Top 10 HR Tech Solution Companies - 2020
With numerous employees working remotely during the first part of this year because of the coronavirus pandemic, technology has become more crucial to human resources departments. Experts have observed numerous HR tech trends, comprising extensive use of artificial intelligence in hiring and recruiting, growth of employee tools for financial wellness as well as physical and mental health, and increased automation.
As the use of Artificial Intelligence is increasing rapidly, businesses can expect its application in human resources management to continue to expand in 2020 and beyond. Although AI and recruitment are perfect together, AI isn’t just for hiring. AI will also play a more prominent role as more Human Capital Management (HCM) systems expand their data analysis and information discovery tools. More companies will adopt the virtual reality training wagon. It sounds far-fetched and futuristic, but several companies are witnessing positive results. Most companies are using some HCM software, but possibly not the latest versions. As more companies are looking forward to upgrading their IT infrastructure, there might be a shift to a newer cloud-based HCM system this year. Novel cloud-based systems also tend to have more options for employee self-service, reducing the burden on HR associates for processing usual changes like address, tax withholding, or benefit changes. Besides, more technologies will focus on self-service in 2020 in view of the fact that it helps companies save money and bestows a better experience for employees. Businesses can also incorporate more chatbots in HR technologies as the focus on self-service increases. Chatbots, when utilized correctly, can help quickly address issues and provide responses instead of waiting for a phone call or email.
It’s evident that the coronavirus pandemic has altered how HR departments think about and use technology. As longstanding stalwarts encounter new competition and remote work becomes more acknowledged, it will be exciting to see what contemporary HR tech trends emerge to suffice employers and employees better alike.
CIOReview’s editorial board has assessed and shortlisted a number of the prominent organizations within the HR Tech industry. We hope this issue of the CIOReview helps you build the partnership you and your firm need to foster a technologically-driven learning environment.
We present to you CIOReview’s “10 Most Promising HR Tech Solution Providers - 2020.”