The landscape of Human Resources (HR) is rapidly changing. From the personnel employed to the outreach and recruiting methods, the HR industry will undoubtedly look far different in the next five years than it looks currently. Whether it be the diversified skill sets or the technology that will reshape the industry, there are three major trends emerging that are set to shake up the future of HR.
Hiring for Diversified Skill Sets
The skills sets in high demand are going to significantly change in the coming years, and these changes will not be felt by any industry more than HR. One of the main skills that will be highly sought after going forward is the ability to think and execute creatively. In fact, the demand for creative professionals is expected to grow by 23% by the summer of 2019. HR managers will be tasked with identifying creative candidates, as well as developing methods by which to measure a candidate’s ability to think creatively. In addition to creativity, HR teams will also look to bring in candidates with diversified skills like empathy, ingenuity, and positivity. No more are the days when basic skills will earn candidates roles.
Collaborative skills will also be in high demand moving forward, as 41% of employees maintain they will only accept jobs offering flexible work schedules. The remote workplace is no longer a luxury, but the standard for a growing number of employees. As such, recruiters will be tasked to find employees who can adjust and thrive under remote conditions. Working partly or fully remote requires team members to wear many hats and adapt quickly, as they may not be able to immediately seek out team members for help, and will be forced to troubleshoot issues on their own. HR professionals will need to train individuals for virtual work, and implement a more tech-forward approach to ensure team members are confident connecting and collaborating remotely.
One hiring manager asserted, “My motto is: Hire for attitude, train for skill. There’s no attribute more important. A positive attitude is a great predictor for willingness to take on new tasks and do whatever it takes for the betterment of the team.”
Although skills like attitude and positivity may not have factored into the hiring process as much in the past, these types of skills are going to significantly influence the personnel hired by HR in the future.
Social Media for Recruitment
Social media has emerged as an effective recruitment tool. Studies show that 84% of organizations currently use social media for recruitment, and this is slated to increase by nine percent in the coming year. HR managers accustomed to posting job listings and awaiting inbound resumes must be aware of this shift in recruiting, as social media is going to continue to become the most effective way to connect with candidates.
Social media provides recruiters an opportunity to engage with prospects on a more personal level. Candidates appreciate recruiters reaching out via social media, as they feel more valued and sought after. Additionally, companies are able to convey their corporate culture and values through posts on social media platforms. All indications point to social media becoming even more of a mainstay in future recruiting strategies, as 71% of HR managers say social media significantly reduced time-to-hire.
Artificial Intelligence (AI) + Advanced Technology
AI is currently reshaping the HR industry, and this trend is set to continue in the coming years. Fifty-five percent of hiring managers say they already see AI playing a role in HR, and are saving up to 14 hours weekly since incorporating AI into their recruitment strategies. AI is streamlining HR processes, with capabilities to completely automate 100% of candidate sourcing. This newfound efficiency in the sourcing and vetting processes allows recruiters to fill open positions with more qualified candidates.
Additionally, AI will help recruiters diversify workplaces in the future. Equipped with machine learning, AI software will all but eliminate inherent human hiring biases, and will ensure that qualified candidates of diverse backgrounds are being hired. Currently, African American candidates are 50% less likely to get a callback than their white counterparts, regardless of the industry or occupation. By removing biased language from job postings and vetting candidates based on qualities outside of appearance, AI will undoubtedly bring major changes to how candidates are sourced and which candidates are hired.
In order to keep pace with the rapidly-changing workforce, the HR industry has been forced to adapt. As such, recruiters have relied on newer strategies like using social media and AI to engage with qualified candidates, while also putting unique skill sets at a premium. Although there are a number of trends that will continue to shape the HR industry, these three are sure to make a significant impact in the future of HR.
Komal Dangi is CEO of Synkriom lnc. a global IT staffing company that supports both on / offshore clientele and resources. Its patent-pending product, VeriKlick, is a web-based tool for use in the HR space that eliminates candidate bait-and-switch, fake resumes and increase hiring ROI.
Cash – once the king of consumer payments – has been losing market share to electronic payments methods that deliver fast and secure experiences for consumers and merchants. Any business that sells goods or services to consumers — online or in person — must decide what forms of payment to accept. Given that consumer preferences are moving toward electronic payments, businesses are investing in expanding payment options to include next generation technologies like wearables, mobile, and contactless.
According to data from the Federal Reserve, the total number of credit card transactions in the United States since 2000 has doubled to over 33 billion per year. Debit card transactions increased even more, from 8 billion in 2000 to 59.6 billion in 2015. Between 2000 and 2015, according to the Federal Reserve, the number of noncash payments American households made on average per month grew 94 percent, outpacing cash and checks.
That’s a substantial increase for electronic payments, driven by the proliferation of new payment technologies like peer-to-peer apps, mobile wallets, mobile apps from retailers and eCommerce. Just seven years ago, a Federal Reserve payments study found that cash made up the single largest share of consumer transaction activity, at 40 percent.
