Data and AI will drive a customized HR value proposition
Future leaders are heavily reliant on analytics. To maximize the value of this flood of data, companies must use data analytics and artificial intelligence (AI). Employers are always looking to make more data-driven decisions, but industry leaders have only scratched the surface. Data and AI can do a lot for employees in terms of career and life goals.
Employers will find ways to channel personalization in an effort to attract and retain talent. By analyzing the right data sets, employers can offer employees benefits that are tailored to their specific needs, increasing employee engagement and satisfaction.
Companies can now design effective learning and development activities that cater to the needs of individual employees. The cloud-based learning management systems help employees collaborate, create communities of interest, and engage in mobile education whenever and wherever they want. Employers will find value in moving away from a ‘one size fits all' approach.
Sustained effort to drive diversity and inclusive culture
In the gig economy, employers will look for top talent from diverse backgrounds. However, unconscious bias remains a major impediment to workplace diversity. So, the goal is to become aware of this bias. Recruiters can use AI to overcome unconscious bias. Some companies have AI algorithms that communicate with candidates and review resumes. It will eliminate demographic bias and select candidates best suited for the job and organization.
The C-suite must change its attitudes and practices if diversity and inclusion are to be sustained. HR managers alone cannot drive and sustain these efforts. Employees follow a company's leadership's example when it comes to inclusion.
People analytics will become imperative
HR will need to use people analytics more this year. People analytics has evolved from traditional HR analytics to meaningfully improve employee lives, productivity, and motivation. HR metrics are being reinvented, and organizations are rethinking how they manage their people. People, operations, and workforce planning are all improved with data. Employers can use people analytics to understand employee engagement, development, and performance. The employer can also use the employee data as a continuous feedback mechanism. The employer can then address any issues in the ecosystem before they impede employee productivity and motivation. HR departments can use emerging analytics solutions to indirectly address business problems through better employee management.
Employment of recruitment marketing strategies to attract talent
Employer branding will increasingly be used to communicate a company's key value propositions. A candidate has many options in a highly competitive future job market. This includes promoting the company's culture and values. Companies will adopt new approaches to meet rising talent demand. Engage through employee referrals, social media and hackathons.
In a competitive job market, finding and hiring the right person who fits company's culture and values is critical. Think of Amazon, Apple, Google, and Microsoft. In spite of their common industry and hiring practices, their EVPs and intrinsic cultures are vastly different. To ensure that the employer brand and employee value proposition (EVP) both highlight the organization's values, it is critical that both are equally highlighted.
Expected benefits of AI applications in HR
become increasingly common in some data-rich contexts and has brought us closer to true AI, which represents the ability of machines to mimic adaptive human decision-making. Nevertheless, with respect to the management of employees, where the promise of more sophisticated decisions has been articulated loudly and often, few organizations have even entered the big data stage. Only 22% of firms say they have adopted analytics in human resources (LinkedIn 2018)
Conclusion
Human resource professionals help organizations develop best practices for the future. Internal communication is also becoming more important, especially bottom-up and two-way communication. This gives employees a voice. Giving employees the tools and support they need to interact is important, especially for transparency. The future of work is being written and designed right now, and HR leaders are integral to the process.
References
-(PDF) Artificial Intelligence in Human Resources Management: Challenges and a Path Forward (researchgate.net)
Available at : (online) Accessed on 23rd July 2021
https://www.researchgate.net/publication/328798021_Artificial_Intelligence_in_Human_Resources_Management_Challenges_and_a_Path_Forward
-AI will make HR more Human, Strategic and Innovated | HR Exchange Network
Available at : (online) Accessed on 23rd July 2021
https://www.hrexchangenetwork.com/hr-tech/articles/ai-will-make-hr-more-human-strategic-and-innovated
-AI and Automation in HR: Impact, Adoption and Future Workforce (aihr.com)
Available at : (online) Accessed on 23rd July 2021
https://www.aihr.com/blog/ai-in-hr-impact-adoption-automation/
-Article: The future of HR in 2020 — People Matters
Available at : (online) Accessed on 23rd July 2021
https://www.peoplematters.in/article/strategic-hr/the-future-of-hr-in-2020-24364
I was very excited to read this article Kanchana. AI's future enhancements will definitely make the the HR to another level. If I guess, HR will more humanitarian in future. AI-based software can automate repetitive, administrative tasks. It can play a role in HR strategy, employee management, analysis of company policies and practices, manage payrolls, and more. Additionally, it can also allocate office space and equipment allowing HR staff to direct their time to more valuable tasks. And I have noted your concern about the high competition for jobs in future. Actually there are some threats for Human demand in future. However, strategical leaders will have the mechanism and systematic approaches to mitigate all these risks. Extremely important article.
ReplyDeleteThank you, Oshadha , for reading and sharing your comment!
DeleteAn Interesting and timely topic Kanchana. Well explained all the concerns. AI is still a long a way away in any domain of human activity, the speed of progress toward specialised AI systems in health care, automobile industry, social media, advertising, and marketing has been considerable. In the case of HR the drive for efficiency and concerns about fairness do not always align. However in the future we can expect more developments in HR relating to AI. Thankyou for sharing.
ReplyDeleteYes Rukmali. We can see that some companies are already using AI in their recruitment efforts. However, it takes a few years to properly adapt to HR. Thank you for your valuable comment
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ReplyDeleteCorrect decision making is the main task of HR. Using of AI and technology will allowe to get more accurate information and will help to reduce the time on process.
ReplyDeleteBut still I feel human touch is also nessecery in HR. Through automation it will create a gap on this.
Agreed with you. We are unable to replace AI with a grievance handling part. bit of a human touch should also be included HR functions. Thank you for your valuable comment
DeleteYou have deeply discussed the topic, further suggest, Employee Value Proposition (EVP) refers to a combination of benefits and rewards that an organization offers to its employees in return for their work and skills. However, a strong EVP also includes intangible components such as culture, opportunities for personal and professional development. Thank you.
ReplyDeleteInteresting post Kanchana, Great effort!!
ReplyDeleteIf I could add more, one of the primary advantages of incorporating artificial intelligence into various human resource methods is the same as it is in other disciplines and industries: By computerizing low-value, easily repeatable administrative tasks, HR professionals gain more time to contribute to organizational strategic planning. As a result, the HR department is able to become a strategic business partner within their organizations.
Very important topic . AI and date has made most of HRM processes easy . Further new technologies can be used for better analyze, predict and diagnose to help HR teams make better decisions. invest in these stuffs will definetly add great value to better HRM process and to recrute and manage best work force ,
ReplyDeleteAnother timely subject. Kanchana, well-written with appropriate findings. Artificial Intelligence has presented HR with both opportunities and challenges. Based on a framework analysis of how AI impacts HR, you may identify the most valuable win-win value proposition in which the machine and the HR department interact and work together to create and deliver a new HR practice to the market. Here is an example of a transformation from a traditional HR practice to a new one; Fortune 500 companies have created advanced HR practices that use talent, culture, and leadership capabilities to maximize strategy and operational models. Technology disruption, on the other hand, is forcing HR to develop a new value proposition, one that includes AI, in order to better serve employees and customers while still delivering value to shareholders.
ReplyDeletegood job, all the best for your next bog articles.
While companies are incorporating AI into their HR procedures at various rates, it is apparent that as the technology becomes more broadly embraced, it will have a long-term impact on the industry. As a result, it's critical that HR professionals are ready for these changes by learning about technology and how it's used in different activities.
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