Over the past decade, there has been a significant shift in the Human Resource industry. These changes have been shaped through many contributors, however tech has seen a shift from a paper-based system to imbibing technology in the recruitment process.
Talent pioneers in the Talent Management industry have recognised the importance of using new technologies to their advantage. This includes analytics, cognitive, VR and AR to reinvent organisation and hiring techniques as well as AI. With AI, the Talent Management industry can reinvent and transform their processes to progress in this fast-paced sector.
AI and its Effect in the HR Landscape
Talent Acquisition has seen the greatest improvement using AI. It is in this area that the HR sector sees the greatest impact in measurable results in the reduction of time to hire individuals, increase productivity rates and, most importantly, delivering the best candidate experience to their clients.
The success of this originates from a virtual recruitment bot that is powered by AI. This can be used to conduct candidate screenings that are applying for a specific job role that may receive a high-volume of applicants to the role. This bot can easily shortlist candidates of interest by screening CV’s based on the required skills for the job role and respond to those accordingly. It can also be used to answer basic enquiries which allows recruiters to spend more time on other tasks instead of answering to FAQs.
Support in Compensation Decisions
AI in Talent Management and HR tech help HR professionals and employers to make well-informed professionals to make the best decisions which are based on the insights provided. This can be beneficial in compensation. Up until recently, most organisations would go through external and internal data points which makes sense out of the obtained data and then marking the right amount. Through AI, data can be accessed easily, contextualised and interpreted then sent to the HR professionals. However, the decisions must explain itself so that the employer involved can make the final call on whether to follow the advice provided.
A Personalised Experience
Onboarding processes can be significantly improved using AI. New employees who do not know which people to connect with can the information needed with AI-powered programmes. The program can also provide documents for newly-hired employees which contains useful information such as organisation guidelines and training modules.
Analytics of People
Large corporate bodies have a significant amount of data of a sensitive nature that is gathered by their employees. AI plays a large role in HR with the support of people analytics to analyse, track and manage people. An improved digital IQ can shed light and provide deeper insights of the employees’ statements, intentions and mood. Human behaviour can be simulated through machine learning models. This makes it possible to validate employee experience regularly. This adds a new dimension to workforce strategizing to reduce pressure on employees. It is essential to maintain a balance of human and machine in the workplace based on talents and skills and AI is an integral part of maintaining this.
Automation of Tasks
The implementation of AI offers a significant opportunity to automate repetitive tasks that are of lower value to companies which allows for HR team members to focus their energies on recruiting, interviewing and onboarding.
AI can assist in establishing digitised personal records and this allows employees to track and update throughout the duration of their employment. As HR has the important role of overseeing these records, it is important that they determine which information can be shared or not.
Platforms that are AI-driven allow employees to have access to their basic records and perform simple HR tasks themselves. These programmes assist in pushing specific data when it is required by a targeted set of employees.
Adding to the quality and expanding the workforce, HR has taken on the new responsibility. However, this requires specific skills. AI-based programmes, through data, the amount of wastage that is being exerted as well maintaining a streamlined approach. This allows for making informed decisions within the company sphere.
Establishing Effective Compliance
HR face one of their biggest challenges which is remaining compliant in their daily tasks. Regulations and policies are ever-changing and this requires a significant amount of data and paperwork.
Cloud-based solutions and AI help streamline the process by providing storage capacity that is efficient and is easy to navigate sensitive and sometimes political-sensitive information that may be subject to compliance issues.
Embedding AI in your talent management agency may seem daunting. Start off slowly by adopting the Natural Language capabilities as it allows for employee interaction and get an insight into your company’s dynamic and workforce. It is a significant program where you can make decisions based on raw information and complex data. Also, you can focus on opportunities that will benefit your business by focusing on the important things and navigate your experiences, data, expertise and intelligent processes more efficiently.
The Current State of AI in HR
Stats have shown, according to Deloitte, 40% of companies that were analysed have used some form of AI in their HR departments alone. According to Personnel Today, 38% are already making use of AI and 62% are predicted to begin this year alone.
AI is present in all major industries globally from legal to advertising and transportation. Having already witnessed the use of AI-powered chatbots, virtual assistants and programmed systems in the workplace, the implementation of AI in HR and Talent Management offers a flexible and more user-driven employee experience.