How technology can improve company culture

Sarah Maldonado

Keeping up with the ever-changing workforce, the fight for talent and generational diversity can be a lot for organizations, especially for human resources to handle. Significant changes are happening almost every day in everything from technology to culture to experience.

Technology within HR can help you hire the right people, monitor employee engagement, remain flexible, focus on onboarding, prioritize work-life balance and further develop company culture. It ultimately drives how we communicate and collaborate. To thrive in today’s digital world, HR leaders should look for ways to streamline operations and processes that are cost-effective and more efficient.

Implementing new technology can help support self-directed teams, create more flexible working environments and allow us to analyze employee performance in real-time through AI.

The following is a look at some of the top HR tech trends for 2023.

HR TOOLS MOVE TO THE CLOUD

Banks across Texas face huge challenges to keep employees physically safe onsite and digitally safe when working both in and out of the office. That’s where the cloud comes in. By moving to a cloud-based human capital management (HCM) system, HR can accommodate hybrid work schedules, respond to employees’ well-being and manage your workforce needs. Much of that weight falls on HR, but with the right tools, they can gain insights into talent needs, workforce management, payroll and more.

ARTIFICIAL INTELLIGENCE (AI): Recruiting & Employee Management

70% of talent professionals surveyed by LinkedIn said that virtual recruiting is becoming the new standard. Whether it’s creating more inclusive job descriptions or predicting whether a candidate is a good fit for your organization, AI can provide the timely availability of data to assist HR and leadership when making strategic decisions and avoid potential risks. AI can provide a better learning experience for your employees via virtual reality, gamification and personalized learning, and it can also help to identify employee leave trends, i.e., employees who may be at risk of leaving the bank.

BLOCKCHAIN INTEGRATION

HR leaders will start to see significant progress in blockchain technology in 2023 as it relates to the recruitment process. Blockchain technology, as most people know it, has mainly been used to safeguard cryptocurrency, but the technology will inevitably change the way that HR professionals handle large amounts of sensitive employee data and deploy various HR processes. Blockchain can streamline the selection process by identifying the details of a candidate’s qualifications and other relevant information, as well as accurately detailing data about the candidate’s employment record. As an individual’s experience and background is properly checked, the decisions regarding qualification claims and pay can be easily made. This limits the possible chance of a candidate falsifying documents or creating fraudulent credentials. Ultimately, blockchain can help HR ensure they are hiring the most suitable talent for your organization.

EMPLOYEE WELLNESS

In 2023 and beyond, technology solutions will play a vital role in maintaining employee wellness. Oracle’s AI@Work study mentions how the pandemic continues to affect the workforce with 62% of employees saying they are experiencing more stress and anxiety at work than ever before. Additionally, 37% reported they are “prioritizing their mental health” as a key contributor to their success. Employee well-being and wellness directly impacts team productivity and overall company performance. Gamification and wearable devices will continue to grow, and onsite health care checkups will become more important than ever. Mental health tech such as telehealth apps, chatbot counselors and AI-powered therapists are proving to be successful and effective methods of helping to support employees’ overall well-being.

DIVERSITY, EQUITY, INCLUSION & BELONGING

Over the last few years, organizations have seen a rise in development of DE&I initiatives as we continue to evolve in our inherently biased society. Recently though, being diverse, equitable and inclusive isn’t enough. Employees want to feel like they belong. The pandemic has shifted our employees focus within the workplace more towards purpose, accomplishment and well-being. HR technology trends in 2023 will aim to improve two-way communication strategies and build future communications based on the information received, expand continuous learning and enable frequent check-ins between employees and managers. With the help of technology, organizations can identify DEI&B trends in recruitment, employee engagement, development, employee benefits and more.

TEAM COLLABORATION SOFTWARE

2023 will be the year for HR leaders to look beyond an applicant tracking system or a PEO as their only means of technology. Whether it’s integrating with your benefits provider to implement a wellness program that links employees’ smart watches or fitness trackers to weight loss or steps goals or investing in team collaboration software that improves communication among departments, the opportunities for HR to advance their organization through technology is endless.

The evolution of technology is just getting started and it’s only a matter of time before the newest innovation becomes the new standard. Now more than ever, it’s important for HR to analyze and understand the impact that technology is playing in the workplace. The future of HR is currently being driven by HR automation and innovation, thus the importance of staying informed on HR technology trends, while implementing best practices will help build the progressive workplace that is the future.

Sarah Maldonaldo Sarah Maldonado, MHRM, SHRM-CP, is the vice president of human resources for the Texas Bankers Association. With more than a decade of experience, Maldonado has worked in virtually every area of HR.