The year 2019 is so exciting with a rapid pace of change in technology and transformative development. According to a research, Consumers bought more than 45 million wearable devices and fitness trackers in 2015, and analysts expect demand to grow by more than 45 percent annually through 2019, becoming one of the fastest-growing technology.
What is Internet of Things (IoT)?
Internet of Things (IoT) is the network of physical devices, vehicles and other appliances (home) embedded with electronics, sensors, software and exchange data amongst gadgets. The new Internet of Things is the “Intelligence of Things” which means that artificial intelligence (AI) with a combination of IoT will lead to the connectivity of many smart products and services.
“As per the estimates of Business Insider, there will be more than 45 billion IoT devices by 2020.”
Impact of IoT in today’s world.
The Internet has become an Ecosystem, where the devices are connected virtually, and allowing quick & easy transfer of data. It is beneficial for both businesses as well as people living in society. As a techie, many of us use gadgets like Fit Bands to keep track of the number of steps in a day, hours we sleep, calories burned and distance covered while doing an exercise. These numerical figures & statistics will help us in keeping a track of our activities and can also have a regular check.
The Internet of Things is all about connecting the machines and the systems via sensors so that meaningful information and statistics can be collected & analyzed. This helps in keeping a track of our productivity and enhance it. Similarly, employers are using this smart technology to make their workforce more efficient and get the maximum amount of productivity from the employees.
How important is IoT in the field of HR?
Since IoT is an emerging factor, it is very much important for HR to understand Human Resource Analytics. Interacting with software and devices with a keyboard will soon be history.
Speeches, Voice & Gestures are the next big thing of Communication. It is for sure that IoT will generate an unprecedented amount of data associated with people. In the end, this data will be extensively useful for decision making and resource optimization.
HR will have to leverage technology to manage the firm’s human capital, wherein the technology-enabled HR will take the ‘core competency’ stage in the organization. IoT’s smart functions can be integrated with any of the HRMS which can make the system more powerful and make the task easier for the HR Leaders. In Human Resources, recruitment is one of the most critical domains of the function. With IoT making it possible to gauge employee response during recruitments, it will aid an efficient recruitment process with less subsequent attrition.
The HR function has the opportunity to be distinctive by thinking through how sensors and devices could add value to their services and develop own apps to connect with the IoT. Mobiles and Tablets help us to connect and to access all our favorite things, share our thoughts on social media and much more.
But, ever thought an employee will get the same consumer experience?
Having mobiles in our hands, do we have access to our data and analytics?
How about sharing knowledge with our colleagues and peers through corporate social collaboration?
It’s all possible with IoT!
We can access our data and other applications like:
- Continuous Performance Management: for which you’ll need a digital culture to establish a true beneficial connection between an employee and his/her team.
- It also helps in sharing the thoughts and knowledge through social media collaboration which is a motivating factor for all of the employees.
- With the help of IoT, an employee can select a flexible workplace with an increased chance of sharing ideas.
- Healthy people perform better and are more engaged! Vitality is one of the important factors in HR. Smart Watches; Fit Bands can help in this scenario. Hence many organizations give employees a fitness tracker. Not to track where they are, but to track how they are.
Oracle’s IoT Applications:
- Reliably and securely collect data from devices.
- Perform real-time, big data & predictive analysis on IoT streams and events.
- Oracle has Endpoint Management where you can manage all your device endpoint identity, metadata, and life cycle states.
With the help of Oracle Applications, one can manage workplace incidents to improve wellness and automate time and labor tracking to enhance productivity.
The true challenge for HR is to brainstorm & develop customized apps. With the help of IoT, the sky is the limit! With Internet of Things, we are already in the next generation of technology. It is completely transforming the way we work and live. It is important that HR Leaders visualize the golden possibilities and start taking advantage of its presence by getting connected to the ecosystem.
It’s true that few of us have a chance to become world-class athletes, with the technological boost. But by giving employees the data they need to accomplish personal and career goals; we can all become champs in our offices.
Kovaion’s practice with Oracle’s internet of things applications can help organizations enable them to identify where IoT can create value within in the workplace while removing customer barriers and making the most of IoT for HR Operations.
Haleem Khan M
Business Development Associate