Human resource and Technology have centuries-old relations, from the mid-19 century of the first industrial revolution to the current digital industrial revolution 4.0, technology have enabled, made efficient, and brought consistency in work and life.
“The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates, Co-founder of Microsoft.
The above quote by Bill Gates reflects the accuracy of technology and life’s dependence on it. The last 3 centuries have seen good and bad of technology and its long-lasting impact on our planet and on human race. Human resources and technology are now blended as TechHR or HRTech. Across industries, technology has enabled productivity of processes and humans, transparency to productivities, and control on productivity with the contactless interface. Let me explain, new-age sectors like e-commerce, fintech, Telecom and SAAS etc. are fully modelled around technology. From order place to order management to delivery, from income tracking to payout, from employee mapping to employee interactions to KRA management, even compliances, hiring, inter-department commerce and communications.
Old sectors like manufacturing, BFSI, Retail, FMCG/D and now Government agencies and PSUs are dependent on technology for their business and people management.
I very strongly believe HR and its various services will be the biggest benefactor of the current market outlook. TechHR is changing dialogue, KRA is getting redefined, variability and Flexi pay are gaining momentum, a 2017 McKinsey report, “Jobs Lost, Jobs Gained”, found that 30% of “work activities” could be automated by 2030 and that up to 375 million workers worldwide could be affected by emerging technologies.
HR is facing challenges from various employees ask. HR managers are forced to think technology in all processes and activities, the world is more opaque and especially when new age workforces know how to benefit from technology to stay ahead in the game, HR cannot be sitting on the side-lines and watch. Generation Z and its expectations like, Continuous learning, Wellbeing, gig Jobs, connected platforms in the workplace, Harassment-reporting tools, Employee self-service tools are all necessary and basic requirements.
Many organizations are using AI in employee management and people management tools to help business functions. Such tools drive culture, performance, meritocracy and DNA of the future workforce.