A Week in HR Tech – TecHR Round-up for 16th December 2019

Quote of the Week

Quote of the week

Top News of the Week

Paycom Named to Glassdoor’s Best Places to Work List for 2020

One of the major providers of comprehensive, cloud-based HCM software solutions, Paycom Software Inc. was once again recognized with an Employees’ Choice Award as one of Glassdoor’s 2020 Best Places to Work among large-sized U.S. companies. It stood at No. 65 on this year’s list.

“This honor is especially significant, considering it is based on the cumulative opinions of those who are and have been a part of the Paycom family” – Paycom’s founder and CEO, Chad Richison

TriNet Recognized as a Top PEO Company for Small Business

TriNet, a leading provider of full-service HR solutions, tailored by the industry for small and SMBs, was recognized by Fundera as one of “The 4 Best PEO Companies for Small Business.” TriNet earned the recognition for its “powerful technology, including a mobile app, comprehensive HR software, employee self-service, and online benefit enrollment, all on modern, streamlined interfaces.” A company serving over 16,000 SMBs from across the globe, TriNet recently launched its mobile app to provide users with 24/7 access to valuable HR data.

Bullhorn Empowers Staffing Firms to Build Future-Proofed Tech Stacks with Bullhorn Marketplace

Bullhorn unveiled its all-new Bullhorn Marketplace with a new website, new online resources for building customer tech stacks, and an increased investment in enabling its teams to bring partner solutions to customers. The Marketplace gives customers choice, confidence, and customization when building a tech stack to unify their teams, systems, and data start to finish and to provide the maximum ROI.

HireRight Onboarded New CRO

A company dedicated to delivering preeminent background screening services with a focus on the candidate experience, HireRight announced the appointment of Scott Collins as its Chief Revenue Officer.

“Scott has a track record of proven operational success, and we are excited to have him join our team. He joins HireRight with a deep understanding of how to manage the components of an organization to reach revenue benchmarks and drive success” – Guy Abramo, HireRight’s CEO

ADP Allows Access to ADP Workforce to W. P. Carey School of Business Students

Business students seeking a bachelor’s degree in HR from Arizona State University’s W. P. Carey School of Business can now leverage ADP’s all-in-one HR solution ADP Workforce Now. ADP Workforce Now is woven throughout the semester, allowing students to interact with test data in one of the market’s most widely used platforms. Students will also have the opportunity to pursue an ADP Professional Certification after completing the available curriculum in the future. Students will complete the class with both practical knowledge and practical experience.

Q&A with the expert

What are some best practices when it comes to choosing the right HR Tech tool?

TecHR Interview with Przemek Berendt

“In my opinion, the HRTech market is where the Marketing Tech market was some 8-10 years ago. It will take time for winning technologies and brands to capture the market. So I would rather say it’s more about your culture and processes than your choice of the best tools. In fact, it can occur that the small start-up, you decide to cooperate with, can bring you more value than a trusted, expensive solution which everybody already has.”

Excerpts from TecHR Interview with Przemek Berendt, Founder of Talent Alpha

Research and Findings

HCM Market Estimated to Be USD 16.7 Billion in 2019, Projected to Reach USD 26.5 Billion by 2024; CAGR of 9.7%

The HCM market is estimated to be USD 16.7 billion in 2019 and projected to reach USD 26.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period, as per a report by ResearchAndMarkets.com.

The HCM market comprises major solution providers, such as Workday (US), Oracle (US), ADP (US), SAP (UK), Microsoft (US), IBM (US), Ultimate Software (US), Ceridian (US), SumTotal (US), Kronos (US), Infor (US), Cornerstone (US), Meta4 (US), Ramco Systems (India), Bamboo HR (US), Namely (US), and Workforce Software (US).

Screening of Contingent Workers Raising a Variety of Concerns, Including Confusion about Laws and Regulations

Gig economy is impacting hiring and staffing practices, and screening of contingent workers is a big issue, a report by Sterling reveals. The report also points to the fact that a majority of respondents do not incorporate fingerprinting into their screening process for new hires and a very less percentage actually use social media for screening purposes.

“With the growing gig economy, identity fraud issues, and changing drug laws, the modern HR team must be informed, resourceful, and forward-thinking. Among the tools available that maximize safety and minimize risk are continuous monitoring, social media checks, and biometrics scanning” – Debbie McGrath, Chief Instigator and CEO of HR.com.

Job Seekers Who Lie to Get the Job Are More Likely to Be ‘Problem’ Employees

A research published in the Journal of Applied Psychology, by researchers from Curtin University, conducted three different studies to determine how potential job applicants might ‘fake’ information about themselves throughout their job application so they can appear more impressive to an employer. The research found that some job seekers are more likely than others to exaggerate their knowledge when applying for a competitive job – and those employees are less likely to follow instructions once they get the job.

From the team at TecHR Series

Are you Prepared for the Future of Work?

Emerging technologies like Automation, Artificial Intelligence (AI), Robotics are transforming how the global workforce performs their daily tasks and collaborates with distributed teams, while also reshaping how we work by redefining the skills needed to adjust to changing market dynamics.

Given the changing dynamics in the marketplace today, are you prepared for the Future of Work?

Jobs Are Changing Because Of Artificial Intelligence

The research examined the impact of Artificial Intelligence on employment and inferred that the result will be a significant decrease in the number of tasks. It additionally stated that work that would require “soft skills” would be given more focus on. The study revealed that there was a 46% larger decline in demand for tasks that are more apt for AI and ML. Tasks are shifting between people and machines, but the change is slow.

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