In total, there are now over 161 billion non-cash transactions in North America every year, representing the movement of $6 trillion from consumers to businesses via electronic payments. Seventy percent of all retail purchases are made with electronic payments.
There are still consumers that favor cash. According to Mercator, 18 percent of consumers surveyed said it was their preferred method. But Americans carry and use less cash than ever before, and write even fewer checks, opting for the convenience and savings provided by new technologies like contactless cards, online ordering, in-app purchases and loyalty programs.
Take ordering ahead as an example. Historically confined to calling a favorite pizza shop and reading sensitive payments information over the phone, electronic payments innovation has powered fast, secure and easy mobile order-ahead solutions. Six in 10 American consumers in the 25-34 age bracket have used a restaurant or coffee shop mobile order-ahead service, and two in three Americans report choosing a restaurant specifically because it offers order-ahead. These services are growing quickly, and merchants that implement order-ahead mobile payments can provide more convenient experiences to their existing customers and engage new customers searching for dining options via their smartphones.
Mobile wallets also offer a great opportunity for merchants to boost sales and consumer engagement through smart loyalty programs and discounts. Ninety percent of American consumers participate in rewards programs, and through easy integrations, consumers can stack up rewards and discounts directly in their payment apps. Look no further than the Starbucks or Walmart app, which have rewards programs and coupons built into their mobile apps. Similarly, mobile payments services from Google, Apple and Samsung incorporate rewards programs as a proven tool for driving sales, and payments service providers are investing billions into making them easy and accessible for merchants of all sizes.
With hundreds of millions of contactless-enabled cards – which are loaded with very fast tap-and-go technology – finding their way to American wallets in 2019, merchants who enable contactless acceptance can stand to benefit from decreased checkout times, increased card use and favorable customer payments experiences. Contactless card use is particularly prevalent outside of the U.S. – in Australia, for example, more than 80% of card payments are contactless tap-and-go transactions. For smaller ticket purchases in quick service restaurants and convenience stores, contactless transactions most frequently replace cash.
Consumers care most about two things: convenience and savings. A payments strategy that embraces omnichannel acceptance — capturing customers whether they are order-ahead lovers, rewards program loyalists, or tap-and-go advocates — gives merchants tech-forward tools harness consumer trends towards cashless payments. Broadly, it will be critical for merchants to build their presence in an increasingly digital marketplace.
The proliferation has left many business owners wondering: is it time for my business to go cashless? Some have. Sweetgreen, a quick-service salad restaurant based in the Mid-Atlantic, has gone cashless at six of its retail locations. The restaurant has reported a 5 to 15 percent increase in the number of transactions an employee can perform in an hour, according to a report in the New York Times.
These innovations are backed by the fundamental advantage of electronic payments: they are safe, secure, efficient and protect merchants and consumers in the event of fraud. According to a study from Visa, electronic payments acceptance costs up to 57 percent less than payment types like cash and checks for small and medium businesses, because the losses from inaccurate cash handling, cash fraud, theft, procedural costs and labor expenses significantly exceed the costs and time associated with accepting digital payments.
The decision is ultimately one for business owners to make, based on the preferences of their customers. New payments innovations offer benefits to businesses and consumers, and cash usage is not likely to grow in the future. But it’s also true that some consumers prefer or primarily have access to cash, and that cashless storefronts might alienate certain retailers’ customers.
Merchants know their customers and their businesses better than anyone else. They know how their customers pay and how they want to pay; they know their costs and the potential gain from adapting their payments acceptance to a fast-innovating marketplace. Whether new payments innovations like contactless cards and mobile order-ahead replace cash or supplement it should be left to each merchant to decide. Regardless, the payments technology companies that power these solutions are ready to help them make their payments the best they can be.
When retailers adapt a payments strategy that takes an omnichannel approach to payments acceptance, that is well-tailored to the needs of their customers, and harnesses the latest innovation from the payments industry, then consumers and retailers are best positioned to experience the benefits of electronic payments.
Amy Zirkle is Vice President, Industry Affairs with the Electronic Transactions Association (ETA). She oversees the critical relationships between ETA member companies and the association, as well as ETA’s education and professional credentialing programs. Ms. Zirkle is an industry thought leader on business policy issues arising in the payments technology space, and represents the association before external organizations including industry forums, think tanks, and standards setting organizations.
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With the rise in the usage of SaaS (Software as a Service) apps, one of the biggest challenges companies face is keeping up with their tech stacks. It becomes difficult to keep track of how much money is being spent on these tools, whether their features overlap with other tools the organization uses, to what extent they might represent security or compliance liabilities, and who has access to each one.
Thankfully, SaaS management tools can help take some of the administrative strain off your plate.
Why You Need a SaaS Management Platform
According to studies conducted by BetterCloud, 73% of organizations believe that nearly all of their applications will be SaaS by 2020.
Managing all of these SaaS applications for an organization can be a daunting task. Specifically, this includes tasks involving:
- User onboarding and offboarding.
