In the vast realm of Human Resources, technology has been a driving force behind reshaping traditional practices. Two of the most prominent trends that stand out in this aspect are none other than Artificial Intelligence and Automation.
According to a recent survey, as much as 88% of companies worldwide use some form of AI in HR, including recruitment. Not just this, by the end of the year 2023, the global market for AI recruitment is going to witness exponential growth, amounting to $590.5 million.
Given these statistics and the rapid integration of AI-powered tools into HR practices, it can be safe to say that Artificial Intelligence and automation are here to stay.
On that note, mentioned below is a detailed article wherein we will explore some of the many trends that are reshaping the future of workforce management.
Recruitment And Talent Acquisition
Talent acquisition and onboarding are two of the most critical processes in HR. Contrary to the traditional recruitment processes that involved manual screening of numerous resumes, AI-driven tools are now transforming this landscape. Thanks to machine learning algorithms, AI-powered platforms can now rapidly and accurately match applicants with open positions. In addition to this, HR professionals can now also be able to predict a person’s likelihood of accepting the job offer and, thereafter, their performance outcomes, all with the help of Artificial Intelligence.
The use of AI is not limited to the recruitment process alone but extends further to the onboarding process. AI tools powered by Natural Language Processing capabilities can collect feedback from new employees. Based on the insights gathered, recruiters can then make all the necessary changes, such as delivering relevant content, identifying training needs, and more. In addition to this, AI can also be used to track employee performance and productivity by analyzing vast amounts of data. This allows for more agile performance management, enabling timely interventions and adjustments to maximise employee potential.
Automation Of Repetitive Tasks
Traditionally, HR professionals spend a significant amount of time manually processing basic tasks such as time tracking, leave management, and more. This can not only be extremely time-consuming but is also susceptible to human-prone errors. With the help of HR technology solutions, most of these tasks can now be automated and streamlined, reducing human intervention and allowing recruiters and HR professionals to focus on other significant areas.
For example, automated systems enable employees to submit leave requests through self-service portals. The system can then automatically route requests to appropriate managers for approval, reducing the administrative burden on HR staff.
In addition to this, AI-driven solutions can also be used to automate performance management. This includes scheduling check-ins, sending reminders for goal setting, and even collecting feedback from peers. All of these ultimately help to ensure that performance management becomes a continuous and less burdensome process.
Virtual Assistants and Chatbots
The integration of virtual assistants and chatbots in HR processes has further exemplified the synergy between AI technology and human resource management. They not only aim to enhance efficiency and responsiveness but also contribute to a more engaging and employee-centric HR experience.
For example, the introduction of the Employee Self-Service (ESS) portal allows individuals to complete tasks without the need for any administrative intervention. This, in turn, reduces the workload on HR professionals, allowing them to focus on more strategic and strategic tasks.
In addition to this, chatbots can also guide candidates throughout the entire application process, assisting them with form submission, document upload, and other similar administrative tasks. This simplifies the whole process and also reduces the likelihood of candidate drop-offs due to complexity.
From recruitment to employee engagement and performance management, HR technologies are reshaping every facet of human resources. As organisations embrace these trends, they not only get to be much more efficient but also gain that much-needed competitive edge in today’s dynamic marketplace. The key is to strike the right balance between innovation and ethical use. If you wish to know more about the same or pursue a bright career in this field, then do not forget to check out this People Management program brought to you by Imarticus Learning in collaboration with IIM-Lucknow. In this 11-month duration HR leadership course, you will get to explore all the intricacies of human resource management. In addition to this, it also brings forth numerous advantages, including masterclasses by CXOs, winsome learning experiences, and more.