Peering into the future of HR Management

 

Written by Benjamin for iqDynamics

From issues related to workplace behavior to stepping up their recruitment efforts, the nature of HR management has changed. As can be seen from a study conducted by the Addison Group, 60 percent of employees are still actively searching for a new job despite being already employed. For organizations looking to get an edge on their competitors, this is an excellent opportunity to recruit talented and highly-skilled individuals.

 

Hence in order to remain competitive, both managers and HR professionals need to recognize and adapt to fluid employment trends. Here, iqDynamics takes an in-depth look into what the future may hold for HR management.

 

1) The increasing importance of data analytics

 

Data analytics is concerned with the collection, processing and analysis of raw data. In HR management, data analytics allows managers and leaders to study employee behavior and trends in order to develop new strategies for improvement.

 

With the integration of data analytics and HR management, recruiters and hiring managers are able to harness the power of big data. Instead of relying upon traditional indicators such as candidate response rates, data analysis allows HR professionals to identify channels where the most promising candidates were recruited.

 

In turn, this allows organizations to source candidates from proven sources while eliminating “bad” or ineffective recruitment channels. On the long-term, this improves the quality of talent sourced while also speeding up employee recruitment.

 

 2) The usage of AI in recruitment

 

It should come as no surprise that HR professionals and hiring managers are inundated with hundreds or even thousands of resumes everyday. This often leaves them with little to no time to properly review candidate applications.

 

In fact, a recent study has shown that the typical hiring manager spends less than six seconds reviewing a single job application. These gaps in the hiring process will consequently lead to the wrong type of candidate being hired for the job.

 

Also, with so many applications falling through the cracks, chances are good that the organization may miss out on hiring top-quality talent. This will consequently have a negative effect on the organization’s branding and work performance as a whole.

 

Fortunately, the integration of AI in various HR processes may be able to solve all of these issues. For example, AI technology allows recruiters to automatically process dozens of applications at a time while also facilitating the targeted recruitment of candidates.

 

Utilizing AI technology to process job applications eliminates any likelihood of hiring bias which ensures that candidates are assessed on merit alone. Along with this, AI-based recruitment enables hiring managers to input their desired set of parameters i.e. skillset or qualifications which allows for more focused and targeted hiring.

 

3) A shift towards skill-based hiring

 

As far back as 2016, MNCs such as Ernst & Young (EY) and PricewaterhouseCoopers (PWC) announced that they would be removing minimum grade requirements as part of their new hiring policies. In the past, candidates had to possess excellent academic qualifications to even be considered for a role.

 

While grade requirements are important, oftentimes the measure of an employee’s skill and talent cannot be determined by his/her academic qualifications alone. An employee with great problem solving skills may not be particularly academic but their ability to think creatively is essential if one is to remain competitive in today’s world.

 

Despite being based in a nation with an emphasis on academic excellence, a recent study has shown that Singaporean employers have begun looking beyond university qualifications. It was found that despite a healthy job market, many employers found it difficult to hire employees with the relevant skill sets.

 

The above situation highlights how skills and training have become increasingly important in the workplace. Academic qualifications on their own are not a suitable gauge for an employee’s ability to perform. As a result, there will be an increase in demand for HR Management systems and professionals with the ability to train and upskill employees.

 

iq Dynamics’ HRMS is designed to facilitate training and development of employees. From training materials to suggested learning, we offer a comprehensive solution for organizations that value skilled employees.

 

 4) HR’s move to support a more flexible work culture

 

Remote working and flexible work arrangements were once thought to be a mere pipe dream for many employees. However, the changing nature of the workforce has brought about a paradigm shift amongst many employers.

 

Thanks to the internet and the rise of freelancing, organizations are able to tap into talent from all over the world with ease. In fact, flexible work arrangements have proven to be a boon for employees in the workplace. From improved employee morale to lower costs, business leaders would do well to heed the call for increasingly flexible working arrangements.

 

In response, it can be seen that many employers have begun offering such options in a bid to better engage with their staff. This change can be seen in how HR software is evolving in response to this shift in demographic.

 

From developing new on-boarding programs to tracking employee time, iqDynamics HR software offers full support for employees with flexible work arrangements.

 

The world of HR is changing at an ever increasing pace. In order to remain relevant, managers, business leaders and HR professionals have to up their game. iqDynamics is dedicated to helping organizations remain relevant as we move forwards.

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