In the world of “Internet of Things”, “Big Data”, and “Cloud Computing” people and skills become critical differentiators in a knowledge-driven economy making it a number one concern for business leaders to attract and retain talent.
Increasingly, C-suite is looking to Human Resource front-runners to develop tactics and strategies for sourcing talented people, developing them in line with personal career goals, business objectives and motivate them to better heights of success.
The aptitude to recognize the talent internally is as critical as attracting high-caliber external candidates. Hence, it is turn out to be essential to achieving the transparency across strategic business divisions.
Top 4 Cloud-Based Human Capital Management Trends
1. Virtual Interviews
It is no secret that multinational organizations are becoming increasingly global and unified in a new world of work that rises above the geographical boundaries and culture. Today, companies will have to manage the challenges of having multiple teams scattered across multiple functions and locations.
This trend leads to the adoption of Virtual Interviews, with this segment eventually moving from marginal to mainstream. The cloud-based recruitment and sourcing software have inbuilt virtual interviewing functionalities presenting a more integrated, candidate-friendly and low-cost approach to evaluation and selection
2. Social Sourcing & Referral Programs
To locate the best available talent, employers must be there for candidates 24/7, presenting excellent candidate experience and employer brand that enthusiastically embrace and attract top talent.
Winning organizations are those that can harness the power of word-of-mouth referrals and social networking – both within the organization and externally – to quickly identify, engage, evaluate, employ and onboard the talent.
The cloud-based social recruiting tools like Social Referral enables recruiters and talent acquisition leaders to exploit the benefits of social networking, including scanning their social profiles and ability to send open positions to employees to make quality referral suggestions.
3. Recruitment Automation & Analytics
Recruitment automation is not a choice anymore; it has evolved as a need for an organization to win the war of talent.
With cloud-based Human Capital Management, Enterprises can construct clear candidate recruitment roadmap for different positions. Hence, it empowers the recruitment teams to get the most out of job board spend by automating the job distribution process and sourcing the right candidates faster.
Custom metrics, standard reports and dashboard measure efficiency, objectives, and effectiveness. Also, HR analytical tools enable role-based access to information, which is an excellent security feature to protect the confidentiality of the information.
Recruitment analytic reports help line managers or recruiters to make better-informed decisions.
4. Big data is getting bigger in recruitment
Across all industries and functions, Big Data is the new leading edge in competition, innovation and productivity. By gripping big data, recruiters can transform their decision-making strategy from, “I think” to “I Know” that has the farsightedness to make faster and better talent acquisition related decisions.
There are number of ways big data is applied to talent acquisition process including,
– Targeted recruitment marketing
– To reduce the turnover
– Proactive talent acquisition
Human Capital Management – Unlock its full potential
A complete HR software or workforce management tool comprises a comprehensive suite of talent management and core HR functionality, as well as refined HR analytics. These Cloud-based cloud-based human capital management applications enable teams to activate features when, and only if, they require them to meet particular business objectives.
SaaS (Software as a service) is becoming broadly accepted for Human Resources and is expected to outperform the procurements of on-premise HR software in coming years.
Following commendations can make a profound impression on moving from outmoded HR to SaaS or cloud-based HR application:
– Optimize for mobile access
– Invest more time in discovery
– Take benefits of more frequent innovation
– Make user adoption a critical success factor
– With more social processes balance confidentiality
A transformational mindset is required when shifting from supplying standard services to offering effective tactical counsel.
Today, forward-looking Human Resource teams are engaging specialists who have a blend of cloud, functional and adopting proficiency to strategize how best and convenient to apply this new generation of HR applications in their enterprise.
Beginning with small steps, take advantage of innovative cloud-based human capital management trends actually to achieve higher-level goals.