Human resources (HR) technology is an umbrella covering technology and digital tools designed for automating HR processes. This involves everything from hiring processes, to payroll and analytical assessments. There has been a rapid increase in the availability of HR technology, and it can be baffling for businesses to make the most of it. Below, you will find six ways technology benefits HR departments.
Payroll
Every employee in your business needs to be paid properly and on time, which means managing payroll information effectively. Unfortunately, this involves knowledge of the finance industry, which isn’t for everyone. Fortunately, there are plenty of means to automate these processes using technology. Digital payroll tools come as either a dedicated platform or as part of a larger HR tool.
Alternatively, if you’d rather not have anything to do with the payroll process, cloud HR providers like this HR consulting Austin firm can include this as part of their consultancy package.
Expense Management and Travel
If your business includes travel and other expenses as part of employment, your HR department will manage the issuing and recording of funds. This process can be time-consuming, which is why many professionals utilize expense reporting technology to automatically document and manage expense requests. As well as managing travel and other expense, reporting tools can monitor the company’s mobiles to ensure they’re cost-effective.
Employee Performance Monitoring
Traditionally, businesses would track performance through regular reviews only. However, thanks to tracking software, business leaders can monitor performance at all times. Using data provided by technology, management can support employees more effectively by using review time and targeting training materials properly.
Benefit Optimization
Technology has changed the way employees can interact with their employee benefits. For example, applications can be used to provide well-being information alongside access to discounts. Technology has allowed employee benefits to push beyond the realms of pensions, sick days, and mandatory leave.
Employee Engagement
Employee engagement is a great indication for businesses to make improvements to their processes. Through advances in technology, HR departments can use different apps and platforms to keep workers engaged in the workplace. For example, apps similar to social media platforms have allowed businesses to post communication and praise. Further, gamification has boosted engagement with company news because who doesn’t enjoy a good game?
Employee Management
Everything to do with employees including talent acquisition, compensation, training, and evaluations needs to be covered by the HR team. This is a lengthy and complex process that takes considerable time to complete manually. However, by using applicant tracking systems (ATS), the hiring process can be almost fully automated. Further, employee referral software can allow your HR team to receive referrals for potential new employees.
Conclusion
Technology has embedded itself into all parts of life, including all aspects of business operations. Within HR, tech tools alleviate pressure by automating systems and providing in-depth data, which can be used to improve operations and develop employees. If your business is still relying on outdated manual operations, it’s time for a serious upgrade.