Philadelphia, PA – March 4, 2019 – SharedXpertise, publisher of HRO Today magazine, a leading publication in the human resources industry, and Alexander Mann Solutions, a global provider of talent acquisition and management services, have released a report about new technology in HR for the fourth quarter of 2018.
Moving forward with new technologies, HR is starting to utilize tools such as chatbots to prepare for the future. With the HR management system industry growing into an $8 billion segment, technology to support human capital initiatives is becoming more critical to business success.
Much of the demand for greater automation and digitalization of HR has been driven by the rise of the gig worker. Data from the US Bureau of Labor Statistics suggest that nearly 40 percent of Americans are ‘giggers’ (freelance, contract, contingent, or part-time workers), a figure that may continue to increase. As the workforce engagement model continues to evolve in line with this change, what ‘HR’ and ‘Talent Acquisition’ represent will also continue to evolve.
In addition to digital and automated procedures, HR will begin to see the evolution of the ‘talent cloud’ – a liquid, yet focused curated platform of potential workers that businesses leverage when needed. “Worldwide investment in funding HR technology approached $4 billion in 2018. Organizations are now using technology for talent acquisition and employee management with the same passion and planning they used in other functions for decades,” says Michael Wachholz, President – Americas Region at Alexander Mann Solutions.
The report provides a breakdown of mergers and acquisitions that took place during the fourth quarter. The last quarter of 2018 was rather active, with Microsoft-owned LinkedIn’s acquisition of employee engagement platform Glint. Glint collects feedback from employee surveys and utilizes artificial intelligence, natural language processing, and predictive analytics to provide insights into employee engagement.
As HR tech is on the rise, a balance of technology will need to be found and proper automation should be balanced with a people component. This will prevent an over-reliance on technology as it becomes more prevalent in HR management.
With employee engagement being at the forefront of HR practitioners’ minds now more than ever, these leaders will find that understanding their employees and engaging them will often drive business growth at a quicker pace. “The C-suite at high-growth firms plays a greater role in measuring and promoting engagement and making greater use of analytics to assess performance,” says Larry Basinait, Vice President of Market Research at SharedXpertise.
To read an overview of 2018 developments and learn about where HR technology is predicted to advance in 2019, click here to download the full report
About Alexander Mann Solutions We are Alexander Mann Solutions and we’re passionate about helping companies and individuals fulfill their potential through talent acquisition and management. Today, over 4,000 of our talent acquisition and management experts partner with more than 100 blue-chip organizations, operating in 40 languages, and over 90 countries. We deliver a distinctive blend of outsourcing solutions and – through Talent Collective – a full range of consulting and specialist services. We provide unrivalled experience, capability and thought leadership to help clients attract, engage and retain the talent they need for business success.
About HRO Today and HRO Today Global HRO Today and HRO Today Global offers the broadest and deepest reach available anywhere into the human resources industry. Our magazines, web portals, research, e-newsletters, events, and social networks reach over 180,000 senior-level HR decision-makers with rich and objective game-changing content. Our number-one strength is our reach. HR leaders rely heavily on the HRO Today’s Baker’s Dozen rankings across six different categories when selecting an HR service provider. Learn more at www.hrotoday.com.
Bill MacRae, Publisher
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