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What to Expect from Payroll and HR Technology in 2018
There’s no doubt about it - technology has changed the way we do things. And now more than ever, it’s changing the way we work. The latest technological innovations are making things faster, easier, and far more insightful. And these advancements won’t be slowing down anytime soon.
So for 2018, there are some key elements of payroll and HR technology that you should know about so your business can grow as technology does. We may not have flying cars or transportation devices this year, but the futuristic world of the Jetsons may not be so far-fetched after all.
1. Ever-Increasing Cloud Adoption
While this trend is nothing new, more than 70 percent of all organizations now report using the cloud in some capacity. Even still, that number is expected to continue to rise in 2018 and eventually become the standard for payroll technology. So if you aren’t already using cloud-based software, now is the time to make the switch to ensure your business practices are keeping up with the rising trend of cloud applications.
2. Mobile-Optimized Software
With the growing shift to cloud technology comes the growing need for smart device apps to support the cloud’s capabilities. We already use our phones for nearly everything, and now HR managers are finding new ways to increase the effectiveness of their work using mobile apps. Apps supporting this functionality are the primary requirement for payroll and HR technology in 2018. HR managers, payroll administrators, and employees want mobile-optimized software that supports the same capabilities as a desktop.
3. Data Security
The desire for data security comes as no surprise when ease of accessibility has been amplified with cloud technology and smartphone apps. The trend of increased data security continues to gain momentum in 2018 as online platforms take over the payroll and HR world. The security measures your internal or outsourced human capital management software use to safeguard data will be more highly scrutinized this year than ever before.
Blockchain is the newest trend in data sharing and encryption. Although it’s been around for years, this type of information sharing has become widely popular due to its incorruptible data transfer. Information held on a blockchain exists as a shared and simultaneously updated database across multiple networks.
Think of it as a Google Doc - the data exists online and can be shared, edited, and updated in real-time by multiple users. Because a blockchain network continually reconciles itself, data is always accurate and the potential for errors decreases.
5. Artificial Intelligence
We’ve seen automation replace manual tasks to streamline outdated processes and in 2018, it’s reported that artificial intelligence (AI) will take it to the next level.
Imagine having a computer with the ability to act independently of human management once given the instructions to do so. AI technology allows businesses to improve how they get tasks completed, how they make decisions, and the overall employee experience. Not to mention, it’s more cost-effective in the long run.
6. Conversational Platforms
Self-service and automated response options make it easier for employees to gather information without having to necessarily speak with a manager or administrator.
These are great alternatives when requests are simple, but what happens when they become more complicated? Typing a complex question can lead to miscommunication, slowing down the entire problem-solving process altogether.
The newest HR technology trends are geared toward conversational platforms designed with interactive computers like Amazon’s Alexa or Apple’s Siri in mind. With this technology, employees can “talk” to HR, changing the way employee/HR interaction is structured.
7. Virtual Reality Hiring Experiences
The hiring experience is going to be much more customized, personalized, and even virtual in 2018. HR managers and hiring professionals are finding new ways to increase engagement among prospective new hires like virtual reality (VR) to increase success and retention rates. This stem of AI has proven to be the top trend impacting how they are going to be recruiting and hiring in 2018.
Turning typical success indicators that measure critical skill sets and cognitive abilities into fun challenges are believed to be more beneficial for both recruits and recruiters. Candidates will have a more exciting and interactive interview process, while intelligent data collected from online recruitment “games” will better predict strengths and weaknesses.
While flying cars and robot maids may not be on the horizon, we do have many exciting things to look forward to this year.
Processes will become more automated and streamlined with the help of optimized technology. Collaboration between technology and HR employees will create more seamless productivity as combined efforts complement one another. As technology like artificial intelligence becomes more commonplace, we could potentially see a newly designed workplace promoting more virtual and automated interaction than ever before.
How APS can help
APS provides cloud-based solutions for Core HR and Payroll processes to provide organizations with the technology the need to be more productive and efficient. Our self-service technology for employees and managers makes it easier for HR managers to delegate responsibility while maintaining accountability and mobile portal allows for easy access anytime, anywhere.
Our SSAE 16 SOC 1 audited software has never been breached and utilizes two-factor authentication for limited risk and enhanced security. By maintaining a vision of unified systems that make human capital management nearly effortless, we support our clients in their growth and success as technological innovations continue to change the payroll and HR landscape.
Check out more great articles from the APS Blog covering HR, payroll, and everything in between.