Human resource management has experienced significant changes in the last few years due to the evolution of technologies. Today, Artificial Intelligence (AI) and Machine Learning (ML) are reshaping the way organizations recruit, manage, and engage with their employees.
The latest data-driven technology is rapidly making its way into the workforce management as companies are focusing more on creating an employee-oriented work culture.
Recruitment is no more a tiresome process for HR teams as it no longer entails lengthy activities such as manually screening the resumes of the applicants, making phone calls or replying to candidates via emails.
These routine tasks are now managed by smart technologies designed to replace human conversation, thus enabling HR teams to think about the bigger picture.
Employee engagement is essential for every business because it plays a major role in improving productivity and helping companies stay competitive in the market. Gone are the days when HR teams relied on troublesome annual surveys to evaluate employee engagement that often generated invalid results.
To redefine performance management, HR teams can count on real-time data to measure employee engagement and find trouble areas to enhance work culture by predicting workforce trends. Additionally, real-time data enables HR professionals to take quick action in a personalized manner.
AI and ML, the new trends in technology, have a significance in HR management practices. AI breaks down and modifies data into a format that is easy to read, and ML scans data to spot patterns and modifies plan actions correspondingly.
The insights provided by AI and ML generate suitable data to help HR recruiters retain and motivate existing employees and also to hire new job aspirants. Additionally, AI and ML-powered suggestions utilize historical data for recommending the best solutions to resolve expected problems, thus helping HR professionals develop HRM programs based on smart data.
A few advantages of using AI and ML in HR management:
Reduces Biased Appraisals
The crucial challenge that HR managers face during performance appraisals is to stay unbiased. AI/ ML algorithms go beyond spreadsheet analysis by executing employee assessments via regular, fair performance appraisals. In the same way, you can use these technologies to estimate the career path of your employees to prepare them for career advancement.
Estimating Employee Morale
The HR industry is increasingly leveraging AI and ML as they are clever at identifying performance patterns over time. These innovations come with face-recognition technologies that are capable of recognizing gender and measuring employees’ emotional traits on a scale from very sad to excited. With the data gathered by these technologies, companies can develop a closer bond with their employees by using the derived insights to empower employees so that they can identify their true potential.
Streamlines Hiring Process
AI and ML have enhanced every stage of the hiring process by equipping HR teams with personalized research tools to find the best talent in the industry. An applicant tracking software (ATS) can relieve the trouble of an HR recruiter who has to go through numerous resumes, thereby reducing blunders and ambiguities during recruitment.
The software can analyze countless resumes based on keywords, location, skills, and experience. Just tell the system about a position you need to fill, and it will instantly recommend the right candidate. Natural language processing, an inbuilt tool available in the application, drives predictive language analysis to speed up recruitment by enabling HR teams to shortlist candidates faster and with fewer slip-ups.
Simplifies Payroll Processing
HR bots can also take care of payroll processing and employee expenses management. You may not need to spend time filling out forms for documenting business T&E expenses. Just notify the bot, and it will get your bills approved by your manager.
Better Prediction Models
AI and ML have the potential to know your business better – whether it is predicting your future ROI, employee engagement level, problems related to the completion of projects, and other issues that would generally take years to come into sight.
AI and ML are two crucial technology trends that need to be implemented for enhancing data-driven decision making and effective HR management. To overcome the hurdles, HR teams should work in combination with advanced technologies to understand the power of robotics in employee management.