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HR tech trends expected for 2022

[ad_1] By Vicky Jain, The COVID-19 pandemic has brought a paradigm shift in the way people work. Over the past couple of years, there’s been an increasing focus and reliance on technology to help people work remotely and make lives easier. The HR tech landscape has also witnessed the inception of cutting-edge technology to assist in talent management, recruitment, learning & development and other HR functions. The 2021 Gartner HR Budget and Staffing Survey shows that more than one-third of respondents want to increase their HR technology budgets over the coming years. With emerging technologies changing the way HR managers hire, recruit and manage employees, 2022 is going to further reshape the way businesses are conducted in an ever-changing tech landscape. Here’s a look at the HR technology trends for 2022 that’ll have a significant impact on the future of work.  Assisting Hybrid and Remote Teams A study by global staffing firm Robert Half shows that about 1 in 3 professionals (34%) presently working from home due to the COVID-19 pandemic would look for a new job if required to be in the office full time. In another study conducted by WeWork and Workplace Intelligence, 79% of executives are of the opinion that they will permit their employees to split their time between remote working and office work if their job allows for it. What is clear from these studies is that hybrid and remote working is here to stay and 2022 will see further upgrades. Business functions are going to become asynchronous there’ll be no telling when employees will log in to start work, send in requests and applications to HRs and other things that might require the attention of human resource departments. As a result, HRs have to deal with plenty of new challenges in their daily tasks. Thus, certain onboarding software and HR tech tools are likely to be adopted to resolve the complications of remote and hybrid working practices. Businesses will also be looking at project management and messaging suites to keep employees up-to-date and retain high level of communication. AI in Recruitment The pandemic has resulted in thousands of job losses across companies and also the battle for the right talent has grown competitive. The ‘Great Resignation’ implies that people are leaving the workforce and a large number of employees are simply reconfiguring what their careers look like. Organisations now have to navigate the ripple effects of the pandemic and re-evaluate how to retain talent. That’s where AI’s importance comes into the picture. Apart from remote interviewing, recruitment and on boarding, HRs are expected to use AI to recruit and hire the appropriate candidates to navigate the new and competitive battle for talent. HRMS are increasingly using AI in their everyday duties, and HR departments are expected to follow suit in 2022. With a deeper understanding of digital and cloud technology, HRs are making significant contributions today to create and maintain a productive workplace using human resources management systems (HRMS). Features like automated payroll system, virtual biometric, attendance tracking, leave management, performance appraisal, employee engagement and better accessibility to disabled people are allowing HRs to automate numerous tasks while freeing up time for planning high-value activities, creating talent experiences and building talent strategies. AI can also assist in employee training and development through virtual reality or augmented reality. Some of the AI-based tools can help HRs uncover potential reasons for turnover and avert employee departures.  Performance and Wellness Management In 2022, it is expected that employee performance management will be a real-time, integrated and continuous process. Tech-enabled performance management systems will seamlessly integrate various needs and preferences for goals to be reviewed and monitored on an as-is basis. A performance management system will no longer be a tool just to measure performance — it’ll actually fulfil its potential by tracking and managing performance. Good performance management systems will link to recruitment systems to showcase the performance of different hires. People analytics will also help recruiters figure out the common patterns for successful recruits. Apart from performance management, employee wellness will be a key area of focus for organisations in the year ahead. Companies will need to take a serious approach to employee wellness and ensure their programs create a happy and thriving workplace. In the present day world, stress is a common and chronic health problem. Anxiety, depression and other mental illnesses are on the rise. Technology can come in handy as it can provide a holistic overview of an employee’s health, sharing their well-being data at the workplace with their healthcare provider through one, easy-to-use platform. IT solutions to problems like stress, burnout and depression include more specialised training for employees coupled with digital wellness apps and platforms that take a holistic approach to employee health. Indeed, with the right tech tools, HRs can prepare their employees for the future of work and its potential health costs. Cybersecurity With the rise in remote and hybrid working models, there’s been a pronounced rise in digital crime and cybersecurity issues over the last year and a half. Malware and Phishing are the most common cybersecurity risks. Thus, creating a secure environment and implementing the best cybersecurity practices is surely going to be one of the key future HR trends in 2022. In the years to come, Blockchain technology would significantly improve data security. Also, HR departments will need to collaborate with IT experts and outside contractors to keep business data safe and secure. Otherwise, the business may face significant repercussions like lost profits, lawsuits or a damaged reputation. Final Thoughts 2020 has shown that technology is crucial to maintain a stable level of employee engagement, satisfaction and stability. To keep up with the changing demands of businesses, HR professionals will need to be at par with the latest technological innovations to enable employers to become more agile and adapt to the fast-changing business landscape.  (The author is Founder  uKnowva. Views expressed are personal and do not reflect the official position or policy of the Financial Express

