HR technology is undergoing one of the most disruptive periods it has seen in a decade. Investors, seeking the next big thing in breakthrough technology, plunged more than $2 billion into HR tech systems and platforms in 2016, according to CB Insights, a venture capital database. While investment to date is on track for a slight decline from last year, deal activity in HR tech has grown consistently in the last 5 years and at the current rate is expected to increase more than 15 percent over 2015. This amazing investment growth—much of it spent on integrated human resource management system (HRMS) platforms for midsize companies—illustrates the industry’s volatility.
That instability is being driven by the shift from cloud to mobile; the explosion in analytics and artificial intelligence; and the emergence of video, social recruiting and wearables in the workplace. Everything is changing, and quickly—including the types of technology HR professionals use, the experiences those systems deliver and the underlying software designs—making many of the traditional HR systems purchased only a decade ago seem out of date.
With these developments and more reshaping HR, business leaders would be wise to understand the following nine technology trends that will shape the year ahead and beyond.
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