Deloitte’s Global Human Capital Trends 2016 report showed that the percentage of organisations using people analytics had increased from 24% in 2015 to 32% in 2016.
Technology, more often than not, supports development, be it related to nations or human resources, and those who overlook it often remain unnoticed in the world of competition and advancements. If a business is not giving proper attention to technologies in up-scaling operations and processes, it would never extract the best from the applied resources. Today is the era of data-driven artificial intelligence (AI), which is not just strengthening marketing, sales, R&D and quality control functions, but also people management. So, how can AI help the people management function?
Businesses across the world have started to use AI to study the behaviour and activities of their employees. They are taking the help of AI-based predictive analyses. It is the responsibility of every HR manager to parse the actions, decisions, intentions and aspirations of the employees and AI is a powerful tool in this regard. As Big Data is the backbone of AI, companies can easily track and analyse the entire work cycle of an employee. From getting the information about the number of effective hours of each employee to measuring the monthly failures rate, AI provides a variety of information to the HR department. Using these patterns, HR professionals can quantify the efforts of the workforce and lead to a better cost-benefit analysis. Consequently, the insights gathered from the AI system can be used to devise more effective strategies and action plans that increase the per capita contribution of each employee.
Digitisation is emerging as a great boon for businesses that are receptive to adopting technology in every possible functional area. A recent research by Deloitte (Global Human Capital Trends 2016) showed that the percentage of organisations using people analytics had increased from 24% in 2015 to 32% in 2016. The research also showed that the percentage of companies that believe they are fully capable of developing predictive models doubled, from 4% in 2015 to 8% in 2016.
Based on a variety of data collection sources such as employee roster, biometric details, e-mail account details and WhatsApp communications, HR managers can develop clear insights on a variety of engagement and performance-related issues. This means AI has started empowering HR teams with predictive intelligence that allows them to improvise potential opportunities and avert potential threats.
Predicting problems and prescribing solutions well in advance are one of the benefits of AI. By keeping a close track of employee engagement level, performance report, cultural and technical feedback, AI surfaces the company with specific predictions, benefitting HR professionals with great insight regarding the opportunities that need to be tapped and the risks that need to be avoided. This is one of the ways AI is supporting HR teams and managers in recruiting new talent and retaining and motivating existing employees.
Abhishek Agarwal is senior vice-president, Judge Group India, the professional services firm.