the technology seem to be centered on payroll.
Important Considerations
It’s good to be wary of any technology that collects personal data. Here are a few things to consider about blockchain technology. First, once data is uploaded to blockchain, it can’t be deleted, though individuals can add to existing data. Second, before any new information can be incorporated into a block, everyone associated with that block must agree to the addition. Third, multiple individuals—from job candidates to schools to employers—can add data to the chain.
Our Prediction
The Wall Street Journal, Microsoft, and IBM have invested in blockchain, and dozens of financial institutions currently use the technology. We think blockchain technology has a strong likelihood of being picked up by medium to large businesses for payroll purposes, initially, though we think businesses will begin to use the technology to verify job candidates and, potentially, manage healthcare records.
Our Recommendation
HR officers will probably at least want to learn more about the technology, what it does, how it works, and whether it’s worth investing in over the next year or so—because it seems to be the direction the future is heading.
2. Alexa for HR
What It Is
Conversational platforms for HR are a hot trend right now, and you can think of them like Alexa or Siri but for HR. Conversational platforms will make it possible for employees to “communicate” with HR through the platform, eliminating the need to use an intranet.
Why It’s Trending—The Benefit(s) for HR
HR professionals wear many hats—too many most of the time. Conversational platforms offer HR managers the opportunity to reduce the amount of work on their plates; namely, the hundreds of administrative details that HR deals with daily.
For instance, a conversational platform could “converse” with an employee who needs to request a vacation day. It could also cancel meetings, request manager approval for PTO, and file PTO. The platform could also answer employee questions about the status of their 401k, tell them when they’re due for a raise, book flights and hotel rooms for employees on company travel, and more.
Essentially, conversational platforms will help HR professionals increase their productivity.
Who’s Using It?
Hundreds of HR professionals are probably already using a conversational platform like Alexa or Siri at home, but more and more are beginning to use it at work as businesses adopt the technology. Versions of this technology are currently being tested.
Important Considerations
As with any digital device, privacy is usually a concern. Businesses will want to take steps to protect sensitive data communicated across the platform. This may require employees to be trained on how to use the technology in such a way that privacy is maintained. Businesses may also want to consider what permissions conversational platforms are given and the settings the technology uses.
Our Predictions
It’s probably only a matter of time before businesses begin to rely on conversational platforms instead of intranets. This year we will probably see more conversational platforms being created and tested and in the next five years, more companies will look to adopt the technology.
Our Recommendation
If your business is an early adopter of technology, this would be a fun and useful technology to integrate. However, if you’re hesitant, or if you would like to learn more about this technology—maybe see how it works for other businesses—keep an eye on the trend and let others test drive it, and when the kinks seem to be flushed out, give it a whirl.
3. Virtual Reality
What It Is
Most people have a sense for what virtual reality technology is. But, for those whose notions of virtual reality are hazy, here’s quick explanation. Virtual reality technology creates a computer-generated 3D environment with which we can interact. Pop on a helmet—there’s a screen inside it, and put on gloves fitted with sensors, and you’ll be in another world, and capable of interacting with what you see.
Why It’s Trending—The Benefit(s) for HR
The most obvious benefit of virtual reality technology for HR is training. Virtual reality technology makes it possible to train employees to perform new skills in a life-like environment. This could reduce the need to send employees out for training, alleviating several administrative details that would otherwise have to be completed.
Another benefit of virtual reality technology for HR is performance evaluations. Asking employees to perform certain tasks in a virtual environment offers an objective way to test and evaluate skills, abilities, and progress. This can make performance evaluations more objective, and it can help HR to decide where to direct training resources.
Who’s Using It?
Virtual reality technology is still in the process of entering consumer and business markets. Though every once and awhile we hear of exciting developments in the field of virtual technology. For example, Intel, the company responsible for this year’s Winter Olympics drone light show, recorded 30 events in virtual reality with plans to broadcast them in the U.S. and Europe so that fans can watch their favorite Olympic events from the perspective of an Olympian—skiing down moguls, flying hundreds of feet into the air, racing on ice, and more.
Important Considerations
There are a variety of concerns regarding virtual reality. For example, ethical use of virtual reality is a topic of hot debate. However, for HR departments that will be more likely to use virtual reality as a training and performance evaluation tool, the concerns are different. They center on motion sickness and disorientation. It’s possible that employees will have different physical reactions when using virtual reality technology. Many will likely be fine, but some may experience a version of motion sickness.
Our Predictions
It’s a bit surprising that virtual reality has taken so long to infiltrate the consumer market. That said, we think that, in many ways, virtual reality will be more successful as an HR tool than as a consumer entertainment product. We’re excited to see how the technology will revolutionize various HR functions like training, skill development, and testing.
Our Recommendation
Keep an eye on developments in virtual reality technology and consider how you might incorporate the technology in your HR department. As the technology is perfected, it’s likely that concerns about motion sickness will diminish, and you’ll have a great tool on your hands.
Support for HR Professionals and Departments
New technology can feel overwhelming, especially when you’re the one tasked with investigating it, keeping track of new developments, and recommending uses for innovative solutions. But, you do have support. We help connect HR professionals to the technological solutions they need today to accomplish tasks related to payroll, benefits administration, healthcare, Clarity Benefit Solutions commuter benefits, commuter benefits administration, and more. Learn how we can help by visiting our website today.
Sources:
1. https://www.shrm.org/ResourcesAndTools/hr-topics/technology/pages/is-hr-ready-for-blockchain-technology.aspx
2. https://www.shrm.org/resourcesandtools/hr-topics/technology/pages/artificial-intelligence-comes-to-hr-as-a-conversation.aspx
3. https://blogs.sap.com/2017/01/31/driving-conversational-hr-with-the-new-sap-successfactors-slack-bot/
4. https://arpost.co/2018/02/22/virtual-reality-technology-brings-winter-olympics-closer-us-ever/
5. https://www.theguardian.com/technology/2016/jan/07/virtual-reality-future-oculus-rift-vr
