Artificial Intelligence Aiding HR Functions in a Major Way

access_time January 24, 2019
by   TechmavenitAdmin
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Artificial Intelligence (AI) is increasingly making its presence felt in every major human activity and no segment is immune from its all – pervasive influence. Segments that play vital roles in our economic activity such as banking and finance, marketing, retail hospitality etc have all embraced AI in their everyday operations. Additionally, one area of corporate activity where AI implementation has seen a sudden spurt is in the human resources (HR) department. AI implementation has helped companies raise productivity levels and increased employee engagement . A recent survey of HR executives by IBM found that 46% believe AI will transform their talent acquisition capability and 49% believe it will transform their payroll and benefits administration. Artificial intelligence can help you handle recruiting, productivity, and retention faster and more efficiently than traditional HR methods. Let us go through some of the ways in which AI implementation in the HR processes would help automate and streamline workflow to achieve better employee engagement and boost company revenues. Better talent acquisition process One of the major challenges confronting HR managers is the need to select the best candidate from a large number of applicants. With AI in place, it allows for several steps in the hiring and selection process to be automated. Talent acquisition software can scan, read, and evaluate applicants faster and eliminate unsuitable candidates in the very first process itself. Additionally, companies also save a lot of money, as they do not have to pay the cost of poor hiring decisions. Training Every organization provides employees with proper training as a way to make them learn new skills and improve their professional skills. The implementation of artificial intelligence in the training process will help plan, organize, and coordinate training programs for all staff members in a more refined way. Performance analysis Periodic performance analysis of employees are conducted by most companies as a way to measure their productivity. This productivity analysis is the primary consideration when revising salary and other benefits. Using AI tools, HR mangers are better able to assess the productivity level of employees using several metrics and then rewarding them for their efforts. Retention A recent survey has revealed that 60% of organizations consider employee retention as one of their biggest problems. This is because, candidate selection and training is difficult, costly and involve a lengthy process. Any candidate then leaving the organization suddenly causes temporary problems for the company and work flow could be affected with projects getting delayed. Immediate coordination with a new recruit becomes rather difficult initially. Artificial intelligence has the ability to analyze and predict the needs of staff members and decide how each employee should be tackled to make him happy and satisfied and prevent his moving out. Better employee relationships Using artificial intelligence in HR operations helps companies build better relationships with their existing employees. HR department may be tasked with answering several questions from employees on a daily basis. AI will handle it and then provide immediate answers to their queries and employees will be all the more happy. Reducing human bias Human bias can influence many aspects of recruitment, as humans tend to be stereotyped and biased. They make judgments based more on gender, class, religion, caste etc. However, artificial intelligence algorithms will ignore such demographic related classifications and will only test the job – suitability of candidates. Somen Mondol, CEO of Ideal – software that uses AI to automate recruiting tasks – believes that the biggest impact will be in automating candidate screening and reducing the bias in the selection process.

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