HR technology: invest now or wait?

While navigating the pandemic, the Great Resignation, and labor shortages, the criticality of having a skilled, diverse, engaged workforce has become abundantly clear. As a result, we saw investments in innovative HR processes and tools for the future of work grow. Now as a recession looms, these investments may be seen as not only critical, but even essential, when there is a clear understanding and evidence of how these tools support and influence the overall employee experience and business success. 

In 2021, researchers at The Conference Board asked HR leaders what technology investments they continued and/or started in 2020. In addition to using more listening/survey tools, and building better employee self-service portals, there were also ongoing investments in learning and development and talent acquisition. 

HR leaders continued to invest in AI and machine-learning tools for learning and development, and even advanced technology delivery methods such as virtual reality to elevate the learner experience. These tools are an important enabler for improving in-demand skill sets and engaging learners for continuous development.

HR leaders also continued to implement advanced technology in recruiting and onboarding by adopting automated workflows and introducing AI functionality for gains in key outcomes. HR leaders who aimed to position the company more competitively in a tight talent market did so by adopting advanced automation tools to accelerate, simplify, and elevate the candidate experience and recruiter effectiveness. 

As leaders navigate the anticipated recession, they can consider these same value-based business cases to determine the rewards and risks of continuing HR technology investments. For further insights, refer to Leaders Use HR Technology to Build Connections.