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Viewpoint: The State of HR Technology Today

HCM
Article
07/13/2016

HR software is playing an increasingly vital role in the way companies manage their human capital management (HCM) strategies. From data collection to talent acquisition and employee engagement, the right technological infrastructure can help businesses reach their goals more quickly. Here is a look at some of the more important HR tech trends in 2016.

Technology and Social Media Recruiting

Social media recruiting has changed the dynamics of how companies recruit talent. Today's businesses often use social media networks to promote open jobs, network with wider talent pools, and build their employer brands in the market. Candidates are actively maintaining social media accounts designed to build their own brands and help them land the best jobs. Mastering social media recruiting has been simplified thanks to a wide range of HR technology tools focused on this important area; enabling employers to do everything from sourcing passive candidates to effectively promoting jobs.

Moving Toward Single Record, Integrated Platforms

Many companies find themselves in the position of trying to overcome integration and communication barriers among a variety of best-in-class HR software solutions. Because these HR technology networks have essentially been cobbled together, data errors, duplication of administrative work, and other challenges are keeping companies from capturing maximum value. As a result, HR leaders are consciously moving toward an integrated HCM solution that can help them manage the full range of human resources tasks, from compensation and benefits to talent management. A single record system that creates one file for an employee that can be integrated across the organization is improving data integrity and HR-related process efficiency.

Enabling Remote Talent Through a Mobile Workforce

Flexible work arrangements are on the rise. Companies are embracing flexible work schedules, telecommuting, the utilization of freelancers, and a geographically dispersed workforce. As a result, HR technology is playing an important role in facilitating the development of team relationships. It's also helping HR staff to manage collaboration, communication, and completing routine HR tasks with a workforce that's spread around the globe.

Companies embracing talent through mobile work force- telecommuting, flexible work schedules

Grappling with Compliance Challenges

Compliance with government regulations is routinely in the top three concerns cited by CEOs. Strategically, companies are facing a variety of compliance challenges. Some of these can be solved by technology, while others remain more complex. For example, in a recent preview of a research report, the Society for Human Resource Management noted that changes to overtime rules could require companies to update their policies on how employees use mobile devices outside the office. Companies that are embracing bring your own device (BYOD) policies must also create rules that relate to protecting employee privacy, while balancing company network concerns.

2016 is an exciting time for HR technology. More tools and information is available than ever before to help HR managers and business leaders make smart decisions about their HCM strategies. As the talent ecosystem continues to evolve, these tools will play an increasingly important role in helping companies achieve their business goals.

 

This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.
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