AI is revolutionising recruitment and talent management using algorithms, machine learning and big data analysis
We live in a world where technological changes are constant and are transforming the world at a pace never imagined. What would have been impossible to think of a few decades ago, is now possible and accessible within one’s reach. It has eliminated the need of tedious manpower and enabled individuals to accomplish tasks in a matter of seconds.
The more recent advancements in technology and development of Artificial Intelligence (AI) have revolutionised industries and workspace environment, making people’s lives more efficient with algorithms, software and machine learning applications that can easily scan through tonnes of data in a fraction of a second. That helps in flagging discrepancies, saves time, completes repetitive work and provides digital assistance. AI has the ability to produce more precise, accurate and speedy results and would have a lower error rate.
Realising its potential, more and more organisations are increasingly adapting AI into their human resource processes, at varying rates, making it abundantly clear that it is going to have a deep-rooted impact, which HR professionals will have to adapt.
If leveraged smartly, integration of AI in the human resource realm has the potential to streamline processes and improve efficiency. It can analyse data, learn and improve from past experiences, and recommend actions on the base of the data stored. It can facilitate decision making and expedite many other processes.
Scouting and talent acquisition
One of the key processes in Human Resource Management is talent acquisition, a process which can easily be deemed tedious and daunting, requires utmost precision from HR personnel. It is essential to find the right person for the right role in your organisation. The company’s goals, future, expectancy and performance can be greatly affected by the addition of an employee. The responsibility lies on the HR department to scout the right person for the designated role.
The process, in general, can be cumbersome, as the department is required to fulfill numerous roles. They may have to go through countless applications, on the basis of which candidates will be shortlisted for further processes. Interviews would have to be scheduled with different managerial levels. At the same time, they must maintain active communication channels to answer any queries that the applicant may have, or to initiate any dialogue.
The integration of AI would make the entire process conducive right from the beginning. By analysing the employer’s previous hiring data and current requirements, automated AI processes can easily and quickly suggest candidate profiles for the role, making the selection process much shorter and seamless. It can further effortlessly schedule interviews with potential candidates and maintain systematic communications.
The whole process not only helps the department save time, but also helps them focus their efforts on more interactive and significant parts of the recruitment process.
The HR department has a humongous list of tasks and jobs they have to keep track, ranging from employee performance data, holiday schedule, absence management, timesheet management, salary management, increments, shifts, etc. The process can be time-consuming, requiring referring of several data records and sheets for relevant employee information. Factor in the high chance of human error. With AI assistance, the team can easily handle these tasks through automation, assuring you trustworthy data and satisfied employees.
Employee attribution/talent management
It is necessary for the department to monitor employee performances, retain high quality employees and assert employee satisfaction by creating a motivating environment. With algorithms in place, AI can examine performance score, rewards, pay, data, etc, and predict the likelihood of an employee leaving or being dissatisfied at work.
This gives the department a heads-up and a chance to ameliorate the situation, and opens room for intervention to keep things under control. It can help in retaining employees by taking measured and timely steps, and can help improve employee satisfaction and workspace environment.
AI can be leveraged to enhance experience through various touch points. The application of AI chatbots in recruiting has been transforming the process, resulting in better candidate engagement, communication and dissemination of information, assisting organisations in creating a positive impression.
They can further be used to resolve frequent employee queries and maintaining in-house communication, which is often a difficult task, especially in large organisations that scout thousands of employees.
To conclude, AI processes in HRM would be significantly adopted by more and more organisations in the future. With timely developments, it has the potential to ease the processes and take industry progression to new heights.
The writer is Chairman & MD, Genius Consultants Limited
DISCLAIMER: Views expressed are the author’s own, and Outlook Money does not necessarily subscribe to them. Outlook Money shall not be responsible for any damage caused to any person/organisation directly or indirectly.