How AI can Play a Pivotal Role in HR Tech By Hridkamal Roy

How AI can Play a Pivotal Role in HR Tech

Hridkamal Roy | Wednesday, 05 May 2021, 01:58 IST

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The constantly changing technological atmosphere is bringing about change in each and every sector of the business ecosystem today. Artificial Intelligence (AI) has proved itself to be the most advanced technology till date and has impacted everything in a business process and HR is no exception. The integration of AI into the existing HR infrastructures of organizations has been utterly helpful and most likely to have a better future. It enables the various HR teams of businesses to analyze and execute in a simpler way that wasn’t possible a decade ago. According to a report by IMARC Group, the global HR Tech market is expected to undergo a double-digit growth till 2025.  

With the advent of automation, various HR Tech platforms have come into play, providing services in a very calculated manner. Babu Thiagarajan, Technology Head, Fidelity International says, “The business drivers are changing now. Employees, or better still, ‘people’ are being accepted as a key differentiator for organisations. If you want to deliver a better customer experience, you need to provide a better experience to your own people. In addition, the omnipresence of digital experiences in our daily lives and high engagement expectations from our workforce (increasingly comprising of millennials) are further driving organisations to increase the allocation to HR Tech in their budgets.”

The integration of AI into the Human Resource department of businesses is likely to bring about a lot of developments in this sector. Firstly, it will provide an enhanced experience to the existing employees as well as applying for employment in a company. The on-boarding process of new joiners will be further simplified. AI enabled HR-tech systems will also help the HR department analyse the various skillsets of the workforce and accordingly come up with training modules best suited to bring out the best in them.

Driving Better Talent Acquisition

AI enabled HR-tech systems provides crucial help to HR professionals in simplification of tasks. With AI they are able to perform various tasks in record timelines. The AI in the HR-tech system is equipped in handling the screening of resumes, interview scheduling, answering to common questions of candidates on a repetitive manner without any sign of fatigue which is never possible with manual efforts.

The hiring accuracy of the AI based systems can be completely trusted because the analysis of skills and relevant experience is driven by means of accurate data that further add to the transparency in the recruitment process. Because this activity enables the HR department to make the talent acquisition process less time taking, they can concentrate other major focus areas like employee management, marketing of HR and more.  

Chatbot creation has been one of the most innovative steps in HR-tech management systems that are able to carry on several interactions of its own with candidates at the same time. It also helps in filtering the resumes, schedule timely interviews and bring on board the right candidate for the job role.

On boarding Process Made Simpler 

The new generation AI enabled HR systems have made the on boarding process for the new joiners very systematic, accurate and less time taking at the same time. They enable the HR professionals to analyse the recruitments perfectly and create customized on boarding processes for candidates with an agenda based algorithm.

Boost to Training & Development

Individual development of an employee can be monitored through AI enabled Human Resource Management Systems (HRMS). The system provides accurate data to the HR department of the company about the specific areas of development of an employee. It will do the same in case of every other employee of the company thus providing a clear vision as to what needs to be done to bring out the best performance in them. This has been implemental in a lot of organizations where the individual development of each and every employee has multiplied the success of the company.

It is the responsibility of every business to bring out the best from the employees which will not only help the company grow, but also will add to the experience of the employee. The AI based HRMS systems help the department to set training modules customized to every employee and try to enhance their existing skillsets. This in turn provides the employee an added support in skill development and stay on the right career track. 

Administrator Support

The HR department of a company is responsible for handling a range of tasks that impact on the overall outcome of the company. It includes recruitment, employee management, employment policies, payroll management and few more. The AI based HRMS systems in companies are facilitating the concerned HR departments to perform these tasks in a very simplified and organized manner. It is the AI system that is tracking, calculating and analysing all the data and providing it to the HR department for them to take prompt actions. With this, a number of administrative tasks that would in any other case take a lot of human time and labour is done very quickly and in a systematic manner.

Employee Benefit Assessment

A lot of companies in the corporate sector fail to address staff inquiries accurately. This is where the AI based HRMS systems play a vital role. Chatbots are very much implemental in this case as they are able to provide automated response to employee queries. Not only that, the AI systems track down the mostly asked query and inform it to the HR department for better processing of it. Because, it is mostly the lack of communications which results in incomplete information in the employees whereas with an AI based system, nothing is overlooked. In a way, it reduces the confusion in minds of employees and maintains a smooth flow in the business process. 

Smart Analysis through AI

There are various AI enable HR tech products that are now available in the market. All these solutions tend to deliver various kinds of facilitations in a company’s business process. There are products in the market that can help a business understand about who is going to resign soon. The AI algorithm in the system analyses an employee’s individual performance and provides the information if the employee is going to stay or leave the company. This in turn help businesses identify the workforce capabilities and also bring in new talent if required.

AI in HR tech is a growing industry and is poised for tremendous growth in the years to come. Especially, the post Covid scenario has made online workspace systems more prevalent which also indicates remote HR management as well. It can be said that the HR industry needs more innovations in AI like the above and this demand will boost the growth of this sector. 

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