HR-technologies helping business's to attain greater heights

Innovation has always been the essence of life. And In this technology driven dynamic world, the potential of innovation is so high that it is playing a crucial role in changing lives. A few years ago the alarm clock industry was a thriving business but later on, mobile phones totally wiped out the alarm clock industry. To constantly thrive in an industry we need to innovate continuously. Same is true for Human Resource industry as well. With the advent of technology, the Business world has undergone manifold changes which have been aggravated by the development of new dimensions in Information Technology.

technologies her recruitmentOne of the most prominent domains of HR practices is recruitment is the most impacted area. Getting the right talent has been a very big challenge for most of the companies. Failing to select the right talent leads to a hiring loss of approx 31K USD, per bad hire for an Indian company. With the advent of mobile phones, laptops, the internet, job portals, HR analytics, android apps and social media, recruitment industry is experiencing a drastic change thanks to the disruptive innovations occurring around the world. To reduce the cost of bad hire and gain a competitive advantage there is a need to be constantly innovative in the recruitment industry.

Technology has also made it manifold easier for Human Resource professionals to train and develop new joiners in an organisation. It not only helps the new entrants to access information about the organisation and training materials but also helps the trainers to stay in touch with the people in real time. It also helps the trainers to train a large number of peoples at a time and also evaluate them through automated systems and gauge their progress.

How HR Analytics helps HR Big Data and analytics is the need of the hour. HR industry can’t stay aloof from that. There comes the need for Technology. Nowadays rather than doing everything through the menial paperwork HR professionals have delved into workforce analytics and employee engagement by the help of technical resources only. Technology has certainly become very handy for managing such a huge workforce.

So to keep up with the business world and gaining a competitive advantage we have to bring innovation in HR process continuously. We should keep it in mind that getting the right talent and maintaining it matters much more than getting the best talent and use of innovative technologies in HR industry has certainly pioneered towards it.

By – Mohit Kumar Sethy – Summer Interns – B.Tech. from IIT-Dhanbad & Pursuing MBA in HR – IIM Ranchi

Supervision By – Rishi Raman