HUMAN RESOURCES SECTOR

VISION

Vision:

  • Artificial Intelligence (AI) integration into human resources (HR) practices will improve organizations considering the way that these applications can analyse, predict and diagnose to help HR teams settle on better choices, according to research from the International Research Journal of Engineering and Technology.

  • With the rise of AI, there is increasing anxiety around gigantic job displacement.

  • This can be validated by widespread research:

  1. Accountants have a 95% chance of losing jobs

  2. 29% of legal sector jobs could be automated in 10 years

  3. Intelligent agents and robots could replace 30% of the world’s current human labor

  • Machine Learning and AI have reached users on every platform whether it may be online or offline.

  • Artificial Intelligence deploys Natural Language Processing (NLP) techniques to interpret words, information and apply logical and reasoning algorithms to produce useful insights and provide relevant data for analysts to focus on growing information needs.

  • The entire sequence of events from sourcing resumes by referring to a Job Description to scheduling interviews and turning out offers can be automated through appropriate strategizing and planning.

  • However, these are just the tip of the iceberg; there are few other innovative aspects to this, if appropriately explored, could result in strengthening the HR processing landscape.

  • AI breaks down and alters data into a format that is easy to read, and ML scans data to spot patterns and modifies plan actions correspondingly.

  • The insights provided by AI and ML generate suitable data to help HR recruiters retain and persuade existing employees and also to hire new job aspirants.

  • The integration of machines in the workplace complements human labor, giving us the opportunity to adjust and reap the benefits of using technology to simplify processes.

  • Artificial intelligence (AI), robotics, and automation have massively transformed business, supporting economic growth globally.

  • The implementation of such technologies will naturally change the workplace itself.

  • Latest trends in Contract Management Solutions also include machine learning algorithms and artificial intelligence highlights for giving alert for risky clauses, Chatbot to build contract using bots as part of automated on-boarding of customers and smart clause library, slice& dice dashboards for early alerts, management information and risk management, which makes the case to have Contract Management Solution as must for efficient running of Legal Department.

  • Deep Learning comprehends a large volume of data through neural network architecture.

  • It sets up basic parameters around data and leaves computer to learn through own its pattern.

  • For example, speech identification or Chat Bots are the key areas of deep learning in the HR context.

  • Robots and artificial intelligence (AI) appear to be entering each and every part of our life, at an astonishing development.

  • Machines and programs can self-learn, problem solve and think which means that, when combined with algorithms, technology, and big data, AI is currently mainstream.

  • Chatbots, virtual assistants, Amazon’s Alexa, Google Assistant, and Apple’s Siri are now commonplace and there will undoubtedly be much more to come.

  • Now we are entering into another new phase of robotics where intelligence is vital. Sub-processes in on-boarding, recruiting and payroll processing are some HR processes where bots are found to be usually deployed.

  • Let us take the instance of On-boarding/exit; the following tasks can easily be automated using this advancing innovation:

  1. Assess, prepare and create new joiner data, streamline information across unique corporate systems for preparation on Day 1, consolidate leave input from business territories and feed to downstream systems.

  • Some of the advantages of utilizing robotics in HR include time and cost savings, increased accuracy and efficiency, increased consistency of processing, improved efficiency and throughput.

  • In the case of recruitment, there are few areas where automation can be applied.

  • For example, consider the following situations:

  1. Processing candidate notifications for interviews, rejection and feedback, Candidate reviews – screening of CV’s and online application forms.

  2. Chatbots can automate routine processes that take a lot of the HR team's time.

  3. We can substantially automate recruiting activities such as screening candidates, scheduling interviews and dealing with the recruiting life cycle for candidates and recruiting managers.

  4. Employee onboarding and orientation is another area that's ready for automation.

  5. New employees represent a high number of queries to the HR team that we can easily automate.

  6. We can also generously automate regular processes such as attendance tracking, goal tracking, performance review, employee surveys, and tracking paid leave balances.

  7. In an effort to recruit the best talents, an increasing number of organizations are going out of the box by coming up with novel solutions and strategies to attract top talents.

  • Drone has come as a path-breaking technology for certain organizations to attract the best talents.

  • Indeed, business organizations especially in the ‘Silicon Valley’ are utilizing drones to attract and hire potential candidates.

  • They are using a fleet of drones with catchy messages to lure prospective candidates.

  • Employing the best talent is never an easy task, because smart brains prefer working for a business that inspires and challenges them and drones used for recruitment purposes is a sign that the company respects and leverages advance technology.

  • While chatbots give off an impression of being the most adopted technology so far, they are not really the one source of process improvement and efficiency.

  • Indeed AR and VR have numerous application possibilities for HR.

  • For instance, AR can create engaging onboarding experiences for new employees, while VR can be instrumental in building employee skills and emotional intelligence.

  • Chatbots are absolutely the most pervasive at most organizations, and for the benefit of non-technical attendees, the fundamental difference between AR and VR:

  • VR is tethered to a spot whereas AR can help you can move around. VR is immersive whereas AR is a digital data set augmented on physical reality.

  • AR/ VR-based applications can greatly revolutionize training and development.

  • They can take employee training to a completely new level, where conventional methods of learning have become insufficient to make an impact.

  • Workplace technology has entered a new era of intelligent automation.

  • The common decision-tree process is being replaced by true machine learning and artificial intelligence.

  • Other than offering voice-enacted help desks to address HR questions, some organizations are using virtual-reality glasses for on-the-job training or text and voice-enabled chatbots to provide a positive candidate experience.

  • The ultimate goal is to liberate HR professionals from performing monotonous transactions, enabling them to focus on more human responsibilities like employee coaching.

  • Through HR automation, organizations can design, streamline, integrate, and deploy necessary services quickly at a considerably lower cost.

  • If implemented right, HR automation can receive indispensable benefits. Here are eight key benefits of HR automation:

  1. Improve productivity due to quick processing and data sharing

  2. Reduce employee turnover due to elevated employee engagement  Slash down storage and printing costs associated with paper-based processing 

  3. Stay free from compliance risk or policy violations

  4. Enhance organizational development through efficient hiring at optimal operational cost 

  5. Drop in data entry errors and misplaced/lost documents

  6. Make intelligent business decisions with insightful reports 

  7. Collaborate with other stakeholders to recruit, train, and retain skilled labour Advantages of HR automation can offer companies include:

  • Automating Time-Consuming Tasks – HR automation can help with onboarding new employees or contractors by controlling, processing and filing the proper forms, but can also help in candidate selection. Rather than consuming the time of one or more HR people to sort through resumes and qualifications for open positions or calls for contractors, HR automation can identify applicants whose resumes contain the desired skill sets.

  • Embracing the Gig Worker – Companies keep on holding onto remote workers as well as temporary workers that may live well outside the company’s geographic headquarters. While faxing reports back and forth is one way to handle these forms, it’s certainly not the most efficient, because it doesn’t remove the delays inherent in having someone filling out paper forms. Additionally, transmission issues can mean fax documents aren’t clear or are not received.

  •  Supporting Strategic HR Planning – Strategic human resource management identifies the long-term best uses of human talent as demonstrated by business needs and by HR data. With strategic automation, HR teams can reduce paper shuffling and concentrate more on the key functions of HR such as talent forecasting, pipeline succession and more.