Employing HR Technology Throughout Businesses

Human resources (HR) departments across all major businesses are undergoing a revolution thanks to modern technology. This technology is crucial for improving procedures like hiring, onboarding, and retention. With the help of various HR-related software, there has been a 40% increase in speed and efficiency for HR tasks. This technology is crucial for driving satisfying work environments for employees that encourage retention and loyalty.

Employee referral systems are one of many cutting edge HR innovations. By providing incentives for current employees to recommend top talent, these systems have resulted in 45% of referred hires staying with the company for more than four years, which saves companies over $7,500 for each hire. Referral software such as Erin claims a 50% decrease in employee turnover and a five-fold boost in referred hires.Applicant tracking systems (ATS) have also been an important invention in helping monitor candidates from recruitment to hiring. ATS systems, such as Fountain, are used by 97.4% of Fortune 500 companies thanks to their ability to expedite the hiring process. Three other useful software include workflow automation systems, candidate relationship management software, and talent marketplace platforms. These HR tech examples have demonstrated an amazing return on investment for companies, according to 83% of HR professionals.

Source: Talent Tech PR