By Elaine Orler, Managing Director, Consulting
The human resources (HR) technology market is seeing massive growth. In 2021, funding worldwide reached nearly $19 billion – almost five times more in investments than the year before.
These new options are great for the market and advancing innovation but lower your tech’s lifespan. With the rate of evolution increasing rapidly, it is critical to select technology that remains relevant and effective for years to come.
Technology will stay centerstage as businesses look to create impactful recruitment results today and tomorrow. To help TA leaders strategically plan their tech investments, here are three predictions on what I believe the future of HR technology includes:
- Continued use of cloud-based platforms
Most modern HR technology platforms are cloud-based, which creates an integrated technology system to support talent acquisition outcomes. We expect the adoption of this model to increase, as it brings the experience, data, and user interface together in one place, so TA can flex and scale with the company, markets and business.
Cielo clients and the market are seeing an increased focus on gathering useful data and delivering great user experience to both candidates and hiring managers. The agility of a cloud-based platform makes that happen – and will allow you to easily adapt to changing needs and demands.
- Consistent digital experience across the value chain
Throughout the recruitment process, it is important to create a consistent digital journey for candidates. Companies using a cloud-based platform will be well-positioned to elevate their hiring process, adding valuable touchpoints from application through onboarding to form a true experience.
One way to accomplish this is with a conversational AI assistant, which can answer questions on your career site, help candidates find the right role, schedule interviews, and remain available to answer any other questions that may surface. Not only does AI deliver a consistent and world-class experience for candidates, but it also gathers real-time feedback that can inform improvements to your hiring process.
- Valuable data points throughout the recruitment process
Nowadays, it is table stakes for HR technology to put data in the hands of recruiters and hiring managers from the point of requisition. Most talent leaders know the value data brings to the recruitment process, but there is no one measurement that rules them all. Instead, you need information of all types to make strategic decisions.
The best tech will provide useful data points throughout the journey. This will allow you to harness the power of all the different hiring interactions to anticipate turnover, understand the true drivers of success, and ensure resources are put in the right places.
Talent leaders have more technology solutions to choose from than ever before, and the breadth of choices continues to rise. Investing in an agile, cloud-based platform designed to deliver great experiences and impactful data will help future-proof your HR tech.
Connect with Elaine on LinkedIn.