In the 90’s, a “war for talent” prompted many companies to pursue software systems that would help automate the talent management process. These programs were complex, unwieldy and expensive, but they nonetheless came into widespread use as the talent management market grew.
Over time, HR specialists began to seek cohesive systems that would work together. Gone were the days of siloed, automated processes, replaced by “integrated talent management suites.” This type of software brought applicant tracking, performance management and learning management systems under one roof.
Later, tech companies would develop cloud-based HR databases – consolidating core HR and payroll functions within the cloud – for large organisations with integrated talent suites. As cloud computing became better established, and major companies grew accustomed to storing vital HR info in the cloud, these integrated systems began to replace older models of installed HR software.
Goodbye Talent Management, Hello People Management
Today, cloud HR suites continue to dominate the market, but things are shifting. Perhaps the biggest issue posed by cloud-based systems is that many of them are still too specialised to meet all of an organisation’s HR needs without the support of another software product.
Additionally, and perhaps most importantly, internet use is changing. Today, people access the web through mobile apps that can take advantage of “location, sounds, and a wide range of new sensors, making the HR applications of only a few years ago seem old-fashioned and uninteresting.” Add to this the fact that the workforce itself is increasingly mobile, and it’s easy to see why strictly web-based companies are facing some major challenges.
To meet evolving demands, a new breed of HR software vendors has emerged: those that offer a suite of “people management systems.” These systems, unlike their predecessors, offer tools for employee engagement alongside strictly operational functionalities. People management systems drive a high performance culture and create opportunities for more feedback and development, in turn contributing to a more agile, team-centric organisational structure.
Disruptions Are On Their Way
Changes in the realm of HR technology are inevitable. As Bersin puts it, “the $14-plus billion marketplace for HR software and platforms is reinventing itself. Fueled by mobile apps, analytics, video, and a focus on team-centric management, we are in the early days of this shift, but it is starting to accelerate rapidly.”
In the realm of video interviewing software, data is already leading the way to more objective decision-making. At LaunchPad, we’re developing solutions which leverage machine learning technology and predictive analytics in order to help companies make better hiring decisions while simultaneously reducing the overall time-to-hire and the operational overhead of a traditional high volume campaign. By tracking reviewers’ tendencies and behaviour, companies can identify potentially subjective decision-making, thereby ensuring right-fit hires aren’t being overlooked for the wrong reasons, and that top talent is easier to identify overall.
For recruiters and HR professionals, this is a revolutionary and exciting time for developments in HR tech.