HUMAN RESOURCES- 3 Reasons to Capitalize on an AI-Powered HRIS- B-AIM PICK SELECTS

October 15, 2020

AI continues paving its way in enterprises, bringing stakeholders lasting benefits. And HR departments are no exception. In this feature, we’ll explain how AI can streamline routine tasks, revamp recruiting, and enhance employee experience.

Human resources has been a bit slower to leverage AI and machine learning solutions than areas like marketing or sales. But now recruiters are waking up to this opportunity, with 55% of them planning to make AI an indispensable part of their unit in five years.

Indeed, by marrying your human resource information system (HRIS) with AI, you get brand new ways to enhance your department productivity and quickly adapt to a growing, digitally focused HR environment. So if you aren’t in the AI fray yet, we’ll give you three major reasons you’d better be.

Routine task automation

HR specialists are saddled with an array of repetitive manual tasks, losing an average 14 hours per week. In some companies, this number is even higher and varies between 20 and 30 hours. To avoid burning time and money, use AI for routine function automation.

You can start, for example, with automating such tasks as scheduling interviews, meetings, and training, sorting out emails, handling onboarding paper, as well as tracking employee attendance and performance. AI and business intelligence can also help you better analyze user and department activities, identify billable hours for teams and projects, track target completion, and more.

Another function that might need AI assistance is job posting. With an AI-empowered HRIS in place, you can analyze substantial amounts of candidate data generated on the Internet, unwrap meaningful insights for augmented writing, and use predictive analytics to create the optimal job offerings and target the right candidates at the right time.

Better job matching

According to Harvard Business Review, HR managers are good at eliciting information from candidates, but they fail to effectively weigh the results, with a simple automatic equation outperforming them by 25%.

To revamp your candidate shortlist generation, you’ll need an advanced natural language processing algorithm that would classify results not just on simple keyword frequency but also on a comprehensive taxonomy of job types, skills, interests, and preferences from both sides, as well as the semantic similarity of job cross-references.

Besides, fed with valuable data from hiring platforms, social media, personal websites, and tech chat forums, your enhanced HRIS can alert when sought-after candidates are open to new opportunities.

Improved employee experience

Employee retention is often a hard slog even for high-profile companies. To wit, 3 million U.S. citizens have voluntarily quit their job every month since June 2017. But as practice shows, AI and BI could give HR specialists a significant leg up in minimizing attrition risks and raising employee satisfaction rates.

By marrying your HRIS with pattern recognition and predictive analytics, you can get advanced insights into post-hire outcomes and your organization’s environment.

In turn, with such business intelligence, you’ll be able to identify areas that need more attention — for example, reduced performance or increased attrition — and take the necessary steps to boost employee satisfaction and engagement.

Your HRIS could also act as a smart digital assistant. Namely, by conducting an enterprise-wide analysis of the work done, it could pinpoint the most influential and contributing employees, reminding you of possible recognition opportunities and suggesting the optimal level of reward suitable for a particular situation.

Summing up

There’s a growing concern about AI’s ability to replace a wide range of human jobs. But with 31% of automation probability, HR managers are unlikely to be substituted by machines. Conversely, with huge amounts and diversity of data, this tech is poised to become a great collaborator and enhance recruiting capabilities.

If you’re still on the fence about pairing up your HRIS with AI, here’s a brief summary of benefits this smart tech combination can bring you:

1.saved much time and money thanks to high-volume routine function automation

2.improved job matching and early detection of passive job seekers

3.better tracking of employee productivity

4.minimized bias that is common to human interviews

5.increased employee engagement

6.proactivity and refined decision-making.

 

 

 

 

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