In a matter of weeks, 2018 will be here. But before you chill that champagne or find the right key to sing you best Auld Lang Syne rendition, consider what you can do to make 2018 a productive year for you and your organization. For today’s HR professionals, that means focusing on HCM technology solutions to help you efficiently and effectively manage your entire employee life cycle. Let’s take a look at 5 of the top technological advancements geared to propel your HR into the 21st Century and beyond.
During 2018 and the coming years, HR professionals will continue to be tasked with effective recruitment and staffing and increasing efficiency. One emerging trend to help today’s professionals realize both of those goals is the use of applicant tracking systems (ATS).
Finding the right candidate no longer means weeding through mound of applications and resumes, wrangling multiple job postings, or spending valuable hours on interviews. An ATS, like Netchex’s NetRecruiter, allows HR managers to streamline their recruitment efforts into one central location. They are built to better assist management of resumes and applicant information. And features such as video and voice prescreening and prequalification questionnaires allow employers to only focus on the most promising candidates.
An added benefit of using an ATS is the ability to post to multiple channels including social media, classifieds and job boards. Most job and resume boards have agreements with ATS providers to allow parsing support and ease of data migration between systems.
Let’s face it – employee onboarding matters. Research has found that 69% of new employees who take part in a well-structured onboarding program were more likely to remain at a company for at least three years. Losing an employee due to their experiences of being confused, feeling alienated, or lacking confidence is a sign of a poor onboarding program.
What better way to ensure a consistent, structed employee onboarding for every new hire than automation. When onboarding is automated through HCM technology, a new hire only has to enter pertinent information like their name, address, and social security number once. The data is automatically populated for payroll, benefits, and direct deposit information. This reduces the time spent on paperwork on the first day, and in some cases, allows the new hire to already have necessary items such as badges, computer access, and more available upon arrival. Automating the employee onboarding process allows companies to save both time and money by reducing the number of hours HR departments have to devote to onboarding a new hire.
Ever tried planning an event or get together around a group’s schedule? It’s no easy feat. Imagine doing that every week and find a way balance your employee availability and your business needs. That’s the reality manager face – scheduling is hard. One to efficiently manage the scheduling challenge is through real-time, mobile scheduling. A convenient scheduling option that allows for easy communication, shift notifications, and availability management is an invaluable tool to managers in 2018. In fact, according to a recent report from Bersin by Deloitte, employee turnover is 174% more likely without real-time scheduling capabilities. Overall companies that adopt an online scheduler are able to decrease labor costs, drastically reduce no-shows and modernize their operations.
If you have been to any Human Resources (HR) professional development opportunities recently, you know that data analytics is a hot topic in the field. Industry experts believe that the use of data analytics is poised to transform Human Resources as we know it today. HR analytics is defined as the application of data mining and business analytics techniques to HR data with the aim of learning more about your organization and its talent pool. There are three types of HR analytics that are currently trending:
A) Talent Analytics
This is not based on numbers, but rather qualitative data. The idea behind it is interviewing staff in order to identify top performers, analyze employee turnover, root out reasons for attrition, identify gaps in training, and develop strategic plans for employee recruitment, retention, and personal and professional development.
B) Workforce Analytics
This type of HR analytics is more numbers based. It is meant to help HR professionals develop enhanced recruiting methods, make more intelligent hiring decisions, optimize organizational structure, quantify job satisfaction, and determine the need for new positions within the organization.
C) Workforce Analytics and Planning
This involves developing procedures that a company can implement to develop and maintain the most efficient workforce while maximizing profits and insuring success long into the future.
Nowadays, technology drives just about every function of today’s workforce. While technological operating systems may make daily work life easier, it often times comes with the challenge of sharing information between systems. More often than not, this typically means time spent manually entering data from one system to the next, which leaves room for good ole fashion human error. But one efficient trend we anticipate seeing more of in 2018 and beyond is companies forming strategic partnerships to integrate their technologies for a more seamless using experience.
What will this look like for your workforce? Well, imagine restaurant POS systems talking to your payroll systems to allow managers to easily monitor overtime and rate changes, calculate tip pools and more. Or picture hotels managers being able to track labor cost in real-time to understand critical data such as cost-per-room and room turnover rates. The possibilities of the payroll and other HCM software integrations across industries is endless – with the ultimate goal of creating a stronger, more efficient workforce.
While adopting all of these trends in 2018 may sound daunting, its can all be done with one call to Netchex. Through strategic partnerships and innovate technology, Netchex is able to bring unprecedented efficiencies to the human resources space. Contact your Netchex rep today to set your company on the road to a more efficient 2018.