AI: Transforming Talent Management And HR Tech
Technologies such as AI are enabling the HR teams to reinvent and transform conventional process structures.
Technological factors have led to the transformation of almost every sector of the businesses. On similar lines, human resource (HR) has evolved too. The HR department has drastically evolved from sorting resume papers manually to the incorporation of technology and automation in the recruitment process.
At present, various talent pioneers are realizing the urgency to start adopting technologies such as artificial intelligence (AI), cognitive, analytics, augmented and virtual reality (AR & VR) to restructure the way new talents are being hired. HR professionals are emphasizing on employee strategies to yield experience, productivity, collaboration, simplify work, streamlining processes, and setting up new goals. Using technologies such as AI, organizations can reinvent and transform conventional process structures.
AI is changing the HR practices in the following ways:
1. Enhancing Candidate Experience
The primary application of AI in recruitment is talent acquisition. It’s an area where companies see immediate, significant, and measurable results when it comes to cutting down the time to hire, delivering excellent candidate experience and increasing the overall productivity.
For the purpose, a vital recruitment bot powered by AI can be used for candidate screening who are applying for a particular job and receives numerous applications. The bot can easily shortlist the candidates from among the bunch of resumes as per the required skill sets and respond to those who are capable. Moreover, it can also solve the basic query, enabling the recruiters to spend more time exchanging the cultural values of the organization rather than dealing with the FAQs.
2. Compensation Decision Support
Talent management and AI in HR tech assist employers and HR professionals in reaching better decisions provided by the insights. It can be great in terms of compensation. Until recent, compensation in most of the organizations is done after analyzing external and internal data points, thereby, making sense of the derived data and then marking the correct amount. Data can easily be accessed, interpreted, and contextualized via AI, which can then be shared with the HR professionals.
3. Personalized Experience
AI can be effectively introduced to an employee’s on-boarding process. New employees who don’t have an idea over who to connect with can get institutional information over all the employees with the help of AI-powered program. Such a program can also allow new-hire documents that contain all the useful information such as organization guidelines and training module.
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