Unveiling the latest trends in HR technology at Unleash 2024

The employment of the present age is at a turning point. The desire to have production with a higher level of efficiency, continues to be a trend in 2024. One of the topics discussed today will touch upon the predicted HR trends that will revamp global business operations and processes. Together we will tackle the issue of VUCA (volatility, uncertainty, complexity, and ambiguity) in work environments with the need for clear workflows.

At the onset of 2024, the arena of HR technology and the environment around it appears to be technologically dissimilar to how it looked only a few years back. Today HR personnel are doing more than ever, and what they are expected to achieve is more than what it used to be. That’s why their roles are not just about payroll and recruitment alone. Furthermore, it will ensure the completion of audits and compliance with them, represent the company brand, adjust to the dynamic changes in modern workers’ attitudes, and create a corporate culture. On the one hand, there is the rise of HR technology which is offering quicker or better solutions for these problems however the same time this is bearing pressure on HR leaders in terms of training, mastering these tools, and exploiting their company’s investment efficiently through that, Unleash is bringing the trends in HR technology to the forefront at Unleash 2024.

HR Tech

HR professionals will have the opportunity to play an important role in the utilization of an expanding number of machines and tools, which are used in lagging workforce trends and behavioral changes. The learning platforms online will be the reason why they adopt the use of programs at the senior level. Augmented and virtual training (AR/VR) HR technology will be adopted while these systems will also be used to track the level of engagement and performance. The difficulties will be related to making sure that they are implemented in a manner that does not double as privacy and Data Protection Act violations.

Data-driven decision-making

HR specialists will more and more consistently use data analytics tools to make the decisions they have to make. Data analytics will prove to be a valuable HR technology tool in determining who is likely to leave and where the performance chain of the workers is headed at a given period, making possible informed decision-making processes matched with the set organizational goals. 

Employing employees with upskilling, reskilling, and ongoing learning

The emergence of new HR technology is making organizations think about their retention strategies. For instance, allocating more resources to learning management will allow your employees to advance in the most important skill areas and be more confident about the culture of your company. Professional development which is known as training either up or reskilling, can not only give your employees what they are looking for professionally but also can allow for you to invest in the future of your business. Providing learning management software as well as other experiential activities like job rotation, job advancement, and peer coaching are all HR technology integrations to develop employee growth while providing you with a sustainable workforce.

Showing concern about Diversity, Inclusivity, and Equity

Speaking in the context of diversity, equity, and inclusion (DEI), it has become the top organizational concern and fundamental corporate strategy gaining strong ground worldwide. By acknowledging the worth of all viewpoints, organizations are signaling their dedication toward the goal of fostering equitable living conditions where everyone is welcome and included. Only acknowledging this fact would not be enough to create and foster a welcoming and diverse work environment though. It encompasses who you recruit, who you hire, who you retain, and who has the same opportunity to succeed. 

• Create automated competency evaluations.
• Find out what employee resource groups’ utilization or performance is.
• Power decisions on hiring and promotion with proven data.
• Set out clear objectives for a role.
• Apply feedback on inclusivity from anonymous sources to improve company policies.

Hyper automation

The term “hyper automation” stands for the conviction that everything that can be automated, should be. You’ll happen to know about automation in different parts of payroll software and data entry too. The more sophisticated HR technology becomes, the more extensive the set of tasks that can be done by machines.

AI chatbots, for instance, serve to improve employee experience by presenting workers with necessary details immediately and in turn allowing the human resources team to be in a position to have access to relevant data. AI can also be trained to review CVs and choose candidates based on their educational and professional background, although we suggest that the employment of such HR technology should be associated with some restraint. As AI technology is going to evolve, it will become necessary to choose the best HR technology which is also powered by AI technologies so you can be a step ahead of everybody.

Enhanced decision-making

The AI power also comes from the fact that it builds on machine learning which means it counts on the ability to analyze and interpret large volumes of data. Collecting more data about employees is something that AI would benefit from, therefore enterprise HRMS(Human Resource Management Systems)which are already popular around the world have been investing in more powerful HR technology to support their people analytics. Workforce management and business leaders can benefit from machine learning to know which employees would fit most effectively into specific projects, whether initiatives are showing success or not, and whether someone is planning to resign.

