Human resource tech has been a widely discussed topic during the last few years. Indeed, the recent COVID-19 lockdown forced many companies to adapt to remote and hybrid work methods. Moreover, they had to modernize how they work in order to enhance productivity. Adopting new HR technologies, platforms and tools was key to survive as a business. In this post, we’ll talk about the top 7 HR tech trends for 2023 and how your organization can benefit from them.
1. The Current HR Tech Scenario
Surely, the COVID-19 pandemic was responsible for a major change in HR and companies’ culture across the globe. While many people lost their jobs because of COVID, the most fortunate were able to keep them. The main reason for that is that they worked for companies that found a way to adapt to the “new normal” way of doing business.
We understand that it’s not easy to embrace change in such a chaotic scenario. Not only the leaders, but the most essential departments needed to evolve quickly, including the human resources departments. Indeed, to evolve and adapt to new working conditions, human resources departments globally had to reinvent themselves.
Luckily, HR professionals are known for having high adaptability and proactivity skills. They can easily adopt new solutions and technologies, as well as promote changes that are widely beneficial to the whole company. Hence, it wasn't a challenge to experiment and implement new human resource tech.
Among the corporate changes brought by the pandemic, we can include the shift from in person to remote and hybrid workplaces, and the concern with mental illnesses and disabilities. Another important change was the promotion of inclusion, diversity and accessibility. The “Human” in Human Resources became an essential sign of resilience during that time.
Many of these changes included corporate reorganization, and the need for new HR technology tools. Human resource tech is known for enhancing productivity while saving costs. Many companies use new HR technologies and softwares to assist them in this journey. Investing on these solutions - the so-called HR tech stack - ends up benefiting both employers and employees.
2. The Top HR Tech Trends for 2023
Considering the current human resources scenario, we see that many previous trends in HR technology are no longer trends, but have come to stay and will continue evolving. See below the most important HR technology trends that we anticipate for 2023:
HCM - Human Capital Management
The first HR tech trend in our list is Human Capital Management, or HCM. This term refers to technologies that are used to help manage human capital. It refers to employees as “company assets” because they are valuable. This human resource tech concept include processes such as talent acquisition, onboarding, job and position management, etc. In addition, it confirms that investing in employees will bring long term benefits to the company.
Hybrid Work Model
The possibility of hybrid working or remote working wasn’t widely adopted before the pandemic. However, most companies have seen an increase in employees' productivity while working remotely.
Now that the pandemic is over, many organizations are hiring full time remote workers to fill in new positions. They are also giving employees the opportunity of hybrid work (working both from home and in the office).
Recent studies confirmed that nearly 80% of employees developed symptoms of depression and anxiety during the pandemic. The Psychiatric Times states that in late June, 40% of US adults confirmed they’re struggling with mental health issues. For this reason, many companies are shifting their values to people-first cultures.
Developing employee and wellness awareness has been a top priority for many companies. It’s accurate enough to say that this is a very effective way of enhancing productivity and company status. Therefore, many organizations are investing in engagement and corporate events to promote well-being and a reliable work environment. This approach not only helps with employee retention, but also increases overall productivity. Consequently, it improves the company’s performance.
Soft Skills Development
Soft-skills are skills that focus on socializing and understanding how communication works. Moreover, they help employees better learn, empathize and identify with the company's values and culture.
Due to the pandemic, working from home became the rule. Employees had to learn to better manage their time, and work as a team through their devices. The same manner, managers had to learn to exercise leadership, resolve conflicts, and keep their employees motivated, all virtually.
In a post-pandemic world those soft skills remain relevant. Consequently, investing in employee training and development is important. The best way to develop expert leaders and a healthy environment is by promoting these values and skills from within.
DEI - Diversity, Equity and Inclusion
Diversity, Equity and Inclusion (DEI) culture is becoming more popular among human resource tech professionals. Companies with the top quartile for ethnic and gender diversity are the ones with financial returns above industry medians.
The main reason is that diversity is also a performance and investment metric. If you create a workplace where everyone has the same opportunities, you are also investing in healthy competitiveness and professional development.
Social Media and Brand Awareness
Being active on social media is a key factor to increase brand awareness these days. Surely it’s easier to recognize a logo or a company’s brand when we see it all the time on social platforms.
That’s why many companies are investing in social media to improve their brand authority, attract talents and engage with their current employees. Not only are social platforms becoming a powerful HR tech tool, but also a mandatory source for market analysis.
We added Data Literacy to our HR tech trend list because more and more companies are asking their HR professionals to have the ability to read data and share it in a strategic way.
In simple words, data literacy is used to define patterns such as personas, relevant numbers, algorithms, systems and processes. By reading and analyzing data, you can define your approach and roadmap as a company. Therefore, many companies are investing in softwares to help read data and leaders with this previous knowledge.
3. How Can Timely Software Complement your HR Tech Stack?
You can increase your company’s performance and organizational culture by using HR tech tools. To develop awareness and enhance employee engagement, it is also important to invest in powerful tools and softwares.
If you want to stay on top of the current HR tech trends, Timely software is perfect for you! Human resources departments can count on Timely to reduce duplicated work, increase productivity, and manage events, learning programs, and spaces more efficiently.
When planning a hybrid workplace space management should not be overlooked. Having a venue management system is key to better managing your space.
Allowing employees to book rooms and desks by themselves online can reduce administrative work and optimize the bookable space. Take a look at our live demo room booking calendar to have an idea of how it would look like on your website or intranet.
Timely Enterprise Features for HR Tech
All Timely’s enterprise products come with customization, automation and productivity tools.
Indeed, our white-labeled platform can be customized to match your brand guidelines, making it look like it was designed especially for your company. Your team will be able to easily import, clone and create events, as well as edit, schedule, and publish events. These event actions can be performed on individual events, or in bulk. Moreover, you will be able to send automated newsletters, or publish events and courses on LinkedIn, Facebook and Twitter automatically.
With Timely booking system, you will no longer need to use spreadsheets and lists to manage event registrations and ticket sales. By using Timely event software, you will be able to collect attendees’ information and manage registration and attendance from a single platform. All event data can be easily retrieved from the system as customized reports. Consequently, HR professionals can have all the relevant information at their fingertips.
Talk to us to learn more about HR tech trends, as well as how Timely technology can help your company with your HR tech stack needs!
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