By Smiti Deorah, Co-Founder & COO, Advantage Club – a global employee engagement platform
In today’s workplace, technology has become a crucial component. As companies strive to streamline HR processes, human resources are increasingly becoming automated, transforming the profession into a more technology-based one. The digital revolution has freed up HR from administrative tasks, enabling them to focus more on developing strategies to enhance the company’s business.
The significance of digital transformation in the workplace lies in reducing the disconnect between employees and employers. According to Gallup’s State of the Global Workplace: 2022 Report, disengagement leads to lower productivity and higher absenteeism, which impacts profitability and costs the global economy $7.8 trillion annually, equivalent to 11% of global GDP.
However, employee disengagement does not happen overnight. Although HR teams may have exerted their best efforts to connect with their employees, they must be prepared to adapt and change to create more significant employee engagement. Part of this change is embracing HR tech. HR tech can help create a more engaging and personalised employee experience by providing self-service portals and mobile apps that allow employees to access information and complete tasks more easily.
In this article, we will discuss why you should prioritise HR technology in your company and how it impacts employee engagement.
Here are five ways HR tech is improving employee engagement and experience:
1. Rewards and Recognition: Employee recognition is crucial in employee engagement, and HRs should address employee concerns and come up with quick solutions. A robust rewards and recognition program is the foundation of organisational employee engagement and has become an integral part of great workplaces to meet changing employee needs. HR tech can help organisations establish and manage R&R programs to boost employee morale, motivation, and engagement. With a robust HR tech platform, companies can acknowledge employees’ efforts instantly with just a click of a button, providing high-fives, likes, comments, and more to show appreciation. HR tech platforms also help companies tailor R&R programs to individual employees, creating a more personalised experience that inspires loyalty and commitment. A McKinsey report shows that productivity increases by 20% to 25% among teams where recognition is communicated well. The more beneficial a program is, the more likely an employee will go above and beyond to perform well and contribute to the company’s success.
2. Wellness Programs: With the pandemic changing how employers and employees view wellness initiatives, leading a healthy lifestyle has become the top priority for everyone globally. According to the American Psychological Association, 57% of employees with access to wellness-related perks report lower stress levels. HR tech can help companies create a wellness platform where employees can track and achieve their personal wellness goals with a gamified mechanism celebrated and supported by their organisations. HR tech can also provide employees with a wellness wallet that has an exclusive wellness catalog to drive employee health and make fitness fun. This initiative supports companies in achieving their employee well-being goals better, increasing employee satisfaction and lower stress levels.
3. Flexible Benefits: Technology can help companies establish a well-thought-out flexible benefits program that provides employees with the choice of benefits while remaining compliant with regulations. An HR tech platform can help companies tailor flexible benefits programs to individual employees, creating a more personalised experience that inspires loyalty and commitment. According to a study by Harvard Business Review, 83% of employees would choose additional benefits over a pay raise, making flexible benefits a crucial tool for attracting and retaining top talent. Flexible benefits also help companies attain an improved organisational culture and a strengthened employer brand, leading to higher retention rates.
4. Employee Onboarding: Companies invest considerable money, time, and resources in the hiring process. Yet, for various reasons, many people leave their jobs during their first few days. Poor employee onboarding could be one of the significant causes, as they feel they need to be more welcome into the new setting. HR tech can streamline the onboarding process, making it easier for companies to welcome new hires and make them feel valued. With HR tech, new employees can sign forms online, pick their benefits, and receive access to the company’s onboarding portal as soon as they receive a job offer. Proper onboarding solutions like these help new employees adjust better to their roles, establish good relationships, improve their performance, and increase job satisfaction. This leads to higher retention rates and lower turnover costs for companies.
5. Perks and Privileges: Perks and privileges serve as additional rewards for employees’ efforts, making employees feel valued and acknowledged. This recognition boosts morale, motivation, and overall engagement levels. Companies can use perks programs to show employees that they care and add something special to employees’ earnings. HR tech can streamline the process of curating various perks and privileges, such as special corporate offers and discounts across the globe, in a single platform. Using AI and ML, HR tech can also help companies tailor perks and privileges to individual employees, creating a more personalised experience that inspires loyalty and commitment. This leads to higher retention rates and a more engaged and motivated workforce.
Why should leaders invest in HR Tech?
Investing in HR tech can help organisations create a more interactive and personalised employee experience, improving employee engagement. By providing employees with self-service tools, effective performance management, recognition and rewards, training and development opportunities, and tools for communication and collaboration, HR tech can help organisations increase employee motivation, job satisfaction, and overall engagement. HR tech also allows staff to work remotely and work from home, improving employees’ work-life balance and job satisfaction.
Even though HR tech offers many benefits, organisations must carefully evaluate their specific requirements. To make the right choice, leaders should consider functionality, scalability, ease of use, integration capabilities, security, and support. The platform should align with the organisation’s specific needs, and be user-friendly, scalable, secure, well-integrated, and well-supported.
In conclusion, HR tech can play a critical role in improving employee engagement and experience. It can help organisations establish and manage rewards and recognition programs, wellness programs, flexible benefits, perks & privileges, and onboarding solutions leading to a more motivated and engaged workforce. With the right HR tech solutions in place, organisations can create a thriving and productive workplace culture that benefits employees and the business.