HR tech platforms are not one that you would typically associate with being ‘consumer grade’.
What does consumer-grade mean?
In the world of user experience, consumer-grade means that you are creating a design with the intent that someone with little-to-no training can encounter your product and know how to interact with it.
When you think of artificial intelligence (AI), these might be the first few pictures that dance in your mind. While the legends like Stephen Hawking have raised alarm about the possible destruction of the planet due to AI, the modern-day organizations have a slightly more optimistic take on the subject.
With the enhanced capability of streamlining the repetitive processes, enforcing guidelines, and automating important functions, AI is here to stay.
Globally, Human Resource is almost a whopping $54 billion industry, according to the current research by the Everest group. It’s no surprise then that close to $14 billion of that pie has been contributed by one single vertical- HR technology. In just 2016, investments in this segment went past $1968 million globally.
In an exclusive interaction with People Matters, Pankaj Bansal throws light on what do leaders need to keep in mind to design for work 2030.
For designing the workplace of the future, if there is one thing leaders need to learn is anticipatory improvisation. Or in simple words, leveraging the power of technology to improvise contextual just-in-time action that maximizes business opportunities
Leaders will have to equip themselves to create just-in-time workforce models, design for the Workforce 4.0, and ready the workplace to accommodate changing ecosystems and tools.
HR Tech has finally arrived in India and 2018 was proof. The second half of the year – typically not a decision-making time saw a lot more activity happening around HR Tech than usual. The industry witnessed some isolated activities from the beginning of the year morph into definite trends with a promise to continue into 2019.
Leading HR organizations are the ones which have already delved into the technologies by hiring the skilled employees and paving the way for a better integration of digital and human labor.
HR needs to be a function that takes the lead in understanding what makes people engaged, what cultures drive the most productive workplaces and what equations enable a true merging of human capability with technology.
As businesses grow, they accumulate an array of systems and processes. With complexity in managing technology platforms, HR suffers dues to problems such as duplicate processes, manual onboarding and pre-joining activities, reliance on paperwork leading to delays and so on.
PeopleStrong helps such growing businesses manage HR using a single HR cloud based technology platform which brings with it multifold benefits such as fully automated processes, streamlined HR transactions, reduction in response time as well as improvements in governance and tracking.
For organizations still considering going automated, the concept of HR on Cloud may seem daunting, but its actually much easier to do than it looks.
PeopleStrong’s Alt Worklife is India’s first HR app that offers an HRIS systems to manage all HR processes. Under the Alt Worklife module, everything from onboarding to exit management can be processed effortlessly from any place and time.
With USD 2.4 billion being invested in the HR Technology market last year, talent leaders are spoilt for choice. But are these technologies really making the desired impact?
According to a KPMG report, 2 out of 3 talent leaders are not satisfied with the outcomes of the HR technology that they currently use.
As part of an organizational chart, HR looks like a formidable function- the immense task of linking people with processes and protocol is not an easy one. But in reality, HR systems sometimes work in independent silos, detached from core business and employee needs. This causes a lot of needless delays in paperwork, payroll processing etc.
Companies lose an average of 5% of revenue annually due to payroll process inefficiencies, errors and fraud. Out of this 5%, 99% of the errors are due to poor employee workforce administration.
Despite being an important aspect of a company’s payroll, workforce administration does not get the kind of attention it should.