Top 10 HRM Software Development Trends in 2024

Introduction  

Are you or your HR team struggling with daily time-consuming tasks? From onboarding new joiners to managing a heap of paperwork, to centralizing critical details of a working employee, – everything resembles the never-ending workload of Sisyphus?

This is probably why technology advances with each passing day. Technical advancements in HR operations have set the ground for emerging trends that every HR department of any industry or sector should adopt in 2024. 

You now can experience the reality where neither mountains of paperwork do not exist nor strategic decision-making gets backed by assumptions. 

To help you leverage the latest trends to streamline HR operations, we have presented the top 10 trending HRM software best practices in this blog. 

1. The Impact of AI Revolution 

What once used to be just a part of science-fiction novels – Artificial Intelligence (AI) is quickly being integrated into HR management. One of these trends that has really been rolling out lately is hyper-automation. The concept is straightforward – if a task can be automated, then why not? 

Things like payroll processing, typing employee details, and even CV screening can be automated, thereby saving time for valuable resources. The capabilities of AI chatbots are also allowing HR teams to answer questions instantly and provide relevant data that is needed. 

Powerful generative AI, backed by Machine Learning analyzes large amounts of data to make rational decisions. Just imagine you have an AI assistant for your company that can predict who will be the top performer in your team, or when someone is about to quit!

2. Tools to Better Enable Hybrid/Remote Working

Hybrid is the new normal, and remote work is here to stay. However, this change presents the types of difficulties and challenges that custom software solutions have begun to address. 

As an example, booking software for hot desks increases the efficiency of office space utilization by organizations. Working from home has led companies to think about virtual employee well-being, making room for tools like Talkspace and BetterHelp which effectively mainstream telehealth-based mental health services. 

Companies are spending money on tools like TinyPulse for regular pulse surveys to measure employee engagement levels. More advanced employee monitoring even involves the tracking of productivity, application usage, and at times sentiment analysis as well to ensure remote workers remain productive and healthy.

3. Transitioning to a Skill-Based Organization

More organizations are adopting a skill-based approach which is based on developing comprehensive skill libraries and taxonomies. Shifting the approach has the power of allowing managers to allocate resources more efficiently and employees for self-directed development. 

Developing these libraries can be a time-consuming task, and here you as an HR professional or a business owner can use extraordinary software development solutions for skill libraries.

Skills in Microsoft Viva builds on the LinkedIn skills library to provide a jumpstart here, relying on both internal and external inputs from employees themselves.

4. Cybersecurity: A Growing Concern

As remote work gains popularity, cyber security is a growing concern among business owners and HR professionals. HR departments cannot afford to be less aware of the high cost of company and employee data breaches. 

In such a threatful environment, HR professionals are eager to address this risk very seriously. Organizations often rely on HR to work with IT to develop strong data protection policies and ensure that all employees undergo cybersecurity training. 

Employees impacted by cyberattacks will require clear communication and support so planning in the event of data breach is also critical. In this case, a custom HRM software solution that critically looks after all the security-related concerns and warns the employees regarding every possible risk can save millions for your business.

5. New Era of Employee Experience Platforms

Employee experience platforms are also evolving to meet the needs of 21st-century workforces. The goal of these platforms is to bring together all the different HR tools under one easy-to-use umbrella interface. They can track individual employee paths and performance analytics, as well as add AI chatbots for menial tasks. 

These individual services improve worker experience as a whole and efficiently manage the harsh amount of data they generate for the HR teams. Having such a custom HRM software can easily increase your workforce productivity by many folds and retain the beautiful smiling faces of your HR associates.

6. Diversity, Equity, and Inclusion (DEI) Technology

As opposed to merely a cliché, DEI is an absolutely vital aspect of any modern workspace. Here comes the latest and trending HRM software solution of Diversity recruiting software. Diversity recruiting platforms leverage algorithms that enable the discovery and sourcing of diverse candidates while aiming to reduce bias in the hiring process. 

