HR technology is one of the most rapidly-growing industries today. New companies are popping up all the time, offering innovative solutions to the age-old problems of HR management. At the same time, established players are continuously improving their offerings to keep up with the competition. With so much change happening so quickly, it can be hard to keep up with the state of theHR tech industry. But keeping up is important, because the decisions you make about HR technology can have a big impact on your company’s bottom line.
The first thing to understand about the HR tech industry is that it’s huge. In 2018, global HR technology spending is expected to reach $15 billion. That number is only going to grow in the years to come, as more and more companies realize the importance of investing in HR technology.
One of the most popular areas of HR technology is performance management. Performance management systems help companies track employee performance and give feedback accordingly. These systems can also help with succession planning, by identifying high-potential employees who should be groomed for leadership positions.
Another big area of HR tech is recruiting. Recruiting platforms help companies post job openings, screen candidates, and track applicants throughout the hiring process. These platforms can also help with onboarding, by giving new hires all the information they need to hit the ground running on their first day.
The HR tech industry is booming, and there’s no signs of it slowing down anytime soon. With so many different solutions available, it can be hard to keep up with all the latest changes. But keeping up is important, because the decisions you make about HR technology can have a big impact on your company’s bottom line. By staying informed about the latest trends and developments in HR tech, you’ll be able to make smart decisions that will help your company succeed now and in the future.