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Driving changes in talent and workforce management

Automation within Human capital management (HCM) is driving massive changes in talent and workforce management, with new technologies having a significant impact on the number of companies choosing to automate HR tasks. A recent report from research firm Gartner states that by 2022, 50% of large companies will have automated many of their HCM responsibilities.

HR technology is a growing industry with new products coming into the space almost daily, a recent report valued the sector at $160 billion.

One of the trends leading the HCM technology boom is a more practical approach to AI. While AI has been active in many companies’ recruitment processes for several years now, it is no longer considered the silver bullet of efficient HCM. As a result, HR has become just one of the industries criticised for over automation. HR departments need to be able to not only justify their use of AI, by highlighting the specific challenges it answers, but also balance its use with a more human approach.

In addition, HCM technology is driving a deeper grasp of human analytics, with software now tracking candidate progress from application through to employment and beyond. Deep insights gained from digitising and tracking records can be used to improve processes and systems and is also driving further developments in HCM technology as an emerging industry.

In this competitive labour market, with candidates having their pick of opportunities, candidate experience is everything. A push in HCM software provides potential improvements to the candidate experience, with available opportunities to enhance candidate engagement at every stage from application through to employee onboarding.

The need to improve candidate engagement is leading a change from the traditional linear recruitment structure of attract, process and communicate with applicants, to a circular process which sees candidates engaging in fully immersive application experiences. HCM technology can provide opportunities to gain a deeper understanding of skills and characteristics which might point to a successful hire.

HCM technology is coming of age, and providing exciting advancements in the efficiency, precision and efficacy of HR processes and tasks.

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