HR Tech Trends: What's Hot in 2023
The HR Technology landscape has been growing at an astonishing rate in recent years, with billions of dollars invested in the industry and many, many new systems and platforms unleashed to the market. But, 2023 is likely to be a year of consolidation, as global economic uncertainty and inflation remains elevated, amid layoffs and slower hiring. Nonetheless, we’ve picked out a few areas and themes of the HR Tech market that we believe will remain hot in the year ahead!
AI for Talent Acquisition & Talent Intelligence
The acceleration of artificial intelligence (AI) in the recruitment tech space has been a hot trend in recent years and will remain so in 2023. AI can play an important role at various stages during the hiring process; from screening CVs to help recruiters filter the best candidates, to conducting virtual interviews and AI-enabled background and reference checks. As technology and transformation experts look to find ways to make hiring more efficient and automated, the use of AI-powered talent acquisition systems will become increasingly mainstream. What’s more, there’s a rise in Talent Intelligence tools that are leveraging talent data and AI mechanisms to inform HR and Talent Management decisions. These platforms help companies with internal talent matching, skills analysis, succession management, DEI efforts and more!
Hybrid Work Technologies
As organizations shift from a fully remote working model to a more hybrid model, HR leaders must think about how they can elevate the hybrid workplace in 2023. Investment in digital technologies that provide productive and personalized experiences will go a long way towards ensuring a more engaging and innovative employee experience. This could be something simple like deploying space management software so that employees can easily reserve hotdesks and office space. But big vendors like Microsoft are now getting serious about the emerging market of high-tech Intelligent Workspace Management platforms that allow users to schedule a space, book equipment and assemble their team all from a single app; helping you do this in the most effective way possible to utilize the company’s real estate intelligently.
Immersive Learning
Utilizing VR (virtual reality) technology for training is becoming more and more popular and will certainly be a hot topic in the HR space in 2023 and beyond. VR tech offers companies an engaging and immersive solution to help employees master key skills to be prepared for various situations. Big corporations like Walmart, for example, have used VR to train employees for the rush during Black Friday sales. But this type of technology can also be used to take onboarding and training sessions to a whole new level. For example, a company’s HQ or factory can be recreated in a fully 3D environment in the metaverse for immersive tours and onboarding experiences. It should be noted that these types of technologies are far from mainstream, and so it offers a great opportunity for savvy companies to gain a competitive advantage.
Ongoing Employee Wellbeing Support
Growing a strong business starts with growing strong people. And so, supporting employees’ mental health and wellbeing will continue to be a trend for HR leaders in 2023. With the economic downturn, geopolitical situations and other uncertainties and pressures, the physical, emotional and mental health of employees will be a big concern in the year ahead. Organizations will turn to tools and technologies such as mental health apps, rewards and benefits platforms and employee recognition software as they look to combat exacerbated mental health issues amongst workers. Going even further than this, HR Tech solutions that give employees access to hyper-personalized coaching sessions to drive their professional development and personal growth can help businesses to grow a thriving workforce.
Conversational Chatbots for HR
ChatGPT. Perhaps you’ve heard of it recently? If you haven’t, then get ready. It’s the new AI programme designed to simulate human conversation and answer complex questions. HR has always been a function that’s well positioned to benefit from emerging technologies to help with administrative tasks, so it’s likely that more HR leaders will consider adopting conversational AI technology in 2023. To some, this may seem like the stuff of science fiction, but we have to take it seriously. For large multinational enterprises, consider the cost and time of hundreds of employees asking a question to a human versus a chatbot. As with all new technologies, it’s tricky to predict the long-term impact chatbots will have on HR. And whilst it may not be for every organization, chatbots will certainly be a hot topic in the year ahead.
DayoneHR is a HR Tech consulting company. We support our clients with HR software selection, HR system implementation and other HR Tech project management activities. If you are looking for new HR technologies, or to optimise existing HR systems, then reach out to us here. We’d love to hear from you!