AI is a transformative technology, which can disrupt all functions of an organization including Human Resources departments… Fast growth in AI adoption might force every organization to rethink its HR strategy within the next few years. According to the 2019 Global Human Capital Trends report by Deloitte, about 74% of HR executives consider the new technology is important in their organization, but only 6% were making use of it.
Here are the top 5 reasons why you should invest in AI for your HR strategy:
1) AI for performance analytics
With AI it becomes extremely easy to keep track of work, processes, which increases transparency and makes performance tracking easier… This makes employees more accountable, which incentivizes them to perform better and keeps their productivity levels high.
2) AI helps identify future leaders
Managers can keep track of the level of performance of each employee in their teams and identify top talents. Moreover, they are able to track the skillsets employees are developing over time and see their ambitions. AI-powered Analytics can provide clear information on the progress people make on an ongoing basis; thus, the leaders are easily identified.
3) AI helps retain talent
Talent acquisition is not an easy task, and 60% of managers consider employee retention a bigger challenge. With AI you can always know your best talent and get notified when the employee is planning to leave your organization. It is done with the help of predictive analytics, which can help you come up with innovative ways to retain the employees better.
4) AI can make mobility better
If you engage AI in internal mobility, the process of the selection of candidates for any post will be handled by the AI’s algorithm leaving the HR department with less stress as opposed to selecting thousands of candidates by themselves.
5) AI can improve learning and development outcomes
Ongoing training programs are important factors that can improve employee engagement. Many companies already found that AI-based learning is crucial in imparting analytical, critical, strategical, and emotional intelligence among employees. Furthermore, AI can easily match relevant content and recommend courses best suited for employees creating a personalized learning experience.
To be ready for the future of human resources management, professionals should take the necessary steps to learn about current trends in the field. But only knowing the trends is not enough, the most important step is to apply the knowledge efficiently at your workplace. If you do not know where to start, contact our team at Education4sight, and we will help you in your journey in AI in HR transformation.