Human resources (HR) technology is having a growing influence on modern-day hiring, with about 33% of HR professionals currently adopting HR tech to support their businesses today. HR tech is software and hardware used to streamline processes like hiring, training, and retention. Everyone, from employees to HR professionals and the company as a whole, can benefit from HR tech.
The benefits of HR tech
Almost 80% of employees are convinced that advanced HR tech adoption benefits their overall experience. At the same time, more than 80% of businesses believe HR tech is a vital component of their success, while at least 75% of HR professionals credit HR tech with improvements to the recruitment processes.
Other benefits of HR tech include improving the speed of HR tasks by 40%, boosting recruitment speeds by 23%, and decreasing turnover rates by 17%. Furthermore, about 83% of HR professionals reported gaining a profit, and about 43% reported increased employee satisfaction when they used HR tech.
HR tech solutions
HR tech is continuously evolving to help create even better experiences for everyone. Let’s take a look at some popular solutions:
1. Employee referral software
Employee referral software is HR tech that allows current employees to refer new talent in exchange for other benefits or gifts. These referrals can be more attractive to companies because 45% of employee referrals stay for at least 4 years, saving companies almost $8,000 per hire. ERINapp.com is an employee referral platform that can increase employee referral hires five times while also cutting employee turnover rates by half.
2. Performance management software
Another HR tech that helps with tracking employee goals and performance is performance management software. Efficient HR teams are much more likely to use this software to improve business performance. HireRoad: People Analytics offers a performance management software program that can lead to an 80% increase in recruitment efficiency, 25% greater business productivity, and a 50% decrease in employee churn rates.
3. Applicant tracking systems
An applicant tracking system is a type of HR tech that monitors all candidates throughout the recruitment process. In fact, at least 97% of Fortune 500 companies depend on an applicant tracking system to hire the best talent. Fountain.com offers an applicant tracking system that can potentially shorten the time to hire by as much as 93%.
4. Workflow automation systems
These systems are used to develop automated workflows to reduce micromanagement and inefficiencies. More than half of companies want to focus on increasing automated recruiting measures to increase productivity and save on costs. Qualifi is an example of a workflow automation system that streamlines repetitive recruiter tasks while aiding in hiring seven times faster, increasing offer acceptance by 10%, and achieving a 98% satisfaction rate.
5. Candidate relationship management software
This HR tech helps foster positive relationships with hires. In 2023, candidate relationship management software was used by 60% of companies. Abode is one example that helps companies connect with Gen Z interns and new hires through automated workflows, which saves program managers 250 hours per year to focus on big projects.
6. Talent marketplace platforms
Last but not least is talent marketplace platforms, which help match people and opportunities with software. The best talent marketplaces can successfully pair almost 21% of people with the right opportunities. Hackajob is a talent marketplace platform that lets companies apply to top tech talent instead of having top talent apply to companies. This process helps reduce the time to hire by 40%, increase the reply rate within 48 hours by 85%, and boost the average candidate satisfaction rate to 90%.
The role of PR in HR tech success
But what is helping HR tech become well-known in today’s hiring landscape? Several HR tech companies are using an unconventional approach in the form of public relations to bring HR tech to the forefront. Companies that use this method are able to utilize media connections within the HR tech industry to secure media coverage and gain bylines in industry outlets or articles in major publications.
Facilitating interactions with top analysts in the industry can also help HR tech companies present their innovations on a reputable site and establish themselves as thought leaders within their niche.
Content creation through infographics, articles, and videos is another way for HR tech companies to engage directly with their target audience while building their brand online. Sharing thought-provoking content with their audience in the form of op-eds and podcast appearances can further build a brand’s credibility within the HR tech space.
Planning strategic events can also enhance a brand’s visibility while deepening engagement with potential customers and influential partners that can publicly support the brand. Partnering with influencers in particular can facilitate the formation of a network within a network where HR tech companies can spread brand awareness to untapped customer segments.
Summing up
The world of HR tech has the potential to spread its impact even wider in the near future with the help of a HR tech PR agency that immediately grabs the attention of the masses.
