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2023 HR Technology Trends: What's New and What's Next
- 1. 2023 HR TECHNOLOGY TRENDS: WHAT'S NEW AND WHAT'S NEXT DECEMBER 6, 2022 AT 9:30 AM PT, 12:30 PM ET, 5:30 PM BST
- 2. Our mission at GoCo is to help small businesses spend less time on manual, painful, and complex HR tasks, so they can focus on growing happier, more productive teams. We hope by doing so, we can empower companies to focus on their own employees and mission. Backed by notable investors such as Salesforce Ventures and featured as the #1 HR platform in Forbes, Huffington Post, and Entrepreneur Magazine, GoCo is delivering a more delightful workplace to thousands of businesses and their employees. Learn more about what separates us from the pack at goco.com
- 3. TO USE YOUR TELEPHONE: You must select "Use Telephone" after joining and call in using the numbers below. United States: +1 (631) 992-3221 Access Code: 244-190-108 Audio PIN: Shown after joining the webinar TO USE YOUR COMPUTER'S AUDIO: When the webinar begins, you will be connected to audio using your computer's microphone and speakers (VoIP). A headset is recommended. Click on the Questions panel to interact with the presenters
- 4. 2023 HR TECHNOLOGY TRENDS: WHAT'S NEW AND WHAT'S NEXT
- 6. About Me • Chief Research Officer, Lighthouse Research & Advisory • Author, Artificial Intelligence for HR and Talent Scarcity (Winter 2022) • Host, We’re Only Human Podcast • Founder, HR Summer School (5M minutes watched in the last 24 months) • Dad of four (12 and under) Ben Eubanks
- 8. Poll What are you most hoping to get from today's session? A. Some of the hot trends around HR technology B. Examples of other companies and how they are using HR technology successfully C. An idea of which HR Tech providers are worth considering D. All of the above
- 9. 6 HR Tech Trends for 2023 A Strategy for Skills Talent Intelligence Development Drives EX Employee Listening Behavioral Nudges Navigation and Decision
- 10. A Strategy for Skills
- 11. #1 way skills are captured is through manager observations LHRA 2022 Upskilling, Mobility, and Talent Development Study
- 12. Real-Time Skills Analysis and Recommendations
- 14. 8 in 10 employers Said that hiring went from an HR priority to a business priority in the last 12 months LHRA 2022 Talent Acquisition Trends Study
- 15. • What skills drive our business? • Where do those skills exist? • What does the talent cost?
- 16. Development as a Key EX Component
- 17. 83% of candidates want to know about career growth during the hiring process LHRA 2022 Talent Acquisition Trends Study
- 18. Case Study: Audible’s Returnship Program • Supriya Mimani • Learning as a Retention and Performance Lever • Targets caregivers who have been out of the workforce for at least one year • 16-week paid internship with potential for full-time offer
- 20. New Research: The best listening frequency is in sync with employee expectations, not predefined by the employer. LHRA 2022 Frontline Worker Trends
- 21. Macro Level Personal Level
- 22. Behavioral Nudges for Action and Bias Prevention
- 23. Use Cases Retention Prediction Recruiting EE Listening Paid leave usage
- 24. Predicting Retention • Identifying internal best practices • Targeting support where it’s needed most • Savings tens of thousands of dollars on turnover costs LHRA.io/guardant
- 26. More than half of employees Say “my employer offers more benefits than I can easily remember.“ LHRA 2022 Health and Wellbeing Study
- 27. Case Study: “Let’s Talk” Day at Bell • Monika Mielnik, Director of DEI and Mental Health • 1/3 of Canadian disability claims are related to mental illness • Reduced STD claims by 20% and recurrences by 50%
- 28. Key Takeaways • The technology is getting smarter, but demand is increasing for HR professionals that understand how to get the most from the tools • AI, algorithms, and automation are a reality, and the best organizations are blending those in to give HR more people-focused time • The future of HR technology is personalized at the employee level, from hiring and benefits to development and engagement
- 29. Contact me: research@LHRA.io Learn More Get our latest research LHRA.io/access
- 30. Ben Eubanks Ben Eubanks - Chief Research Officer, Lighthouse Research & Advisory lhra.io/ Webinar Coordinator, Human Resources Today Rayvonne Carter /in/rayvonnecarter/ humanresources today.com Q&A /in/beneubanks /
Editor's Notes
- NYC and salary transparency laws. Lots changing. Let’s see how the HR technology market is keeping up and leading the way.
