It is easy to understand how technology and finance sectors can benefit from having AI at their command. Surely companies such as Google, Amazon, or Facebook would have never excelled the way they did without using AI for their product recommendations, targeting existing and predicting new customers. But how such advanced technology that operates on advanced mathematical models has to do with a department which predominantly has to solve what some may call “people” issues? Interestingly, there are many ways in which AI can revolutionize HR as we know it, and although it might be too early to make any predictions, as the technology is only slowly being adopted by businesses, we had a quick look to see where this all is heading.
More satisfied employees– Employee engagement for years has been a mystery for HR. To paraphrase Sydney Smithwho invented the famous analogy of wooden pegs not fitting for the holes in the table – the officer rarely belongs in the office, and the doer rarely gets the things done by default. It often takes a lot of nurturing to get the person job-ready. Companies for years have been scrambling to retain their talent while learning about their employees’ reaction to incentives, and their motives behind staying engaged. The decisions at which HR arrived have often been dictated by general assumptions and inadequate or outdated data collected from yearly surveys. So it might come as no surprise, that the high employee turnover rate is still a thing. But the process of nurturing engagement among workers is soon to be disrupted, with companies such as Questback, taking “people analytics” to another level with sentiment analysis.Their intelligent Feedback Platform was designed to improve the employer- employee communication to create a workplace where targets are met and morale remain high.
Smarter Application Processes – We all have seen it coming. Recruitment is broken, and need to be resuscitated soon, especially in companies that follow the first rule of globalisation, that says that the talent retention should not be restricted to the local labor pools. But this couldn’t be possible without tools that help HR executives to sieve successfully through piles of CV, and zettabytes of online applications. If you have been sent recently a link to an online interview video platform asking you to record yourself, and felt a little bit perplexed with the whole experience, you might be even more surprised, if we tell you that soon you might be the only human factor in the whole process. From chatbots, or personal assistants as they are sometimes called, that can quickly screen people to interactive games that collect up to 3,000 data points about your behaviour – prospective employees will have to soon learn how to game the process, or perhaps stay unemployed forever.
Smarter Scouting– reaching out prospective applicants, can be as daunting as going through CV folders. In fact, the more actively you will be looking for the next new intake, the more applications you will need to later examine. Thus, for years, recruiters favoured “the less is more” attitude from more granular, more detailed search, that was often good enough with the means they had at hand. But what might have been working years ago, will unlikely yield the same results now, especially in companies that are determined to get only best talent on their board. Sampling is the thing of the past, and HR teams need to accept it, if they want to start thinking of recruitment in terms of business initiative, not just roles fillings. With tools available for more effective sourcing such as employment platforms, it will soon be impossible to find a job without having a profile on one of them. Something to look into if you are up for changing a job anytime soon!