- Managing access permissions.
- Renewing and assigning software licenses.
- Gathering data into SaaS usage.
As an IT manager, you need to have a clear understanding of what apps your organization uses, who uses them, what sensitive information gets shared with these products, and how much is spent on the apps to be able to make informed decisions.
Cleanshelf vs Blissfully vs Torii
For those unfamiliar, SaaS management is all about achieving visibility early, gaining insight into key metrics, and using the information to make better decisions that benefit all of the users within an organization.
Put simply, as your company’s software infrastructure grows, you’ll need to take a better approach when it comes to SaaS management. One way to get started with a step in the right direction is by using a SaaS management platform.
To better manage your company’s tech stack, you need a SaaS management platform that gives you better visibility, improves your workflow, and automates day to day processes.
With this in mind, in this section, we’ll compare the key features on offer with Cleanshelf, Blissfully and Torii, to help you decide which platform is right for you.
One of the standout features on offer with SaaS management platforms is that they increase visibility into your organization’s usage of SaaS applications.
With Cleanshelf, you’re able to identify SaaS applications with active licenses that aren’t in use. The tool helps you cut back on SaaS spending by identifying unused software licenses and subscription plans.
For each application, you can track the type of subscription you signed up for, when it’s scheduled to renew, monthly active users, user satisfaction score, and anticipated monthly (or yearly) spend. The dashboard also gives you a graph view to get insight into application usage over a period of time.
Blissfully is a SaaS management platform that helps the IT department identify which apps are being used in the company, who’s using them, and how much the company spends on them. In addition to this, it lets you view your SaaS subscriptions and company-wide invoices.
What’s more is that the tool lets you filter results by app, team, or employee making it easier to get the information you need to make decisions.
Torii automatically discovers and maps out all of the SaaS applications your company uses, making it easy for you to see which ones are in heavy rotation, who’s using which application, and how much is spent on each application.
You’re able to view all of this information (and more) in a neat dashboard that gives you a quick overview in addition to data regarding users, billing, expenses, and integrations. The tool focuses on delivering a visually appealing user experience complete with reports, graphs and charts.
Once you’ve achieved visibility into your organization’s tech stack, you need to be able to make sense of all of the information you collect. Identifying SaaS application usage, optimization opportunities, and detecting unusual activity is all part of SaaS management.
At the time of this writing, Cleanshelf doesn’t offer any workflow management features.
With Blissfully, you’re able to create and track workflows for key business processes. The tool comes with built-in templates to help you get started. In addition to this, you’re also able to create custom workflows.
Blissfully also lets you keep an audit trail that automatically logs workflows and tasks as they happen – like a CRM for your stack. This makes it easy to see a detailed timeline view of when tasks were completed and in which order.
Many times, employees and team members will purchase licenses or sign up for subscription plans that are similar in terms of functionality to applications the company is already using. Where Torii shines is by making it easy for IT managers to identify application overlaps and better manage software subscriptions.
Similarly, you’re able to create custom workflows that make it easy to keep track of various business processes. For example, you might consider creating a workflow for onboarding or offboarding users, control the applications specific employees can access, or see similar applications that are in use.
There are a number of SaaS management-related tasks that can be automated to save you time. For example, you can schedule automatic application renewals, upgrades, or access changes.
Cleanshelf doesn’t support automation.
Out of the box, Blissfully comes with a handful of automation actions that you can add to your workflows.
These include automatically provisioning products, alerting users to provision additional products, taking backups, revoking account access, and terminating accounts.
Torii lets you automate day to day tasks that take much of the heavy-lifting out of SaaS management. For example, you’re able to set alerts and notifications for when SaaS applications need to be renewed or automatically assign product owners to applications for more accountability.
You’re also able to automate workflows – such as your onboarding and offboarding processes – to minimize risk and save time. With Torii, you’re able to automate various day to day tasks by combining triggers with a list of supported actions.
Your organization may already have hundreds of SaaS applications in its tech stack, which means that you’ll need a SaaS management platform to help you keep track of costs, manage permissions and get insight into app usage.
- If you’re looking for a finance-focused SaaS management tool that gives you increased visibility and not much else, then we recommend going with Cleanshelf. Although the tool doesn’t give you the option to create workflows or automate tasks, it’s a great option for CFOs or the finance department.
- However, if you’re primarily using G Suite and are looking for a tool that gives you better visibility along with workflows and automation capabilities, go for Blissfully.
- And if you’re in the market for an all-around SaaS management platform that gives you increased visibility through a robust dashboard, the ability to create custom workflows, and options for automating day to day tasks using triggers and actions, then we recommend going with Torii.
Between Cleanshelf, Blissfully and Torii, which SaaS management platform are you leaning towards and why? Share your thoughts in the comments section below.
Elianna Hyde has been a freelance writer since 2009. She has attended the University of California and graduated with masters in mass communication. She loves watching TV shows, movies and has a keen interest in sharing her views on business and upcoming technologies.
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