- What is disruption? It’s what results when you get an unexpected change. Solve one problem, another one is created. Disruption is GOING to happen. The question is how you are going to be able to respond.
- ***We have a research advisory council. If you enjoy today’s conversation, I am always looking for forward thinking talent leaders that want to contribute and learn from the research. 2 types of research Book: boring textbook, and it is. Cornell. NYU. But it’s a book about making work more human.
- Skills Strategy Lots of areas like Hiring, growth, mobility... De-biasing decisions and making them tangible. But the big question: Where should skills info live? In a workday skills lcoud in your HRIS? In an LMS? In a talent solution like a phenom or retrain.ai? And how do we make it more actionable?
- We need a better way. Bias, even for well meaning leaders.
- Eightfold example Technology example. Apply for job, show your match vs skills for the job and your competitiveness for the role
- Define and give quick context Hard to hire. Using supply/demand data to make more strategic decisions. Not just adjusting comp, but can we hire 1,000 of these people and do they even exist in this market, or do we have to hire remotely to find them? Big questions. Labor market insights
- For a long time we’ve been unclear about the cost of filling a role, and the cost of not filling a role. We know a sales person who we don’t hire leads to x less revenue. But what about a maintenance worker, a nurse, or a teacher? We’re having to get better because we’re seeing real impacts from this. There’s been a nursing shortage as long as I’ve been in the workforce, but we’re seeing shortags of all these other kinds of workers too.
- One of the largest global airlines building TI function… Where do we put our new operations? Where does the talent exist? What does the talent cost? How do we make big decisions but also localized decisions by job as well? Kristi H&R Block hiring
- EX is fluffy. Too vague and unhelpful. Like when great resignation said ½ of workers would leave. You all said “okay what half?” We need to get more specific and targeted to make an impact. In this case, training is a key part of someone's experience at work and is how we show them we believe in them by giving them more skills and development We all want a path ahead. 2 in 3 workers have left a job because of a lack of career growth
- Reminder: managers are employees too. More companies are looking at selecting and developing them so they can be more effective as well. Let’s take a look at a story that’s really intriguing about one organization that is weaving a unique development opportunity into a powerful impact on employee experience.
- Our 16-week, paid returnship program is called Next Chapter. The program is open to professionals with at least five years of experience who are returning to the workforce after a career break for caregiving of one or more years. If you meet these criteria, we welcome you to apply! During the returnship, you’ll have the opportunity to revamp your skills, update your resume with new experience, make connections, contribute to a team, and possibly convert to a full-time position. Along the way, you’ll receive invaluable advice, support, and mentorship from Audible’s Next Chapter program managers and from Path Forward. The returnship program is 100 percent virtual. Upon successful completion of the returnship, there is a possibility of an offer of full-time employment. Our program offers fully remote roles as well as roles based in our Newark, NJ, Cambridge, MA, or Los Angeles, CA hubs.
- this helps us be more responsive, especially in times of intense change. ***2020 stat 97% of companies say HR tech makes more agile. World is too fast for a one time survey. And that once a year approach may be worse than nothing at all.
- AI is better than humans at some things. Seeing patterns in data. Nudging us to take action. This is one of the areas I’m really watching AI bring value to HR technology. We can't see everything, and it's hard to know what decision to make. We're going heads down as fast as we can. The technology is getting better at guiding our decisions and helping us take the right action at the right time.
- Praisidio on retention prediction Recruiting: have you added a diverse candidate to this slate? EE listening: manager action planning Paid leave: you haven’t taken time off, would you like to?
- Blood test to replace biopsies for some diseases.
- We need more help making choices. Humans are bad at deciding when there are multiple variables. Jelly experiment. Recently in the news we saw that ADP partnered with Nayya to bring that into the Adp WF now platform for decision support. We need it.
- It’s not just health insurance anymore. Even smaller emloyers are accessin mental health, financial wellbeing, and other resources for their employees. Flex spending. The number just keeps growing. We need to get our full value from these tools. Help every employee get a personalized response. If your people aren’t usin the tools and adopting them, you’re wasting money as an employer. Let’s see a story about one company that made this a top priority and what results they had.
- Goal: reducing stigma
- Thank you so much for your time, for your engagement, and for the work you do. In the last two years, every time someone has stopped to thank a front line worker, I have applauded, but I’ve also said and thank yo uto the HR pros who are hiring, training, paying, and retaining those staff so they can continue to serve. You won’t get a standing ovation out there, but in here, we know your service, your dedication, and your impact. Thank you.