OCTOBER 2020HR TECH OUTLOOK8In MyOpinionUsing Technology as an Enabler in HRVenkatesh Subbaraman, Regional Chief Operating Officer, Institutional Banking, ANZ [ASX: ANZ]ByThe HR Tech Evolution Technology can help automate and streamline processes in the employee lifecycle from hiring, onboarding, and training to compensation, benefits, retention, and exit. Not to mention other important areas under the scope of HR, such as communication, compliance, centralized employee information, and others. Artificial Intelligence (AI) is here, and there are heaps of AI-infused HR tech applications for pretty much every HR function: from sourcing and selection to feedback and performance management. Instead of asking ourselves, "When we're going to use this kind of technology," it's time to ask ourselves "How we are going to prepare our people for the future?" Because if there's one thing about this future that seems pretty certain, it's that we'll be using more and more (AI-driven) technology.Our workforce needs to start thinking of technology as something that makes their lives easier--a tool that takes over most of the tedious tasks they don't want to be doing anyway and that frees up their time for other things. Technology has completely redefined the role of human resources worldwide, from being an administrative unit in the organization to its increasing role as a strategic partner in growing the business.Therefore, in my view, HR technology best practices have continued to evolve to meet the needs of both the HR function and the employees. Examples include where systems of record-keeping are being replaced by systems of engagement. Tools that address the needs of HR are being superseded by tools to Venkatesh Subbaraman
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