Adding HR tech to key points in your processes improves efficiency and outcomes, saving you time and money. Check out some of the places where you’ll reap the highest HR technology ROI.
Recruiting and Hiring
One of the most common places to deploy HR tech is in your recruiting and hiring function. HR tech can help with automating and streamlining the recruiting process.
Applicant tracking systems and other recruiting and hiring tech can help you post job openings to multiple job boards with one click, for instance, or automatically administer assessments and rank candidates based on job-related skills and abilities. It can help with scheduling interviews by sending automatic reminders to both the candidate and the interviewer.
By providing each of these benefits (and many more), HR tech cuts back on the transactional tasks associated with recruiting and hiring so your talent acquisition team can devote its time to higher-level imperatives, like building relationships with top candidates.
HR software’s ROI in onboarding processes can’t be overstated. Effective onboarding is one of the most meaningful points in the employee lifecycle and one that technology adoption can improve.
One way in which HR tech can save you time and money during the onboarding process is by automating repetitive or time-consuming tasks. For example, if you use a tool to manage your new-hire paperwork, the system can automatically generate and send offer letters, collect employee signatures, and keep track of any required documents.
Another way HR tech supports a better onboarding experience is by providing a central repository for all the information your new hires need. This could include an employee handbook, contact lists, or links to internal resources. Having this information readily available can help reduce the amount of time your managers spend orienting new employees. Automating a drip campaign to deliver critical resources automatically guarantees that new hires can access the information they need without it overwhelming them.
HR tech also can create a more personalized onboarding experience for each new hire. For example, you can use data from the hiring process to match new employees with mentors or colleagues who have similar interests or backgrounds. You can use tracking features to monitor each employee’s progress and ensure that they receive the support they need.
A lot goes into an effective onboarding process, and HR tech enables you to make that experience the best it can be for new hires, their managers and colleagues, and your HR team.
Time-Tracking and Benefits Administration
HR technology also can streamline the process of tracking employee time and managing their benefits. Time-tracking software can automate the process of collecting employee hours, and benefits administration software can help manage eligibility and enrollment. HR technology also can help ensure compliance with time-tracking and benefits regulations.
Offering employee self-service capabilities lets people find answers to their questions about compensation, benefits, leave, or PTO in real time rather than having to navigate through several levels of the HR team to find the right person.
By using HR technology to streamline these processes, businesses can save time and money that they might otherwise spend on transactional, low-value activities.
More employers look for performance management solutions today, and with good reason. Technology can automate performance management processes, making it easier for managers to give employees timely feedback.
Many performance management systems offer tools for goal-setting and tracking progress toward those goals. Set automated nudges reminding managers to check in with employees or follow up during a complex task to keep everyone on track and motivated. Integrating performance management in the flow of work improves performance outcomes, which increases your ROI.
HR technology also can help identify patterns of behavior and issues that may affect employee performance. Pulling aggregated performance data into a single dashboard gives you increased visibility into what makes your workforce tick so you can make more informed management decisions.
Employee engagement and retention are huge priorities for HR professionals. Disengaged employees cause a drop in productivity, which lowers your overall performance, and often leave the company altogether. That drives up the costs of recruiting, hiring, and training.
Employee engagement software lets you collect and use data to improve the employee experience. Surveys give people the chance to voice their concerns or leave positive feedback you can use to improve HR programs.
Employee experience software also can provide key points of connection so team members always feel like they’re part of something bigger than themselves — which keeps them invested in their work and drives up your HR technology ROI.
Learning and Development
Another important HR process more employers automate through tech is learning and development. This process can be time-consuming and costly if not done correctly. By using HR technology, you can save time and money while still providing employees with the training they need.
HR technology can be used to create and deliver training content, track employee progress, and measure the effectiveness of the training. By using HR technology for learning and development, you can ensure that your employees receive the best possible training while still saving time and money.