Utilizing the tools that bring about flexibility in Hybrid/Remote working 

A workforce practicing remote or hybrid will undoubtedly have its obstacles. As another example, few agencies see the need for the hot desk and other online booking tools to reduce and maximize their office space. HR departments are confronted with managing people across multiple workplaces, time zones, and jurisdictions, including remote workers. These workers must be healthy, engaged, and able to use HR technology products and services. One of the several ways how remote/hybrid could easily mean a new chance for organizations` HR to reconsider its place and function.

Blockchain Technology

Blockchain HR technology, the underlying technology that supports cryptocurrencies, has applications for HR departments and corporations alike.HR departments may use blockchain in several ways to enhance operations.

• Credential verification: Candidates’ employment history and educational credentials can be authenticated using blockchain technology. By offering a safe and immutable record of a candidate’s credentials, this HR technology lowers the possibility of false claims and expedites the hiring process.
• Background checks: By offering a visible and unchangeable record of a candidate’s employment history, criminal record, and other relevant information, blockchain HR technology helps expedite the background check procedure. HR managers may use this to make better-informed hiring selections. 
• Employee data management: Employer histories, performance evaluations, and personal data can all be safely stored on blockchain. This data is safe and impenetrable due to blockchain’s decentralized structure. 
• Payroll processing: Blockchain HR technology has the potential to streamline and secure this procedure, especially for workers from abroad. HR teams can lower transaction costs and shorten processing times for international payments by utilizing tokens or cryptocurrencies.

Emphasis on the Metaverse HR 

HR procedures are about to be revolutionized by the metaverse. Virtual meetings, onboarding, and learning experiences are all effortlessly integrated by this innovative HR technology. To facilitate dynamic meetings, immersive interviews, and stimulating conversations with remote colleagues, HR experts can design realistic virtual worlds. Companies are embracing the metaverse as they see how much it can change the way standard HR procedures are carried out and how well teams scattered can collaborate. HR is empowered by the metaverse since it gives them the ability to work across borders. This creates a whole new universe of virtual interactions that improve worker satisfaction and increase output. 

Rise of gig

Gig workers are changing the nature of the workforce as they become more prevalent. Having already seen a 13-fold increase in “crowd working” from pre-pandemic levels, HR departments will likely have to accommodate an additional rise in the gig workforce. Changes to overall rewards, HR policies and procedures, and culture are all impacted by this. All HR procedures and systems must change to become more flexible and agile. Furthermore, the goal for 2024 should be to maintain the motivation and engagement of both on-roll and freelance workers. Workplaces, employees, and work itself are all changing quickly, which puts more pressure on HR to adapt as well. But one thing is certain—people-centricity will still be necessary in 2024. The capacity to comprehend how corporate goals and difficulties affect people and develop processes that address them will be essential to success in HR. 2024 will still require you to put on your HR hat first and concentrate on the human-centric parts of your position, regardless of the technological platform you choose. 

The experience of generative AI 

By 2024, workers in almost every position will be dealing with the unpleasant realities of generative AI in addition to its creative advantages. Every employee will come into contact with AI in some way, whether it be during the hiring process, performance review, shift assignment, or evaluation of training requirements. Because we tend to envision dystopian dangers rather than a utopian middle ground, human nature makes it difficult for us to digest the potential changes that may be coming. AI algorithms will indeed have an impact on how an employee interacts with brands, makes relationships, and works with both new and old skill sets. But AI algorithms also hold the promise of increasing productivity while using fewer resources, enhancing the job we already do, and cutting down on time wasted on pointless activities. Employees will first encounter generative AI in 2024, which will propel us all into a drastically altered future. 

UNLEASH 2024: Leading the Evolution of HR Technology

Founded in 2011, UNLEASH is a well-known international digital media and events company that serves experts in HR technology, learning, and recruitment. UNLEASH conferences and exhibitions, renowned for being a strategic transformation engine for HR, offer a forum to motivate, unite, and enable HR leaders globally to navigate the quickly changing landscape of work. UNLEASH events, which prioritize technology, learning, and recruitment, present the newest developments in HR technology and are therefore indispensable for professionals looking to stay ahead of the curve in the industry. UNLEASH, a leader in event management worldwide, is known for providing top-notch experiences and content that encourage networking, knowledge exchange, and teamwork among professionals in the field. With its extensive business reports, esteemed honors, and vibrant professional communities, UNLEASH remains at the forefront of influencing the nature of work in the future. Hence, UNLEASH is well-positioned to offer HR directors priceless insights and chances to foster innovation and success in their companies by revealing the newest technological developments at its 2024 events.