The content below is an authored article by Ms. Yogita Tulsiani, MD & Co-founder, Ixceed Solutions (Global Tech-Recruiter Provider).
The recruitment industry has undergone a sea-change in the last decade or so as businesses are focussing on adapting to an employee-oriented corporate culture. Technological advances have had a significant role in creating substantial changes in the functioning of Human Resources. AI and Machine Learning have reshaped the manner in which recruiters hire, engage with, and manage the workforce.
The report of Deloitte’s 5th Annual Global Human Capital Trends shows more than 53% of corporates have begun the process to revamp HR modules to encompass digital tools to enhance functionality. About 22% of companies have already completed the process to leverage Artificial Intelligence to deliver Human Resource Solutions. The future of effective HR policy is AI.
Processes that enable AI and ML to boost productivity
Employee engagement is crucial to boost productivity. It is the best tool to ensure that businesses remain competitive in the market. A progressive HR manager can track the growth of an employee and redefine performance management with the help of technology. Appraisals are now seamless and continuous in progression. The use of AI has reduced errors and human emotion in the process.
Work culture can be defined, and workforce trends can be accurately predicted. HR teams can now take adequate action in a customized environment. The detailed data input has also allowed HR managers to segregate the personal traits of the employees to be taken in to account to enhance productivity.
- Automated candidate sourcing: The key to improve productivity and create a long term relationship with employees requires HR Managers to hire “fit for job” candidates within a minimum “time to fill” window. The AI-powered software can sort through hundreds of job sites by assessing the candidate’s social media presence on multiple platforms and predict how likely are they to accept the role if offered to them.
The use of AI and Machine Learning has revolutionized the way the industry works today. AI breaks down data and transforms it into fathomable formats, while ML scans the data to create patterns to modify program actions in tandem. This data, in turn, helps HR teams to recruit the best fit candidate for the job.
- NLP: An AI-powered Chatbot is a useful tool in managing innumerable queries and setting up the initial interview calls without the involvement of HR personnel. HR solution providers are using Chatbots to use accumulated data to streamline and enhance efficiency. The AI natural language processing capability assists candidates in answering their frequently asked questions and is available 24/7, providing personalized user experience. It reinforces employee relations and supports employee engagement.
- Cross-Channel integration becomes seamless and robust. Processes like leave applications, target setting, and such can become automated and reduce time-consuming manual activity. For example, if the employee needs an unscheduled leave, she can leave a text on the system, and the chatbots would ensure that the manager allows or rejects the same on the system itself.( have you verified this ? if yes , then its ok)
- Candidate Rediscovery: AI-powered software automatically finds previous applicants in your ATS that are suitable matches for your vacant positions and grades them according to their suitability to the role. This not only reduces the talent acquisition cost but also keeps the candidate engagement going. AI proliferates the concept of diversity hiring as the machine learning algorithms which run against the data marts are devoid of any human emotions. They find the best fit for the role irrespective of the caste, creed, color, or educational background. The same technology can help the HR team to create firmly knit workgroups that are identified on the base of the psycho-emotional traits of the employees.
- AI enables data-driven decision making – Many AI-powered applications use video interviews to create data points on the choice of words, and intonation, facial expressions, and body language to assess the candidate. AI s provides the best platform for HR personnel to make a data-driven decision, mitigating the wrong hire cost to a large extent. AI and ML are tech trends that can drive inch-perfect effective management policies and decision making. Productivity becomes sky-high.
- The remote employee data model has a lot to thank a whole array of AI-powered tools. Recruiters can leverage them to hire remote workers in any geographical location based on the machine learning algorithm pre-employment assessment tool. The company can cut across physical boundaries to find the right fit and skill sets needed for the job.
- AI technology allows the recruitment teams to proactively assess and evaluate the talent pipeline, especially the passive ones. It has taken the internal referral program to another level as it taps the existing talent pool and refers to high-quality people in the current workforce. New job roles are created, and optimal utilization of talent is achieved. Teams with cross-functional expertise in IT and HR share a vision for workforce experience. Concrete technology goals can help turn this vision into reality.
Human Resource functions are increasingly liable to help augment business and propel growth. The future of robust and sustainable growth is the judicious use of AI and ML. The HR industry has risen to the enormity of the task and has started using the technology available to enhance engagement, productivity and create result-oriented policies. The AI and ML powered future will lead to stronger HR capacities and intelligent solutions to recruitment and retention.