Meet the country's most innovative HR software developers debate the future of the sector
As business recovers from the pandemic, leaders are focused on talent attraction and retention as a key part of recovery. At the heart of this focus are some innovative and responsive software solutions.
As businesses move forward with recovery plans, they will be considering investing in HR technology. HRDs research has found this is a key decision that drives impact across different stage of the recovery cycle.
Winning the talent war
As the job market shows signs of recovery and the workforce emerges from lockdown, job vacancies have increased. Last year, ANZ Banking Group showed a 129% year-over-year rise in job openings.
The data supports a trend that analysts have coined “the great employment reshuffle” and the media has dubbed the “war on talent”. A movement of employees in pursuit of better work environments and perks.
Recent research suggests that 40% of employees are thinking about resigning in the next year.
“HR technology will need to support HR leaders to increase their retention and avoid that sort of brain drain, but also to give them the ability to secure high-calibre candidates and a salary report – and all of that without actually increasing the workload of the HR team,” Dave Johnson, corporate sales manager at JobAdder.
Investing in HR technology can keep you ahead of the brain-drain. The latest technology captures the entire employee life cycle meaning leaders can use the data to prepare for shifts in the workforce before they even happen.
Driving business impact with AI
Artificial intelligence, particularly machine learning was one of the top technology investments in the wake of Covid. Leaders are incorporating predictive analytics with human capital management systems to predict potential issues. AI-powered software is especially valuable in hybrid and remote workforces.
“You won’t be seeing your staff every day or having that face-to-face interaction, yet you still need to make sure they’re engaged, they’re enabled, and they’ve got the right support,” said Gordon Starkey, COO at ELMO Software, a double HRD 5-Star HR Software award winner.
Leading the hybrid, mobile workforce
There has never been a more challenging time for talent, acquisition, retention and development. Even in a remote working space we still need to be connected and draw from our organisations those values that are important to us collectively and individually.
The challenges of hybrid working have proved that that HR software is provides value by empowering employees to contribute regardless of their physical location.
Keeping teams connected to the mission
The challenge for software companies is ensuring that they are covering all bases and genuinely are bringing people together. There has been a shift from just being automation of processes to playing a big role in employee experience.
“Organisations are really now focused on how they can find new ways to keep their employees connected, between the organisation and their people; new ways to recognise employees who may not be sitting side by side in the office,” said Kylie Green, SVP of global sales at Reward Gateway, a 5-Star HR Software award recipient.
Award Insights
The awards recognise the companies that are responding to the changing needs of talent management in the most innovative ways.
Enterprise technology is no longer restricted to use in the workplace, there are now cloud platforms that serve the needs of a mobile workforce.
Employers are increasingly turning to software to look after the wellbeing of their staff.
Read the full special report on the 5-Star HR Software awards here.
