With the rapid changes in today’s digital world—from globalization and organizational adjustments to a younger workforce clamoring for remote and mobile job opportunities—human resources must have to adapt swiftly, says leading solutions integrator Genie Technologies, Inc. (GenieTech).
GenieTech Chief Operating Officer Mahesh Gopinath said that the most valuable asset every country has today is their labor force, especially that business organizations are now dealing with a millennial workforce.
In the Philippines, the labor force participation rate (LFPR) among 15 years old and over is at 60.2 percent, translating to over 72.5 million Filipinos, as revealed by the latest Labor Force Survey.
“To ensure that this dynamic, millennial workforce is seamlessly integrated into the operations of the organization, it is crucial for businesses to have the right tools,” added Gopinath.
As part of its commitment to helping local HR departments gain valuable insights on this matter, GenieTech is currently holding a series of symposiums on Human Capital Management (HCM) this year. Recently, the company gathered HR practitioners and decision-makers in an event, dubbed as “The Future of HR and Payroll with AI and ML,” at the Grand Hyatt in BGC, Taguig City.
With the aim of providing new concepts and tech tools that currently emerge in the world of HR, the said event featured GenieTech partners, such as global HR and payroll solutions provider Ramco Systems, as well as a global company SumTotal, which provide strategic modules around talent acquisition, Talent Management, and Learning Management System.
According to Sophy Malik & Anze Sporavec of SumTotal, this emerging need for local businesses to take advantage of new technologies should be included in their digital transformation strategies.
“There is no denying that most organizations in the ASEAN region are now engaged actively in digital transformation. What these organizations should consider, however, is how they can future-proof their business for growth and scale,” said Malik.
Ramco Systems Director for Global Marketing and Partnerships Prakash Ramnath could not agree more. He said that “the millennials are an emerging, partly-generational, partly-cultural workforce and, most of them are more comfortable using mobile apps rather than SOP systems. For organizations, that means a huge generational shift. Thus, it is important that HR and payroll are also transformed by emerging technologies.”
Ramnath also noted that cutting-edge technologies, such as artificial intelligence, machine learning, bots – also called ‘chatbots,’ facial recognition, and voice recognition are now being used in HR not just to streamline processes but also, to provide a better experience to employees.
He added that for a fun and effective way of employee learning and development nowadays, gamification is also incorporated in HR Systems. These enhanced capabilities include leaderboards, badges, points and other elements all of which allow users to get their name on highly desirable ‘the table/list’ and, see how they rate against their peers.
Aside from the symposium on HCM, GenieTech also conducts a series of events around various technologies.