Posted by famous
February 24, 2020

HCM Software: Emerging Trends 2020 in small and mid-sized companies

“Change is the law of life. And those who look only to the past or present are certain to miss the future.”

We live in an era of constant innovation and change, and this is true for HR Software as well. Organizations can’t afford to employ outdated systems and software to discover, engage and nurture top talent.

Read on to know the top emerging trends in HCM Software & systems in the small and mid-sized companies –

Increased Automation and Artificial intelligence

Businesses are stepping up their game in automation. Artificial Intelligence (AI) is helping them to achieve this.

Automation and AI is increasing in every HR function – from Recruitment to Exit. More and more companies are adopting HR software such as HR chatboats which help them in employee induction/ providing information/ grievant handling/ answering to employee queries etc.

The use of automation and robotics to handle routine and repetitive HR tasks is set to grow. AI is helping the HR professionals to streamline the processes so that the HR team can devote more time to the human-centric tasks.

Recruitment Software to remove unconscious biases

Recruitment is an important function of HR and it was among the first few functions which was digitized.

The recruitment software is not only helping to increase the speed of recruitment but also to increase effectiveness by removing unconscious biases.

To reduce the prevalence of unconscious biases such as Gender bias, Racial bias, similarity bias, Age bias during the hiring process, HR leaders are implementing a variety of recruiting, applicant screening, interviewing, analysis and assessment tools.

Recruitment software are helping companies hit their diversity goals by removing unconscious bias.

Personalized Learning Experience

The Learning Management Systems (LMS) are evolving to provide personalised learning experiences.

Organizations are thus now able to provide a more inclusive approach that is personalized, aligns with desired learning styles and aligns with individual & organizational requirements. As a result, it creates much more meaningful impact for both the learner and the organization. 

It creates a learning journey for the individual and also incorporates micro-level reporting and the opportunity for deep analytics.

HR Analytics

All HCM Software have worked on improving their reporting and analytics over the past few years.

HR Analytics provides insights which can not only improve but can transform a function of HR.

Analytics is a wonderful tool in the hands of leaders and the new HR software are not keeping any stones unturned to harness its power for the HR leaders.

Virtual Reality

Use of Virtual reality has been started in corporate training for applications such as teaching employees how to handle crucial scenarios.

Virtual Reality helps in achieving an interactive and fully immersive way of training. Situations for such trainings may range from handling hazardous material in the workplace to learning to operate a new machine or handling an emergency.

There is a lot more to happen in this space and it will definitely take the effectiveness of learning management systems to a new height.

Cloud-based HR Software

Using cloud-based HR software is slowly becoming the norm. Cloud based HR software is much more scalable, and hence it is great for fast-growing businesses.

Cloud based HR software also facilitates the collaborative working of HR professionals sitting at different locations and enables them to work with real-time data effortlessly.

There are various all-in-one HR platforms available, that integrate different functions of HR management, like employee self-service, payroll, benefits, time management, onboarding etc.

What fuels these trends?

HR leaders across the world know they need to continue to step up their game. In their journey, they have a great enabler called technology. The new trends in HCM software are helping them to increase their efficiency & effectiveness like never before!

Where are you in this journey of implementing the best HCM software solutions? Find HR software at CuriousCheck or have our advisor bot match you with your company’s top 3 ideal solutions in seconds (for free!). Try it out at CuriousCheck.com