Human Resources always had a human face to it, but thanks to the advent of increasingly refined algorithms, artificial intelligence is fast learning to deal with every aspect of the talent management life-cycle.
HR functions now cover much more ground than the conventional hire-fire-assess-reward routine. Every HR activity is now minutely aligned to organisational strategies. Consequently, any disruption that impacts the business affects HR strategies as well. And this is where technology can come to the rescue.
The growing trend of using AI algorithms in the interview process has recently been much in discussion. However, AI has the potential to transform the entire talent management system, end to end. Let us explore how.
- To begin with, AI can be used to predict the average time required to fill any open position based on skill-set and market situation. This would help the organisation in prioritizing the vacancies available, and not act in haste.
- Algorithms are now being employed to attract potential talent even before they actually apply. Chatbots serve this purpose well. Driven by natural language processing, they handle enquiries and effectively build the right image for the company.
- The selection process is already benefiting from AI. Major companies are now relying on AI-driven interviews as a first level of screening. The algorithm is trained to scrutinize a candidate’s responses as well as non-verbal reactions to assess both domain knowledge and character traits.
- AI will also be useful in estimating future on-the-job performance based on candidate data submitted during the selection procedure.
- Once a candidate is selected and has been inducted into the role, AI is being harnessed to evaluate employee data available within the organisation. Line managers are notified of the findings periodically. Even within a corporate firewall, AI can work on data from employee surveys and posts on social media.
- Training and upskilling are areas where AI is increasingly being used to optimize learning. AI-based skills inference enables the company to identify star employees.
- And finally, remuneration! Yes, AI has a role to play in this regard as well. Enterprises plan their compensation policy based on various external factors – including the state of the industry, the market for talent, the skills in focus, and so on. Algorithms can easily crunch the data and offer optimized solutions.