Operational efficiency, agility to drive tech in 2021

Focus of technology investment will be on two areas: Customers whose expectations are up, and employees who are working from home. Efficiency will be the key

- Bastin Gerald

As 2021 begins, we are looking at the new year with a mix of optimism and uncertainty. While the steady stream of vaccines becoming available is causing optimism, the pandemic is still ravaging in full steam and the ‘second wave’ is bringing lockdown back in many countries. The pandemic’s impact on the business environment has created a few unmistakable trends. Visibility is low and there is uncertainty about demand in many industries. This has accelerated the move to digital.

Companies are investing in cloud technology, online training, digital delivery, e-commerce, logistics and customer success initiatives. The focus for new investments is on improving operational efficiency, improving agility and ability for people to work anywhere. Here are some of the trends expected in 2021.

#1 EMPLOYEE ENGAGEMENT, HR TECH BECOMES ESSENTIAL

Even before the pandemic, the move to digital was driving executive decisions to reshape their workforce. The pandemic has accelerated this trend. Companies are investing in digital marketing, customer experience and sales. Remote work has increased the need for employee engagement and HR tech to facilitate employees and managers get things done.

As more jobs have moved ‘virtual’, the applicant pool has surged. HR sometimes is receiving 10 times the number of applicants they used to receive previously. We expect investment in AI for recruitment to increase in 2021. Candidate sourcing and candidate rediscovery are two areas where AI is expected to play a key role.