ED 47: January-February 2013

52
ma r k E t in t E l l i gE n C E
Ja n | FE b 2013
En t r E p r E n E u r s’ Di g E s t
Key
a quick look at some of the main developments in this
business element for the new year
T
he human resources (HR)
division has always been a key
component of any enterprise,
handling payroll processing to
leave-of-absence applications
and other matters that involve staff
members. Even if the core responsibilities
of HR departments have not drastically
changed over the past few years,
technology has slowly but surely crept
into this facet of business.
Driving home this point, the 15 th Annual
HR Technology Conference and Expo -
recently concluded on 10 October 2012
at the West Building of McCormick Place
in Chicago, USA - saw record-breaking
attendance in its 15-year history. This
suggests that the emphasis placed on
HR technology has increased, it in itself
becoming more entwined in the crafting
of the company’s overall business
strategy while utilising innovation and
technology. On this note, here are some
of the key HR technological trends which
will be prominent in the New Year.
Trends for
2013
• Software-as-a-Service (SaaS)
Essentially cloud computing, where
software and data are hosted centrally
on the cloud, many enterprises will
take advantage of the flexibility, ease
of implementation and lower costs to
streamline their HR processes. With
both subscription-based and ad-hoc
payment services available, small
and medium enterprises (SMEs) can
make use of this technology to better
govern the full spectrum of their HR
requirements.
• HR Master Data Management
Managing the sheer volume of HR
data, like employee master data, is a
monolithic task, and that information
is crucial to draw up strategies for the
future. Therefore, more companies will
develop or adopt systems to handle
all this raw data, to synchronise all the
different streams of information into a
cohesive whole, forming repositories.
*Note: all information adapted from HR News Daily and Search Financial Applications.
• Social Media as a Tool
The annual performance review will
not be going away soon, but more
companies are leveraging on the
advent of social media to measure
the levels of employee functioning.
As younger, tech-savvy individuals
join the workforce, using social
media to better gauge and justify
their investment will most likely see a
steady increase. In addition, constant
and ongoing performance reviews
as opposed to year-end affairs will
also work towards a more fluid
performance management model.
• Engagement
Even with the best technology,
employees still need to be engaged.
As HR managers are starting to
take more notice of improving
employee engagement, the focus
will be on keeping them happy at
their posts. Further, technology will
improve the hiring process, making
job applications easier and keeping
employees engaged right from the
get-go.