Five Ways Artificial Intelligence is Shaping the Future of HR
By Catherine Tansey
When it comes to emerging technology, none seem as poised for disruption in Human Resources as artificial intelligence, or AI. AI, the field of computer science that aims to replicate human behavior and includes machine learning and deep learning, is helping the most human-driven function embrace bleeding-edge technology in a big way. Tech-savvy CHROs and leading organizations are implementing AI-driven software to enhance their recruitment and onboarding processes, streamline operations, and improve the employee experience.
AI is helping improve HR analytics by helping teams extract meaningful insight and make recommendations in real time. Let’s take a look:
Recruiters have long harnessed HR technology to improve the pace of recruitment and the quality of candidates generated. Today, artificial intelligence is shaping a new landscape where workflows are automated and labor-intensive tasks, like scanning resumes and screening candidates, are reduced. In the years to come, AI is expected to produce the best candidates possible with human-like algorithms that can not only evaluate a candidate’s resume, but also assess general online presence, which can speak to hard to measure traits like drive, integrity, and ambition.
AI is also improving online applications. Recruiter databases already use data points like keywords and word flows to organize and prioritize the applications they receive online. As AI becomes more readily incorporated into the HR function, these tools are expected to grow better, faster, and more accurate, and be used not only for applicant processing but also for talent scouting as well.
Streamlined Onboarding Process
Onboarding is dreaded by most but needed by all. And as it turns out, many organizations have onboarding programs in need of a revamp — or no onboarding program at all. This can be hugely detrimental to an organization, as the correlation between a robust onboarding experience and retention is clear: with a “great” onboarding experience, 69% of employees are more likely to stay with an employer for three years.
Organizations are coming to recognize that onboarding is not a singular event, but rather an ongoing experience. And they’re using AI-powered chat bots to help new employees have the best experience possible from day one. With chatbots, new hires can quickly get straightforward answers about things like employee benefits or how to submit IT tickets, freeing up the HR team’s time to deal with more complex issues or strategic planning.
(You can also read about how to improve your onboarding our recent whitepaper.)
Better Indicators of the Employee Experience
Did you know that engaged employees are more profitable? They’re also happier, more productive, and less likely to leave their organizations. And while engaged workforce are no longer a nice-to-have but a business imperative, the annual surveys used to measure this fickle and vital ingredient to a healthy workforce are inefficient, inaccurate, and dated.
HR analytics tools to measure culture, engagement, and experience are helping HR leaders understand how the workforce feels about the senior leadership’s performance and how well the company is delivering on the values espoused. With HR analytics, companies can ensure the right questions are being asked of the right people at the right time by using psychometrics and behavioral analysis.
Improved Predictions & Data-Driven Culture
The HR department is historically one driven by qualitative analysis. Afterall, prior to the digitalization of the workforce and the rise of big data, recruiters and HR professionals routinely made decisions based on gut feelings. Now, HR is not only expected to be as data-driven as any other mission-critical corporate function, but is also actually the analytics leader in some of the most forward-facing organizations. In fact, thirty-one percent of respondents to a recent Oracle survey noted they were already using machine learning and predictive analysis to identify flight risks, forecast high-performing recruits, and select the best candidates with resume scanning.
Clearer Answers to Questions about Employee Benefits
AI is demystifying convoluted employee benefits programs by giving employees human-like answers to real questions, fast with chatbots. Most companies offer three separate plans for health, dental, and vision insurance, and have policies for FSA, PTO, and wellness programs.
Finding simple answers to questions about these benefits can be costly to companies and frustrating for employees. Chatbots are changing this. AI-powered chatbots are helping HR teams answer questions about employee benefits—often complex policies or procedures, in easy to understand language about practical applications. Companies spend on average 30% of an employee’s salary on benefits, a number that’s only expected to increase with the rise of high-deductible plans as baby boomers age. Using chatbots to help employees quickly find simple answers to questions is an easy way to ensure benefits packages are being fully utilized.
Staying ahead of emerging technology today is no easy feat, but one thing is clear for HR leaders: it pays to discuss incorporating AI into your function today. From improving new hire onboarding to more accurately measuring the employee’s experience, as well as providing quick and easy answers to questions about benefits, AI is shaping the HR of the future.
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