The other features that ensure transparent recruitment are skill matching and blind hiring (When details of the candidate are anonymized). DEI technology is a must-have for any organization if you are aiming to nurture diversity and inclusivity!

7. New Compensation Management Solutions

Compensation Management Software is also on the list of the most trending HRM software development practices. With the latest updated laws on pay transparency and equity, compensation management software is becoming more and more prevalent. 

More broadly, these platforms can enable your HR leaders to take on initiatives such as job leveling, benchmarking, and salary banding. Channeling the energy of tools like Pave helps to delve into granular compensation data to keep organizations compliant with countless regulations. This also helps in maintaining fair pay practices.

8. Coaching and Mentoring Platforms Resurgence

As coaching and mentoring platforms re-emerge, learning & development is getting smarter. Such HRM solutions bring employees in touch with mentors/coaches within the organization to share newly acquired knowledge and ways of upskilling. 

These platforms may not look very cool, but they are a critical part of employee development and retention. Therefore, if you manage to land the best-suited learning software for your company’s HRM, you can expect to see a highly skilled workforce dedicating their hard work to your organization’s growth.

9. Blockchain Technology

Not just for cryptocurrencies, Blockchain is also entering the HR space. You can use this technology for verifying credentials as well as all employment details that candidates mention are genuine. 

So, what are the specific use cases of Blockchain in HR? Background checks, storing employee data securely, etc is a piece of cake for this. One more area where blockchain can potentially be used is in payroll processing, especially for foreign employees! – thus helping decrease transaction costs and time taken to process. Think about it carefully, you can leverage blockchain technology in your business through trending HRM software.

10. Internal Talent Marketplaces

Internal talent marketplaces are reinventing how organizations meet their talent needs. These platforms link workers to opportunities for professional development that best complement their unique set of skills and interests. These platforms make sure that each employee has access to opportunities, be it in the form of a new role, gig, or stretch assignment. 

They are central to DEI efforts by creating an open and networked space of talent development. Hiring an HRM software solution agency for your company that can develop an internal talent marketplace for your employees can boost your competitive edge like that glass of sattu you ate for breakfast!

Can this software company in Delhi provide the best HRM software development services? 

Bluelupin Technologies is a top software company in Delhi, that specializes in providing custom enterprise software development services. You can outsource your software project to this software company in Delhi. They possess the expertise to understand your unique requirements and can analyze which HRM trends can be the perfect fit for your organization. With 10+ years of experience, their team is well-versed in the common set of problems your HR department faces and also has a solution for each sort of problem. 

FAQs

1. What is the future trend in HRM?

With the evolving technology impacting HR operations as well as increased awareness of the changing needs of employees, HRM is witnessing a few radical emerging trends. Here they are –

• Leveraging AI automation 
• Tools for better management of remote, hybrid, and in-office workers
• Impact of cybersecurity 
• Employee experience platforms 
• Diversity, Equity and inclusion technology 
• Compensation management system
• Blockchain technology 

2. What is the future of HR in 2024?

Your HR department will act more responsibly in providing effective and optimal employee experience in the workplace. By adopting AI-powered technology solutions, HR professionals will be more fluent in their daily tasks and also can manage employees better, noting the different requirements of each employee. This will boost the effectiveness and work efficiency of HR professionals as well as promote work-life balance in the workspace. 

3. What is the future of HR in the next 5 years?

The future of HR in the next five years also depends on the changing team culture. The onboarding process for remote workers will have to be more employee-focused along with strengthening company culture. The performance review system, offboarding employees, answering repeating queries, taking care of employee well-being and mental health, and every aspect of employees will be vital points to take care of by the HR department in the coming years, so that in-house and remote – employees feel inclusive. 

Conclusion 

You know how fierce the competition is out there. If your HR operations struggle to keep up with the pace of inter-departmental teams, your business can attract less money. The future of HR is brimming with AI automation, smart analytics, and better management of employees. If your HR department feels like an administrative burden, it’s high time you adopt the latest trends to empower your team with effective work processes. The success of your business organization heavily depends on it.