A lot has changed over the past year, and the “future of work” is here with new opportunities and challenges. Will your HR tech stack—or all-in-one solution—support the new world of work? If not, now is the time to consider changing things up. As companies return to work and the economy re-opens, the right tools and solutions can provide a stronger foundation from which to address imminent changes.
Here’s are some key areas to focus on as your revisit your HR tech stack:
Diversity, equity, and inclusion (DEI) are top of mind for many company leaders and HR practitioners this year. Technology alone isn’t an elixir to solve your DEI challenges, but it can support you in your journey.
In some cases, however, technology could actually be hurting your DEI efforts. For example:
Re-evaluate your HR technology stack to ensure your tools aren’t hurting your diversity, equity, and inclusion efforts. Then, consider whether switching things up might better support your efforts. In some cases, you may be able to better utilize the features in your existing tech stack— by turning on blind resume screening in your ATS, for example. But there may also be cases where you could benefit from replacing a component of your HR tech stack, or supplementing your all-in-one platform with a best-of-breed solution.
Remote work is here to stay for many, but your HR tech stack was likely developed to support a co-located workforce. If you will offer either fully remote work options or a hybrid model going forward, consider whether your current HR tech stack supports that.
With the hybrid model, in particular, co-located and remote employees may have very different experiences than their co-located colleagues. It’s important to consider how your technology can help you address that. For instance, remote team members are often less likely to be promoted. A performance management system may enable you to track promotion rates and time to promotion, so you can address that challenge.
Over a quarter (26 percent) of workers plan to look for a new job once the threat of the pandemic subsides. That may be higher for companies that don’t offer remote work options long term—42 percent of remote workers say they will look for a job at a company that does. If you want to retain your team, focusing on the employee experience will be key.
There are many ways technology can help enhance the employee experience:
Conversely, some HR tech may be leading to a poor employee experience. For instance, if your time off calendar is difficult to use for team members or their managers, people may not be taking the time they need to recharge. Or if remote employees can’t find the information they need, when they need it, they will likely become frustrated and, eventually, disengaged.
As the employee experience continues to be a priority, consumer-grade, best-of-breed technology is quickly replacing the clunky legacy systems of the past.
As people start changing jobs and companies get back into the rhythm of growth, the talent landscape will become increasingly competitive. Consider whether your HR tech stack is set up to help you reach your hiring goals. This will be particularly important if you lost HR headcount during the pandemic, and if you’re going to be affected by the post-pandemic turnover surge.
Here are some questions to consider as you re-evaluate your current solutions:
With a competitive talent landscape, you may also find that candidates are able to negotiate higher offers. A modern compensation management tool can offer continuous compensation analysis, so you can see when increasing cost-of-market rates might be leading to salary compression or pay inequities.
Every company, and every HR tech stack, will be different. It’s up to you to determine if you need to make changes to meet the opportunities and challenges a post-pandemic world will bring. So much has already changed in the past year, making now the ideal time to take a hard look at everything—including technology, processes, and policies—to ensure they support your organization in the way you need.