How AI Is Getting Groundbreaking Changes In Talent Management And HR Tech

In the past ten years, the world of recruitment and Human Resource has changed a lot. Shaped by several different and mostly technological factors, the HR department has drastically transformed from sorting resume papers manually to imbibing technology in the recruitment process. 

Currently, all the Talent pioneers are recognizing the urgency to start embracing emerging technologies, such as Artificial Intelligence, analytics, cognitive, AR and VR to reinvent how people work in the organization and how new talents are being hired. HR professionals also believe, to bridge the gap, organizations must focus on their employee strategies to yield productivity, experience, collaboration, streamlining processes, simplify work, and setting up new goals. With technologies like AI, organizations can invent, reinvent, and transform the processes. 

AI changing the HR landscape 

The impact of AI and automation might not be seen instantly, but one can still discover short to long term benefits. When considering short-term automation can greatly benefit an organization, in terms of cost, improved experiences, quality, and accuracy. In the medium term, augmentation can help in self-learning activities, prediction analytics, and interaction. For the long-term, amplification can help in decision making, autonomous tasks, and boost workforce productivity. 

AI is not the future of talent and HR tech, it is transforming the present 

1. Enhance Candidate Experience

The very first use-case of AI in the recruitment process is talent acquisition. This is the area where organizations see significant, immediate, and measurable results in reducing the time to hire, increase the overall productivity, and delivering excellent candidate experience. For this, a virtual recruitment bot powered by AI can be used to conduct candidate screening who are applying for a specific job and receives high-volume application.  The bot can easily shortlist the candidates by screening the bunch of resumes according to required skill sets and respond to the candidates who are capable. Next, it can also answer any basic query, allowing the recruiters to spend more time sharing the cultural values of the organization rather than reverting to FAQs.

2. Compensation Decision Support 

Artificial Intelligence in HR tech and Talent Management helps employers and HR professionals to make informed decisions provided by the insights. This can be great in the area of compensation. Till now, in most of the organizations, compensation is done after analyzing internal and external data points, making sense of the derived data and then marking the right amount. Through AI, data can be easily accessed, interpreted, and contextualized; then informed the HR professionals. But the decision must explain itself so that the employer can make a final call-out whether to opt or not, the advice.

3. Personalized Experience 

AI can be effectively added to an employee’s onboarding process. New employees who do not know whom to connect with, can get institutional information about all the employees by conversing with AI-powered program. The program can also provide new-hire documents, containing all the useful information like training module and organization guidelines. 

4. People Analytics

Organizations have a lot of data to be gathered from their employees. AI can play a big part in HR with the support of people analytics to track, analyze, and manage people. A stronger digital IQ can bring deeper insights by analyzing their statements, mood, and intentions. Human behavior can be simulated by machine learning models and make it possible to validate the employee experience on a regular basis. This will a new dimension to strategize workforce to reduce employee attrition. AI is a helpful way to find the right mix of human and machine in the workplace, based on skills and talents, to maintain a balance in the organization. 

5. Automate Repetitive Tasks

AI offers a significant opportunity to automate all the repetitive and low-value tasks making HR team members focus more on strategic work and spend more time processing the steps of on-boarding, interviewing, and recruiting. 

Source: KPMG International 

6. Administration 

Artificial Intelligence helps in establishing digital personal records, allowing employees to update and track employment milestones throughout their tenure. HR has an important role in overseeing such records and help determine what information to be shared and what not.AI-driven platforms allow employees to access the basic records and perform simple HR transactions themselves. These programs can help the system to push specific data when required by the targeted employees. 

7. Planning the Workforce

Shaping the workforce is the new responsibility of an HR, but this requires certain skill-sets, such as being evidence-based, insightful, conducting analysis, and seeing the organization as a complex system and then structuring that system. AI-programs can predict through the data and then help HR professionals to know where the organization lags, where there is a lot of wastage, and what all processes are running in a streamlined manner. This will help in making informed decisions about the company. 

8. Effective Compliance

One of the biggest challenges for the HR team is staying complaint. Policies and regulations are ever-evolving and require a lot of paperwork and data.AI and cloud-based solutions together can streamline the process by providing efficient storage capacity and easily navigate complex and sometimes politically charged compliance issues. AI-solutions can help understand and define what is feasible. It can apply a statically effective algorithm to define what is right and what is wrong. It is also pin-point the problem to solve and what can be the use-cases. 

Adopting Artificial Intelligence

Embedding AI in your talent management system can seem to be scary. But always start with what best suits you to solve your problem. Also, the Natural Language capabilities can seem to be the best option to initial start with, for employee interaction and get an insight into your company’s workforce.  AI is a significant program where a decision can be made based on information, highly complex data, and frequently required by the employees. Secondly, focus on opportunities that will benefit from your organization’s data, experience, expertise, and intelligent processes. 

Current State of Artificial Intelligence in HR 

According to Deloitte, 40% of the companies are using some form of AI in HR alone. And Personnel Today states, 38% of the enterprises are already making use of AI and 62% are expected to start this year. 

Artificial Intelligence is already present in every major industry from advertising to finance, legal, transportation, and now even in our workplace.  We have already witnessed the usage of AI-powered virtual assistants, chatbots, and programmed systems in our workplace that has helped develop a seamless, flexible, and more user-driven employee experience.