Until last year, SMEs treated payroll software as the only HR tech necessitate. But, given the magnitude of disruptions that COVID-19 has brought with itself in the business world, the HR tech adoption now has turned into a jigsaw. The many questions buzzing around the topic have made the future of work blur.
As we all continue to navigate and lead our people during this COVID- 19 crisis, HROne organised yet another successful webinar on July 28th, 2020 in their Future Of Work Series on HR tech Adoption by SMEs. This time, the panel was graced by the Industry Veterans – Sameer Vakil, Co-founder and CEO: GlobalLinker, Vishal Dembla– Director & executive team member: PersolKelly, Karan Jain, Co-founder: HROne, and Thomas Abraham, Founder: HR2Tech (Webinar Moderator).
In this blog, we share with you some of the major highlights. Take a look!
On challenges SMEs are facing and the transformations we may see-
We all are starting from the same line and discovering the new normal together, no one is ahead. To form views, many communities are being created now as people from different industries are coming together. The biggest challenge for businesses moving is to think as to how moving forth they can create value for customers/ clients and employees from here. The SMEs now, due to the severity of the situation need to think out of their own domains.
The only SMEs that are rising above these challenges are the ones who are open to see, scout the opportunities and are unafraid of technology.
On discontinuity due to COVID-19 and HR tech adoptions-
The virus is acting like the Chief Change/ transformation officer. It is acting as a catalyst, it has preponed the tech adoption by 5-10 years by creating a bigger need for it. Infact, according to a research, 76% SMEs are relying on Digital Tools.
Note: You can watch the full webinar video here to dive in-depth into all the highlights we are mentioning in the blog.
On early trends in HR tech adoption-
There were five major trends in HR tech adoption identified by our panelists. Currently, due to the continuity of the remote work model or adoption of hybrid work model by SMEs around the globe, the need for virtual communication and collaboration is the highest. Secondly, the rise in demand is seen in engagement and wellness space. More than ever, if we look at it from the recruitment needs angle, video interviewing platforms are finding their buyers. Back then, this was not considered necessary.
The biggest overall trend in the way businesses work is the hiring of employees in remote locations and having faith in them. While the increase in demand of tools for measuring performance was expected, one astounding trend has been the rise in the remote platforms launched. Every month 2 to 3 new tools for managing work remotely are being introduced.
What did over 200+ webinar attendees think?
The two polls conducted during the virtual conference to gain more perspective, we observed-
- 65% are very likely, 33% said somewhat likely on the question if COVID will lead to feather HR tech adoption.
- When asked about what HR tech tools are SMEs more likely to adopt, as per the audience, payroll, employee engagement, productivity tracking would be more in demand.
So, we are saying…
As tech companies, the vendors need to understand the current market situation and then innovate and move beyond their standard solution offering. The SMEs for quick adoption of technology by their people must invest in an HR software that magnifies incentive programs, is gamified, provides clarity to the employees, helps in training them and supports the leadership in communication. Instead of buying point solution keeping in mind the immediate organisational needs, they must go for an integrated solution that helps them engage, collaborate, manage attendance payroll, performance, everything! If the software comes with a mobile app, nothing like it.