AI technology is one of the most dominant themes among recruiters. AI-based technologies can analyze, predict, and diagnose better to help HR teams make better decisions.
Copyright by people.in
Artificial Intelligence is becoming sharper and its ability to analyze, predict, and diagnose is improving fast. AI is being adopted in most business areas today. Be it in sales, marketing, or HR, everyone’s tech stacks are being infused with AI. In fact, AI technology is one of the most dominant themes among recruiters. AI-based technologies can analyze, predict, and diagnose better to help HR teams make better decisions.
As the head HR professional in any organization, it is imperative that CHROs understand how this technology impacts the entire HR processes in an organization.
Here is a primer for CHROs and the five key things they should know about AI.
1. A Boon to Recruitment
Screening resumes efficiently and time-effectively still remains the biggest challenge in talent acquisition. A major selling point for AI has long been how it can automate such repetitive tasks, thereby creating efficiencies for recruiters and hiring managers.
The usual drill is spending hours scanning LinkedIn, posting on job boards, or attending career fairs. Screening resumes efficiently and time-effectively remains the biggest challenge in talent acquisition. A major selling point for AI has long been how it can automate such repetitive tasks, and locates top talent, thereby creating efficiencies for recruiters and hiring managers. This can help ensure that organizations are bringing in candidates in a quick and efficient way. And because here technology, and not a person, is sorting through this data, it will weed out the human biases in the hiring process. The hiring team would only see a person’s skills, not their name, what city they’re from, or where they went to school.
Now, let’s put these ideas together. When HR managers can screen candidates more efficiently, mitigate hiring biases, and more accurately predict someone’s likelihood for success in a given role, they can create a much stronger hiring funnel.
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2. AI Supports Retention by Recognizing Patterns in Staff Engagement
Just as AI tools can help predict whether someone will be a good fit for a role, they can also predict whether a current employee is likely to leave.
With more data to be analyzed, employers can better understand how employees are feeling about their jobs and better gauge whether or not they intend to stay with the organization. AI enables an employer to identify employee’s areas of dissatisfaction and the underlying causes behind them.
When an organization has clear data on what motivates a person, what they feel dissatisfied with, and what their career aspirations are, the organization can match that person to new internal roles.
Retention is all about giving talented employees an internal next step in their careers. AI can help spot opportunities to do so.
3. Task-Based Approaches to Work
Just as the technology can screen candidates more quickly than a person working manually, AI can create similar efficiencies in many other jobs throughout an organization.
This will have huge implications for management. It won’t make sense in such a workplace to manage an employee’s output by measuring tasks completed. Instead, companies will need a new model for measuring and managing work.
In other words, a CHRO must manage their workforce’s capacity to drive value, not complete tasks.
Salaries and other forms of employee compensation will need to reflect the shifting value of tasks all along the organization chart. When some tasks are already done partly by AI, that cost can be cut down and the value workers bring to the remaining tasks increases. Those tasks tend to require grounding in intellectual skill and insight—something AI isn’t as good at as people.
4. People Will Need Training to Join an AI-Powered Economy
AI is often spoken of in terms of job disruption. There has been a prevailing mainstream belief that AI tools will replace the labor of people who perform rote tasks.
The reality will be more nuanced than that. As per Brookings Institution research, “skilled” white-collar jobs will be especially vulnerable to AI’s disruptions. Their analysis shows that AI will be a significant factor in the future works lives of relatively well-paid managers, supervisors, and analysts. However, AI may be much less of a factor in the work of most lower-paid service workers.
The implication, then, is many organizations will need to undergo top-to-bottom workforce retraining. That way, they can deploy AI assets for the work that AI is best at, and they can deploy people for the work that people are best at.
This retraining will need to focus on transferable skills, adaptability, critical thinking, compassion, and self-awareness. […]