Technology Driven Hrm: A Contemporary Perspective
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Technology driven HRM: A Contemporary PerspectiveThe world has never seen changes in any discipline as rapid as they are occurring in technology today. Case studies show that effective and efficient use of IT in operations is one of the key factors that set apart a high-performing organization from others. Human Resource Management (HRM) too has witnessed a lot of changes in the way many of its functions used to work. A recent study indicates that spending on HR technology and automation services is growing at a rate of 31% annually and is expected to reach $15 billion in 2016. Almost all HRM functions are continuously getting enhanced through the use of Human Resource Information System (HRIS) and Shared Service Center (SSC). An HRIS is useful for providing timely, accurate, concise, relevant and complete information to managers on which they base human resource decisions. Â Currently HRIS are used for managing payroll, performance appraisals, benefits administration, recruiting, learning management and training systems and Employee Self Service (ESS). SSCs help big organizations manage their routine transaction-based services and information databases for business units located across the globe and consolidate them in one place. Approximately 50% of the Fortune 500 companies use SSCs for their HR tasks thus saving costs while improving efficiency. Below is a list of how technology has altered the traditional working of some core HR functions.
Recruitment – A recent study states that the top 10 jobs of 2014 didn’t even exist in 2008! The talent landscape is evolving rapidly and focus is shifting from qualification to competency mapping.  Online recruitment techniques have made the pool of hires literally global increasing the importance of person-organization fit in. Most of the costly and time consuming activities like screening of candidates are taken care of by use of advanced software algorithms like key-word analysis to identify key strengths and competencies. Technology is also involved in reference checking and verification through sites like LinkedIn or use of video-conferencing for interviews across long distances. Training and Development – The versatility of online learning or e-learning has had tremendous implications for T&D. Using e-learning has helped organizations trim their costs by up to 60%. Technology helps create learning modules that are available anytime, anywhere, in different languages and can be watched n number of times. Many organizations have tied up with universities to start e-library and online courses that can be chosen according to individual’s need. This helps them achieve a more empowered and engaged workforce. Recently new techniques like Virtual Reality and Simulators have also been introduced that replicate actual job environment before proceeding to live work.