Over the next few years, AI-based technology is expected to impact human resources departments’ operations and capacities substantially. AI based technology will empower human resource management professionals to play more strategic roles in helping their firms scale and achieve corporate goals by lowering turnover, streamlining recruiting, and automating tasks. Scalability is one benefit that HR professionals are looking forward to. According to a recent survey, nearly half of HR professionals believe that the efficiencies enabled by AI will allow them to scale their businesses.
AI Helps Businesses Reduce Turnover
Employee turnover is one of the areas where AI based technology is expected to have the most influence. Employee turnover is expensive for the company and HR departments, which must devote time and money filling open jobs.
This is an urgent matter. Many people who stayed in positions throughout the Covid-19 crisis for the sake of security and stability are now more open to new opportunities. HR should anticipate turnover as personnel perceives more opportunities for growth and mobility in the marketplace. AI can be of assistance.
Companies can reduce turnover by using AI based technology to anticipate employee success and provide career paths for advancement. As a result, HR departments will spend less time recruiting, hiring, and strategically scaling the business.
The Key To Reducing Turnover Is Predicting Success
Employee turnover can be reduced by hiring the appropriate people the first time. This is made possible through artificial intelligence. Before hiring, make sure candidates are a good long-term fit for a role. This increases the likelihood that they will stay with the organization.
Industrial and organizational psychologists Nigel Guenole and Sheri Feinzig write that it can be “used to determine the match between a candidate’s resume and the job requisition, and to make accurate predictions of future performance based on information about the candidate collected during the job application process.”
Employee Loyalty Is Encouraged Through Career Mapping
Another method AI might aid in reducing post-Covid turnover is automated career mapping. This allows human resource management departments to give employees a picture of their future advancement, promoting employee loyalty. This is an opportunity for HR to retain talent at this exciting time of re-opening.
Career mapping is more efficient using AI based technology since the technology analyses more significant amounts of data more quickly to create realistic career trajectories. AI can investigate new jobs for employees by examining talents, experiences, and competencies, which may have escaped HR’s notice when manually mapping. Employees will be more enticed to stay with the organization due to this.
Artificial Intelligence Simplifies The Talent Acquisition Process
HR’s ability to grow an organization is hampered by the time and resources on talent acquisition. AI based technology automates certain aspects of talent acquisition, allowing HR to play a more strategic role.
AI based technology can build customized job descriptions that attract high-quality candidates for recruiting. In addition, the technology can swiftly scan large amounts of resumes and reduce the candidate pool to those who are most likely to thrive at the organization. Chatbots can help applicants navigate the application process and respond to their questions at any time of day or night.
AI can also be utilized to make the onboarding process go more quickly. Companies can use the technology to develop onboarding materials and compile data automatically. Chatbots help answer queries from new employees. AI can also automate benefits enrollment, facilitate networking between new and existing workers, and gather feedback on onboarding experiences. Even during onboarding, AI may teach employees which skills they should focus on learning during their first months on the job, what short-term projects they should take on, and mentors they should meet.
AI Automates Repetitive HR Operational Tasks
Another method AI based technology aids strategic HR scaling is automating repetitive duties. These are only a few of the time-consuming administrative tasks:
- Taking care of benefits
- Arranging for interviews
- Keeping track of staff attendance and absences.
- Payroll administration is a specialized field
Artificial intelligence also allows administrators to make data-driven choices more quickly, allowing HR departments and businesses to meet their objectives.
Human resource management can scale strategically thanks to the capabilities afforded by AI. Its role becomes increasingly strategic to organizations as practitioners are freed up to focus on growth-related projects rather than administrative activities.
Do you want to know more about AI based technology? To learn, contact the ONPASSIVE team.