What to Expect from Payroll and HR Technology in 2018

While this trend is nothing new, more than 70 percent of all organizations now report using the cloud in some capacity. Even still, that number is expected to continue to rise in 2018 and eventually become the standard for payroll technology. So if you aren’t already using cloud-based software, now is the time to make the switch to ensure your business practices are keeping up with the rising trend of cloud applications.

With the growing shift to cloud technology comes the growing need for smart device apps to support the cloud’s capabilities. We already use our phones for nearly everything, and now HR managers are finding new ways to increase the effectiveness of their work using mobile apps. Apps supporting this functionality are the primary requirement for payroll and HR technology in 2018. HR managers, payroll administrators, and employees want mobile-optimized software that supports the same capabilities as a desktop.

The desire for data security comes as no surprise when ease of accessibility has been amplified with cloud technology and smartphone apps. The trend of increased data security continues to gain momentum in 2018 as online platforms take over the payroll and HR world. The security measures your internal or outsourced human capital management software use to safeguard data will be more highly scrutinized this year than ever before.

Blockchain is the newest trend in data sharing and encryption. Although it’s been around for years, this type of information sharing has become widely popular due to its incorruptible data transfer. Information held on a blockchain exists as a shared and simultaneously updated database across multiple networks.

Think of it as a Google Doc - the data exists online and can be shared, edited, and updated in real-time by multiple users. Because a blockchain network continually reconciles itself, data is always accurate and the potential for errors decreases.

We’ve seen automation replace manual tasks to streamline outdated processes and in 2018, it’s reported that artificial intelligence (AI) will take it to the next level.

Imagine having a computer with the ability to act independently of human management once given the instructions to do so. AI technology allows businesses to improve how they get tasks completed, how they make decisions, and the overall employee experience. Not to mention, it’s more cost-effective in the long run.

Self-service and automated response options make it easier for employees to gather information without having to necessarily speak with a manager or administrator.

These are great alternatives when requests are simple, but what happens when they become more complicated? Typing a complex question can lead to miscommunication, slowing down the entire problem-solving process altogether.

The newest HR technology trends are geared toward conversational platforms designed with interactive computers like Amazon’s Alexa or Apple’s Siri in mind. With this technology, employees can “talk” to HR, changing the way employee/HR interaction is structured.

The hiring experience is going to be much more customized, personalized, and even virtual in 2018. HR managers and hiring professionals are finding new ways to increase engagement among prospective new hires like virtual reality (VR) to increase success and retention rates. This stem of AI has proven to be the top trend impacting how they are going to be recruiting and hiring in 2018.

Turning typical success indicators that measure critical skill sets and cognitive abilities into fun challenges are believed to be more beneficial for both recruits and recruiters. Candidates will have a more exciting and interactive interview process, while intelligent data collected from online recruitment “games” will better predict strengths and weaknesses.