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South Korea marks deadliest day of pandemic as omicron looms

[ad_1] South Korea set a new record for COVID-19 deaths on Thursday as officials warned that the highly transmissible omicron variant could soon become the dominant strain.In recent weeks, South Korea has been grappling with soaring infections and deaths after it significantly relaxed restrictions in early November as part of efforts to return to pre-pandemic normalcy. The Korea Disease Control and Prevention Agency said a record 109 people died in the last 24-hour period, raising the country’s total number of pandemic fatalities to 5,015. It said the number of patients in serious or critical conditions also hit a fresh high of 1,083.The agency said that additional 6,919 people have tested positive for the coronavirus, bringing the national caseload to 589,978. It said authorities have also confirmed 12 more cases of the omicron variant, pushing the total to 246. The delta variant is currently accounting for a vast majority of the newly reported cases in South Korea, but that could change soon.Senior health official Lee Sang-won said earlier this week that it’s possible the omicron variant would become the dominant strain in South Korea within one or two months. Jaehun Jung, a professor at Gachon University College of Medicine in South Korea, also said that “a meaningful (level) of infections caused by omicron could occur in our country in February or March.” Alarmed by record-breaking surges of new infections and deaths, South Korea on Saturday restored its toughest distancing rules, such as a four-person cap on private gatherings and a 9 p.m. curfew on restaurants and cafes. The surge has threatened to overwhelm hospitals and was straining the country’s health care.Health Minister Kwon Deok-cheol said Wednesday that South Korea is at “a critical juncture” as the danger of its medical system reaching limits grows. He said breakthrough infections and transmissions among unvaccinated people are responsible for a rising number of critically-ill patients, which he said is much higher than the government had earlier expected when it eased distancing curbs at the start of November. According to government data, 36 people have died at home or facilities while waiting for beds between Nov. 28 and Dec. 18. Other data show that as of Wednesday, about 80% of beds at intensive care units for COVID-19 patients in South Korea were occupied. Kwon said the government plans to secure thousands of new beds and establish a capacity to deal with 10,000 new cases. [ad_2] Source link

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pTron Bassbuds Tango: Wireless earbuds with great sound, long battery life

[ad_1] The Indian consumer is extremely value conscious and makes very considered purchasing decisions, even in the realm of gadgets. Taking a cue, homegrown Hyderabad-based electronics firm pTron has built a strong reputation in the marketplace as the provider of affordable audio accessories products. Take, for instance, the company’s new ENC series wireless earbuds pTron Bassbuds Tango. With remote work and entertainment as the new norm, pTron sought to develop a next-level earbud that would deliver superior voice quality with an additional feature to take care of GenZ’s entertainment needs. The new device, Bassbuds Tango, aims to make work and entertainment seamless by redefining phone calls and movie-watching experience. The all-new pTron Bassbuds Tango TWS earbuds are available in two colour variants on Amazon India—Active Black and Stone White for a price of Rs 1,299 and come with one-year warranty. Equipped with innovative and industry-leading DSP ENC technology, Bassbuds Tango efficiently filters out ambient noises from the background to offer great sound and clearer phone calls. The dedicated Movie-mode feature ensures zero lag between audio and visuals for a long movie and binge-watch session. The Bassbuds Tango boasts the latest BT5.1 connection with one-step pairing for fast and seamless connectivity and zero falters. With a 32-bit DSP processor FPU, built-in AAC codec for Hi-Fi audio, and acoustic echo cancellation, the Bassbuds Tango packs a punch with its 13mm BASS boosted drivers. Offering a robust true-wireless experience, the earbuds also feature intuitive smart touch control that allows easy toggling between music and dedicated movie mode, control music/calls. You can also activate the smartphone’s voice assistant with just a few easy taps. Packed in a chic, minimalistic matt-finish body, the earbuds are IPX4 certified for sweat and water and come in a comfortable-to-carry 400mAh charging case offering 20 hours of total playback. The charging case also features a convenient Type C port that offers three hours of playback on the earbuds with just 10 minutes of charging. Estimated street price: Rs 1,299 [ad_2] Source link

