Businesses depend heavily on human resources (HR) to handle critical tasks related to employee management, like hiring, onboarding, training, and retention. HR technology, which includes both software and hardware, is very helpful to improve these procedures. Many of these technology solutions increase productivity and simplify daily tasks for HR professionals. HR tasks have been shown to improve by 40%. The array of HR technology solutions improves the efficacy of HR operations and helps ensure that businesses can draw in, retain, and develop their most valuable asset: their employees.
There are many examples of important HR tech. Software for performance management monitors worker goals, performance, and objectives, improving hiring effectiveness and lowering attrition rates. Applicant tracking systems, such as Fountain, are also popular as they can save hiring time by up to 93%. These solutions are extensively utilized; 97.4% of Fortune 500 businesses use them to maintain monitoring of a candidate from recruitment to hiring. Platforms for talent marketplaces also help businesses find top people proactively, which cuts hiring times by 40% and increases candidate satisfaction by 90%. There is also employee referral software that creates a collaborative hiring culture by offering rewards to current employees who refer new candidates to the hiring process.
Source: Talent Tech PR