23 Nov Shifting approaches of digital in human capital management
The pandemic has brought about a complete reset of nearly every business model and ushered in new paradigms for the future of work. Virtual work has become the norm rather than the exception, giving rise to multiple possibilities, such as companies gaining access to talent in remote geographies that were previously untapped. As businesses adapt to this new world, the HR function is also rapidly embracing digital technology.
In this transformative era, technology will play a pivotal role in every aspect of HR, especially as in-person interactions decrease. Let’s explore a few key trends that are emblematic of the evolving HR landscape, driven by new-age technologies:
1. Virtual Talent Acquisition: The pandemic’s restrictions have made it challenging for recruiters to conduct face-to-face interviews and fill positions. As a result, virtual talent acquisition methods have gained prominence to bridge this gap.
2. The Rising Role of AI: Artificial Intelligence (AI) has proven to be a transformative force in numerous industries, and HR is no exception. AI-powered tools are streamlining various HR processes and enhancing efficiency.
3. Leveraging Cloud Technology: Cloud-based HR systems are empowering enterprises to swiftly implement cutting-edge software. These systems automate critical processes such as payroll management, talent management, and benefits administration.
4. Technology-Enabled Performance Management: Many enterprises still face challenges in effective performance management. Embracing data-driven approaches, enabled by technology, can significantly improve performance management practices.
In this transformative era, technology will play a pivotal role in every aspect of HR, especially as in-person interactions decrease. Let’s explore a few key trends that are emblematic of the evolving HR landscape, driven by new-age technologies:
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