Future of HRMS: 3 Expert Predictions for 2019

Human resource management systems (HRMS) software integrates all core and strategic HR functions in a single solution. Those functions include payroll, benefits, recruiting, time and attendance and learning management, to name a few. One significant benefit of HRMS software is employee self-service functionality, such as updating personal information, that reduces administrative burden on HR.

The HRMS market has grown significantly in the last few years, and is projected to grow to $30 billion by 2025, thanks to trends, such as cloud-based deployment and mobile access.

We’ve recently published a list of seven HRMS market trends. However, what are the trends going into 2019? We’ve asked three industry experts for their thoughts.

Mobile Access to Artificial Intelligence Will Be a Big Trend

Using artificial intelligence and machine learning will allow companies to continually sift through wage, time, location, industry, and many other types of data, to uncover insights that can be used for better, faster, smarter decisions every day. Allowing the data to be accessed through email, text, or a mobile app will lead to a more efficient and readily available system.

Providing executives and business leaders with easy to consume data can create workforce insights that show opportunities for improvement, as well as offer the chance to improve industry competitiveness. Mobile phones have created a shift where everything is available at the palm of our hands, so it makes sense that the next step for HRMS is to go in the same direction. Accessing AI on a mobile device will create accessibility by customizing mobile notifications, receiving daily or weekly snapshots of what’s going on, and taking action by collaborating with the right teams.

This advanced technology will provide a more personalized experience for each individual user and enhance business decisions in the field.

Marc Rind
Chief Data Scientist
ADP

HR Management Systems Includes More Data-Driven Tools to Help Businesses Make Better Decisions

I believe that the HR management systems of tomorrow will inspire better business decisions by analyzing all the data it’s collecting in several stages of employment to understand the behaviors of employees and send recommendations to the HR decision-makers to improve the culture and behavior of its people.

Today more than ever, we are living in a fast-paced environment. In the middle of all the hustle and bustle, it’s easy for some things to be overlooked or forgotten. However, when dealing with people, it’s crucial that all details be analyzed and taken into consideration to solve or avoid any issues. After all, these are people, not products.

We call it Smart HR, which is real-time recommendations for informed decision making that is data driven by collecting data throughout the employee journey. A kind of continuous performance review.

This will give businesses the tools necessary to make better decisions for their people and culture. I believe HR software providers are getting ready for a race to have the smartest and most connected software system on the market.

Jason Gendron
President
PurelyHR

Companies will leverage workforce analytics to tackle diversity and inclusion (D&I) issues

This is important as more companies—especially with today’s political climate—are pressured to take a stance on D&I workplace issues. For example, companies can use people analytics to get a clearer view of pay gaps and discrepancies so they can do a better job to promote fair salary compensation.

These type of features will be crucial as the spotlight on workplace D&I continues to grow, putting the pressure on HR software vendors to offer these capabilities. In 2019, more companies will understand the power HR software has to address D&I issues in the workplace and vendors will adapt to this demand.

Parijat Sarkar
Senior Director of Product Management
Zenefits

 

 

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