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Existing home sales data continues to outperform

[ad_1] The National Association of Realtors reported that existing home sales for November came in hot at 6.46 million. This number is above my sales trend peak of 6.2 million, which means we have now had three straight months of sales of over 6.2 million. Early in the year, I wrote that if existing home sales stay in a range between 5.84 million and 6.2 million, that would mean it’s a good year for housing demand. We ended 2020 with 5.64 million, so every single existing home sales print in 2021 has been higher than what we closed in 2020 — which was higher than any single year from 2008 to 2019. Regarding the sales range for 2021, I had anticipated a few prints under 5.84 million and we only had one print under that number. Now, sale trends are growing into 2022 with a more positive tone. The housing crash addicts in America had a terrible 2020 and 2021: I have always stressed that these people are professional grifters, not housing analysts. However, before we go into this report, I have to explain why so many people missed this surge in demand in the second half of 2021. It’s the same reason I have given for many years: the American bears who are typically housing crash addicts can’t read data correctly, and the mortgage purchase application data just proved my point once again. Early in the year, I talked about how the purchase application data would be negative year over year in the second half of 2021 due to the make-up demand in 2020 creating abnormal high comps. Typically, volumes always fall after May, but of course 2020 was an abnormal year. Knowing that the housing crash addicts on YouTube, Twitter, Facebook, and Clubhouse would incorrectly push the negative year-over-year data spin, I wanted to get ahead of that narrative. Then everyone went crazy on investors and iBuyers, suggesting that these people were holding up the entire housing market. I understand that grifters have to keep the grift going, but not even the Joker would say that the housing market lives off investors and not mortgage buyers. What has happened is that purchase application data made a noticeable push higher in the year-over-year data starting 16 weeks ago. So for four months, this data line was getting better and better, and so many people ignored it because they didn’t know where to look. Since September, we have had a double-digit year-over-year growth trend, which is a big deal in this data line while the data was still showing negative growth year over year. This would have been easy to spot if you had made COVID-19 adjustments to the data and recognized that the year-over-year declines were getting much less. Now, we can see why existing home sales, pending home sales, builders confidence, housing starts, and housing permits look better toward the end of the year: we are back to that 300 level in the MBA index that I have often talked about. As you can see below, we don’t have a booming credit housing market as we saw from 2002-2005; we have steady replacement buyer demand. In 2020-2024, we just have that kick from the most prominent housing demographic patch ever recorded in history, as ages 28-34 are the biggest in America and need somewhere to live. You don’t need to make it any more complicated than that. All this information was available for people to read in the Census data — it wasn’t hidden. I can understand if this was the 1500s and you needed to dispatch horses to get information that might come to you many months or years later. However, it’s 2021. We have the internet, access to census data is open to the public, and reading is a good thing. This is why I stress my two rules always when talking about economics: Economics done right, should be boring You always want to be the detective, not the troll. Anyone who has been predicting a housing crash every year from 2012-2019, then went all-in during 2020, only to double down in 2021 and push for a second-half crash in 2021 — you have all lost your privileges to talk about housing ever again. Now on to the report and some of the details from NAR. Home sales From NAR: Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums, and co-ops, grew 1.9% from October to a seasonally adjusted annual rate of 6.46 million in November. As discussed, sales trends are now above my 6.2 million level for three straight months, aligning with the better mortgage demand growth that we saw for four months. Typically, purchase application data looks out 30-90 days, and we know that we will be dealing with COVID-19 comps to mid-February. One last item with existing home sales, our best sales prints the previous year, this year, and even in the previous expansion have all come in the winter and fall, not the spring or summer. This is a fact that not many people consider. Home prices and days on market From NAR: In November, the median existing-home price for all housing types was $353,900, up 13.9% from November 2020 ($310,800), as prices increased in each region, with the highest pace of appreciation in the South region. For every positive, we do have a negative, and as we can see, the housing world is just different in the years 2020-2021 than what we saw from 2008-2019 regarding home prices. While the growth rate or pricing is slowing because we don’t have a credit boom in housing, the increase in prices in the first two years of my 2020-2024 time period has reached my comfort zone of cumulative price growth of 23%. Higher mortgage rates would create more days on the market, but this would mean the 10-year yield getting above 1.94% with duration in 2021, which wasn’t part of my forecast in 2021 and 2022. A positive outcome for me

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