Founder of Bayzat If WEF chief Professor Klaus Schwab is to believe, dramatic change is happening at exponential speed. "We are at the beginning of a revolution that is fundamentally changing the way we live, work and relate to one another," he writes in his new book, The Fourth Industrial Revolution. Businesses around the world are indeed undergoing a transformation as they increasingly relate to a global ecosystem based on a web of core tech trends including AI/machine learning, edge computing & analytics, hyperscalers, workplace automation, and workforce technology. These are the trends which would continue dominating headlines in 2023. Digital Transformation The big thing that is happening globally is digital transformation. In a business space, digital shift refers to the integration of advanced tech solutions into every area of a business in order to transform existing processes. According to International Data Corporation (IDC), this transformation was stated to grow at the compound annual growth rate of 16.7% and reach $1.97 trillion by the year 2022. No less than 50% of the global GDP was estimated to be digitized by 2021. Interestingly, as Bayzat expands its footprint in the Middle East region, we find these changes of global significance making a deep impact in Saudi Arabia. Several digital platforms, guided by the Human Capability Development Program under Vision 2030, have been launched in the Kingdom including increasing research, development, and innovation ecosystem output significantly in terms of the number of research publications and global partnerships. Key Digital Capabilities So, how do we chip in to help improve the work life of an employee, grow a company's prospects, and keep up with the rapid digital transformation in Saudi Arabia and elsewhere in the region? We, at Bayzat, consider the following three digital capabilities that will define the workplace in 2023. 1. HR Self-Service With rapidly shifting priorities in work culture, the long-drawn jaded traditions that involved manual processes of HR are fast giving way to this new tech-driven platform, saving time and money. HR self-service, or employee self-service, is a feature allowing employees to access their own documents and details via the Bayzat App, easing an employee's life. We believe that if you take care of your employees, they'll take care of your business. The Bayzat all-in-one HR & B employee benefits platform will automate and simplify your HR tasks and eliminate tedious admin work, making world-class benefits accessible to your employees. 2. Digital Performance Management A performance-monitoring module developed by Bayzat, which helps businesses improve their digital performance by measuring, testing, and analyzing the holy trinity of digital performance: Customer experience, IT performance, and Business outcome. The software has the following three features: - Set easy & trackable goals, which means no more handwritten notes or lost spreadsheets! Line managers can set easily trackable goals and track the progress of their employees to help with continuous professional improvement, - Get rid of the guesswork, which allows you to easily score the goals of each employee and track progress across the company. - Level up performance feedback, which enables line managers to set up frequent conversations with their team members, allowing for greater collaboration and focus on personal and career development. 3. HR Super Apps As we move into a diverse work culture, driven by technology, and with many organizations transitioning to a hybrid working environment, it's excellent to consider incorporating a super app to help optimize and streamline the HR department's capabilities. A super app can benefit employers, managers, human resources, and employees. Bayzat's Super App can bring about significant advantages to an organization. It boosts employee engagement, saves cost and time on administration, allows for immediate access to information, improves collaboration and facilitates decision-making processes, and elimination of HR manual processes. Conclusion. Newer technology keeps us on our toes and puts leadership to the test. Staying on top of trends, therefore, in any sector or industry, keeps us ahead while making strategies and charting new paths. Bayzat believes in connecting world class employee experiences with the best technology and advantages, which would ultimately benefit both the business and employees.
