The tech market is booming. It’s predicted that unemployment numbers will soon dip below 5% for the first time in Q1 of 2016. The market is experiencing a strong holiday retail season which points to a positive economic outlook for 2016. HR and recruiting technology purchases are on the rise as businesses, and their senior leaders work together to hire faster, retain employees better. Laurie Ruettimann has stated that 2016 is an election year. History has shown that for the last 75 years when the market is good, their economy maintains during an election year. It seems that plenty of people are happy to ride this economic wave and commit to not being pulled down by all the election trolls and banter, which is happening more on Facebook and Twitter from people who are driving everyone crazy.
2015 is behind us and now forward in 2016, we must remain optimistic about the market and about the advancements, improvements and evolution we are beginning to notice, not just in HR and recruiting technologies, but in the entire HR industry.
#1 – DATA PROTECTION AND PRIVACY
Everyone is aware of recent Samsung hack, Target and Home Depot’s recent security troubles, human resource technology should be every company’s priority for information technology professionals especially when you consider HRIS and ATS have a high volume of personal data including tax data and bank data for employees who are paid every week directly which is deposited every week. Confidentially, I’ve heard from a handful of practitioners who have experienced security breaches in recent months. Typically, it’s a recently terminated employee. However, hackers will only gain more knowledge and will make their ways to the treasure trove of data contained within your HR technologies.
#2 – MOBILE
Recently, it’s become popular for some recruiting and employment branding technologies to offer mobile applications including mobile apply, employee engagement tools and messaging. While many don’t discount mobile HR technologies and tools, they apparently aren’t as effective as mobile recruiting. However, you can now see an increased demand for mobile employee communication platforms especially with Facebook@Work moving from their beta and being available at more companies. Flexible work schedules are becoming increasingly common as more employees are beginning to work from home. This will begin an increased focus on employee retention and employers are looking for ways to increase candidate touch points, leading to more candidate conversions which makes the decision to go mobile easy.
#3 – MACHINE LEARNING GROWTH AND EVOLUTION
Nothing is more fascinating than watching machine and watching it learning to evolve in the human resources and recruiting space. It’s common knowledge that Machine learning software learns your preferences, interests and habits to save you time using the software. The software learns about what’s important to you as an employer and can react to problems and present you with numerous options, relevant information and resources that you are likely looking for or would benefit you in some way. Machine learning has an obvious use case in training and gamification and is something you use every day (which not many people are aware of) on LinkedIn through their suggested contacts feature. Machine learning is growing in the HR sphere, with technologies like PhenomPeople, a mobile candidate analytics and engagement technology. Also, one to watch out for is Saba’s Ted Technology and Simpler, two more machine learning HR tech products for the HR world. There is a host of coding and test evaluation technologies that use machine learning as part of their offering.
#4 – FOCUS ON RETENTION AND PERKS
It’s now very common from the media that each week some Silicon Valley techno-giant is receiving accolades and praise for unlimited parental leave, breast milk delivery service or free lunches this is proving that there are perks of good media and blogging reviews. Although media doesn’t and won’t make happy, engaged and retained employees. All these perks aren’t providing a personalised approach. Which is why creeping up is a new group of technologies which provide a more personalised approach to perks and retention. The increase in HR data and analytics are now available to all practitioners through the use of analytics dashboards, data scientists and new reporting technologies that go far beyond the days of an Excel Spreadsheet. With this you can identify better, understand, prepare and react to changes in retention. The data can help to identify the turnover of products and the volume of this.
#5 – PRE-CANDIDATE ENGAGEMENT
Having discussed some topics from talent pipelines and networks to now s new breed of HR and recruiting CRM. SalesForce, who is the CRM giant, has now partnered up with several HR technology companies some include TalentObjects and JobScience. These aren’t the same as the customer relationship manager but do have a similar format. They are a candidate-relationship-manager hybrid that helps elevate an employer’s existing recruitment marketing activities and employer branding.
The CRM is known for organising and automating the client engagement as the recruiting, and hiring cycle has been proved to be longer and more complex than it was a few years ago. Employers, mainly the ones who aggressively hire in markets like tech, finance and healthcare are beginning to focus on the longevity of relationships with candidates to make better hires and more quickly which is critical especially in this marketplace where all employers are competing for global talent versus the ones who primarily are residing in their backyard.
So the question we all want answered is what does 2016 have in store for us? The future of HR and recruitment is becoming very exciting and with the likelihood that the economy will maintain and possibly continue to improve. This is a chance for HR and recruiting leaders to take action and lead their organisations during a time of focus on retention, development and business growth.