Artificial Intelligence and machine learning have automated processes, streamlined operations and have also started making intelligent decisions.
By Sukhjit Pasricha and Shaakun Khanna,
Artificial Intelligence and machine learning have automated processes, streamlined operations and have also started making intelligent decisions. This proliferation of technology has stoked the fear of cold and calculated robots replacing human interaction.
Despite these concerns, a recent study has found that 93% of people are ready to take orders from a robot and more than a third of employees believe that AI will enable better customer and employee experiences. Even then, only 6% of HR teams are actively deploying AI and machine learning solutions. This chasm reveals the missed opportunity for AI to help HR meet evolving employee expectations for a personalised, relevant work environment.
When it comes to the use of AI, most HR professionals have reservations that AI will make this human-centric function less human. What if it can be proved that by embracing AI you could make HR more humane. It sounds ironic, however, if AI implementation is done in synchronisation with other HCM solutions, it can enable organisations to hire better, onboard smarter and retain people longer.
Recruiting Experience like never before
Recruitment is one of the scariest parts of HR. Incessant pressure from teams to find the perfect fit and endless hours of search often result in dead ends or unsuitable hires. In such a situation, AI-backed tools can help HR to take a more strategic approach to recruiting. AI, being fed with data, can identify talent with qualities that match those of existing successful employees and proactively invite them to apply. This makes the entire hiring process more efficient and the only resumes that HR and business teams will be sifting through are those of truly qualified candidates. And when the process eventually results in an offer, companies will have data-backed justification for the hiring decision.
Seamless Onboarding Process
The importance of a good onboarding process can be gauged from the fact that 17% of new hires resign within three months and 15% of those cited the lack of effective onboarding as the reason for their resignation. Change of employment is one of the most crucial decisions that one makes, and an unorganised and a difficult onboarding process will fail to reassure employees of their decision to join the organisation. Despite the realisation of the importance of the role that a good onboarding experience plays in employee engagement/ affinity, productivity and retention, however, a surprising number of businesses still lack an intuitive, formalised process.
Digital assistants also play a significant role in humanising the onboarding experience. The onboarding process can vary greatly from employee to employee, so instead of relying on an HR representative for help with commonly asked HR questions, new hires can now chat with a digital concierge to get quick access and answers.
Minimise Employee Turnover
An organisation is caught unaware when suddenly a great employee leaves because of lack of job satisfaction and motivation. Had the HR team been aware of the employee’s thought process, appropriate steps could have been taken to tailor the employee’s experience according to his or her expectations or needs.
AI can be an effective tool in HR’s hands to provide them with data-backed insights on motivating factors for an employee. Thus, HR can play a crucial role in retaining employees by creating a personalised experience that meets both the employee and organisation’s goals. Furthermore, AI can help HR to analyse traits and reasons for the resignation. This way HR can raise a flag when similar behaviour patterns emerge and can take preventive measures proactively.
A world of Endless Possibilities
In the talent economy, the future of any organisation will depend on its ability to attract and retain brilliant employees. Embracing the possibilities offered by artificial intelligence in HR, can transition an organisation’s environment from one facing high turnover to one that embraces a truly humane experience.
(Sukhjit Pasricha is President & Group Chief Human Resource Officer, Kotak Mahindra Bank and Shaakun Khanna, Head HCM Applications, Oracle Asia Pacific. Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)