Human resources, as a function has undergone significant transformation over the last few years.
This can be attributed to the evolution of technologies such as artificial intelligence, machine learning and the use of analytics. Thanks to its potential benefits, artificial intelligence is gradually finding its way in every major industry, ranging from transportation to healthcare, education, advertising, finance, legal, accounting and most critically across industries for the Human resources function.
AI has reshaped the manner in which organizations handle human resource plans and their workforce, a scenario that has enhanced employee engagement and productivity incredibly.
A study conducted by California State University revealed that employee engagement programs could potentially boost company revenue by up to 25%. This research clearly shows that organizations must accept artificial solutions to enhance employee performance.
Here we will take a look at how artificial intelligence can potentially impact the human resources function.
AI allows organizations to analyze employee performance better.
A significant number of companies have always struggled to find professionals who have the right qualities that can help foster both productivity and engagement. However, with the introduction of online skill assessment tools, it is now much easier for hiring managers to monitor employee behavior by analyzing key performance indicators. To be more precise, HR managers can now use specific AI tools to create and set concrete objectives for workers and allow them to work in small units to achieve the set goals. Apparently, this type of work is reasonably easier to monitor and asses. Equally, it can result in better overall performance. Experts agree that this particular approach not only boosts company production, but also helps to identify employees who show lack of commitment continuously.
It makes the process of onboarding easier and effective.
A growing number of hiring tech companies now use a number of options to acquire relevant information about the potential candidates by using social media posts, work samples, surveys and even facial expressions. By integrating all these with artificial intelligence, they can successfully assess essential work skills and personality traits such as grit, endurance, resiliency, empathy and perhaps prejudice. This allows HR managers to have a better insight and understanding of who the prospective employee is and whether or not he/she fits the bill.
Hiring the best talents is not the primary challenge that HR departments usually face. Adaptation is another aspect that is critical as well. Research has proven that nearly 31% of prospects fail to adapt to their new work environments, a problem which is entirely attributed to lack of effective onboarding procedures. On most occasions, recruits need ample time and lots of attention, and it is often not easy for HR department to solve the concerns of every new member. But, with the introduction of AI-driven online assessments, hiring managers can now find the right person by using customized hiring procedures. In fact, it has been proven that new workers who undergo well-executed on-boarding processes had fairly much higher retention rates as compared to those who never passed through the same.
AI makes employee training extremely efficient.
According to a report in Training published on HR Exchange Network, 59% of all skills training was conducted through online assessment technology in 2016. Artificial intelligence allows hiring managers to adopt effective strategies such as adaptive assessment which can potentially track and measure learners’ engagement and competency.
As many technological changes continue to flood the market on a regular basis, it is imperative for your employees to keep pace with the emerging trends by learning more regularly. This is important since it allows them to improve their professional expertise as well. Typically, AI enables HR departments to successfully plan, execute and provide necessary training programs according to the needs and qualities of their staff members. Of course, this can be achieved through online classes and perhaps digital classrooms. It is critical to mention that AI equally offers HR department an opportunity to develop the best timeframe to offer the courses, by taking into account the flexibility of every individual employee.
AI could help organizations to reduce their operational costs significantly.
The possibilities for using artificial intelligence in business are potentially endless. Of course, the choice solely depends on the type of the firm and perhaps its specific objectives. There are many ways in which the use of AI can enhance business performance by reducing the resulting operational costs as well. We all know that machines boast of superior computational abilities far much better than human beings. Automated tools can sort through massive amounts of data and manipulate such data to make better-informed decisions.
Many companies are using AI solutions to enhance cybersecurity, increase efficiency and accuracy, automate and boost complex analytical tasks, decrease downtime, identify inefficiencies, improve operational performance, examine data in real-time and to perform industry-based work without or with minimal supervision.
As opposed to highly paid professionals, AI-based systems are often reasonably easier to evaluate and monitor. In fact, from day one, automated machines will work for you without any cases of absenteeism and will ultimately eliminate all the errors provoked by humans. Personalized recommender machines drive clients toward getting precisely what they are looking for, and this not only results in customer loyalty, but improved revenue generation as well. Equally, market prediction and perhaps automation of analysis give HR strategists to make ideal modeling decisions based on facts. Simply put, all these automated operations are intended to simplify and boost human life, open the door for further improvement and reduce costs. It could help HR managers to retain the best workforce.
Arguably, employees are one of the most valuable assets of an organization. Perhaps this is why the primary focus of HR revolves around developing the right strategies for improving the employee experience. Companies are always on the hunt for the best and highly qualified personnel. A recent study revealed that close to sixty percent of organizations view employee retention as one of their main challenges. But, thanks to the evolution of AI solutions, HR departments can successfully analyze, measure and predict the needs of employees.
Workers are known to switch jobs regularly, especially if they are not content with the current role. Factors such as non-competitive compensation, erratic feedback and lack of training opportunities are just some of the reasons why people usually change jobs. AI solutions have allowed HR professionals to detect workers who might be dissatisfied because of one reason or another and make adjustments if necessary.
The Bottom Line.
These are just some of the reasons why organizations should try as much as possible to incorporate AI-based solutions into their daily management practices. With time, we can only anticipate that more companies will continue to embrace this incredible technology.
Any such instances of Artificial Intelligence impacting the HR function that you can think of? Please share with us in the comments.
