Essential Strategic HR Agency in Thane

Essential Strategic HR

Essential Strategic HR

HR and payroll : Mind the governance gap. Tax code changes, fallout from workplace harassment, the rise of artificial intelligence and other long-term trends will put the spotlight on workplace tech this year.

 
Trends In Payroll That Will Change
System integration is a key enabler for payroll processes. It is a necessity for adequate controls, data privacy and appropriate checks and balances. Integration throughout the payroll process reduces the risk of non-compliance and unnecessary labor costs. It can also reaffirm confidence in existing controls and reduce time delays in re-validating. Top-performing organisations have high levels of integration between their payroll system and other key systems including Rostering, Time & Attendance, and Benefits. With an integrated system, a company can reduce complexity, redundant data and risk of errors.
Internal Promotion and “Upskilling”
Upskilling is a relatively new term that is used to describe developing employees that are already working for the company. In 2018, it’s expected that companies will increasingly turn to their existing employees to fill open positions, offering training and encouraging employees to go for promotions.
With fewer new employees expected to enter the workforce in the coming years than ever before, employers are seeing the merits of investing in people that are already familiar with and loyal to the company.
AI in Recruiting
Many recruiting tasks have already been automated, but 2018 may push even more into the digital realm. HR software outfitted with artificial intelligence (AI) may begin reviewing top applications that have made it through the filtering process and even interviewing candidates.
Not all companies will see benefits from de-humanizing tasks such as application sorting and be interviewing, but adding AI to the mix will definitely save time and mitigate the potential for discrimination. AI is less likely to select or reject a candidate because of unconscious biases based on things like name, accent, and demeanor than a human interviewer. Ranking systems can also be built into virtual interviews.

HR Tech Trends
HR operations have been highly undervalued.  All the HR professionals wanted to be a strategic business partner, the role with the most positive connotation. The last years we have seen an upgrade of HR Operations that will continue in 2018 – 2019. Most likely HR can add most value in the HR operations area. The requirements for the people in HR operations are different though, and probably we need a new breed of HR professionals who can run HR as a service organization.
Many more trends are emerging such as :
• From vacancies to opportunities
• Selecting on value fit
• The end of classroom training
• No more leadership journeys
• Purpose, purpose, purpose….
• Less multitasking
• Working from 9-5
• The Consumerisation of HR
• Improving Performance Consulting
• From Individuals to Networks of Teams
• Man-Machine Collaboration
• Algorithm Aversion
• HR Operations in the Lift
• Who owns the people data?
• One size does not fit all
• The battle of the apps
• Focus on the Employee Experience
• Agile HR
• Keep it Simple
• Talent Everywhere
• Organisational Network Analysis
• The use of personas
• The invasion of chatbots
• To a more human and holistic HR
• The end of static jobs
• The changing scope of recruitment

 




Data Drive in decision making

We are seeing the worlds of payroll, HR and business management solutions move closer together as organisations adopt integrated solutions to gain better control over their workforce costs and create stronger engagement with employees. One benefit lies in the fact that data and transactions don’t need to be captured multiple times across different business applications.
In addition, such systems give HR teams a complete view of their relationships with employees, from on-boarding to engagement, talent development and performance management. This empowers HR to react to the needs of the workforce and the business in a more agile manner.
Data will drive decision-making
HR is about to change dramatically with data analytics becoming a way of life for HR directors and HR managers.
As HR professionals have more data (gathered through digital interfaces like employee self-service) about employees and the business at their fingertips than ever before; they will begin to use analytics to make better decisions and to shape superior employee experiences.
Data will help HR and the business to answer questions such as :
• Where did we find the best hires for our business, i.e. top performers who have we retained for a good while?
• How many people will we need in our service department to support our forecasted revenue growth of 10% for the next financial year?
• What are the possible reasons for high employee turnover in the call center?
• What skills gaps do we have in our organisation?
Performance management is changing
We have seen a lot of discussion in the past year or two about the value of annual performance reviews, and many large organizations around the world have streamlined performance management or even done away with annual reviews. Though I don’t foresee most companies scrapping annual reviews, I expect that performance management will change to cater to a changing work world.
We’ll see companies give employees feedback more frequently, perhaps each month or even each week, rather than once a year. This will help managers and employers to constantly monitor performance, identify challenges and opportunities and recalibrate employees’ alignment with its strategic objective. Annual reviews are useful in this regard, but they’re not frequent enough in a business world where the pace of change is so fast.

Essential Strategic HR Agency in Thane