HR Tech 2023 – Key Takeaways

Artificial Intelligence (AI), Employee Experience, and Change Management were the focus of the 2023 HR Technology Conference & Exposition held in Las Vegas, NV. The iBTR Consulting Team attended this year’s event, gaining insight from numerous educational seminars led by thought leaders as well as participating in Provider Solution Demonstrations and meeting with solution provider leaders who attended from all over the world to discuss market trends and product developments.

Here are 3 key takeaways from this year’s event:

1. AI & Generative AI will impact the role of HR.

As HR technology solutions develop AI functions, AI is expected to alter the role HR plays—but not in the ways you may think! HR roles will be more important than ever when it comes to AI. HR will need to shift their thinking on when and how to leverage AI in the HCM Ecosystem, in addition to managing changes and concerns. Speaking of concerns, the controversies that AI presents was a topic of many discussions– namely regarding Bias, Security, and Privacy. While iBTR saw AI usage mainly leveraged in the recruiting and onboarding space, we are seeing significant AI growth in Learning and Talent Management Solutions. In Summary, there was plenty of healthy discussion around leveraging AI versus human-led interaction. iBTR predicts that the adoption of AI in the marketplace will match the rate with which the internet was adopted in the marketplace in the 90s.

2. Employees are in the driver’s seat for change, so buckle up!

Employees are truly driving the change and experience they expect. There is no surprise that providers are quickly responding to keep up with new  labor market trends such as the generational shift how employees work, access pay, manage paid time off, and what the work week looks like. iBTR identified a rise in solutions in response to these labor market trends: On-Demand Payroll, 4 Day Work weeks, Unlimited PTO, and Daily Pay. These are key desires of GenZ and they will continue to push changes into the traditional work market. Our main takeaway is to make sure you are listening to your workforce in order to maintain a competitive edge that will attract and retain the best talent.

3. Change Management is a must—assume nothing!

With workforces having an average of 10 technology changes every year, Change Management is more important than ever. In the words of Jason Averbook “Change is not the enemy; it is the strategy”. We agree! iBTR recommends HR leaders develop standards around identifying change, building change management processes, and investing in resources to help you manage change. Most importantly, be quick, be flexible, and be focused on the outcome. It is our opinion that change is our current and future mode; organizations that learn to embrace and manage change will be the most successful organizations in the future.

Did any of our takeaways surprise you? It is clear that we have significant developments coming to the marketplace. Unlike Blockchain, these are not fads. Generative AI is going to be the next major evolution post-internet and iPhone. Employees are just as important as your clients. We encourage all of our partners, clients, and prospective clients to embrace the new future and transformation that HR Technology has to offer.

Need help and don’t know where to start?? iBTR offers Consulting and Advisory Support to meet the needs of today’s forward-thinking business world. We have a robust team of consultants and technology gurus who are ready to help your HR team meet your goals and maximize your ROI and business outcomes. Email [email protected] to get started today!