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HR 4.0
HR 4.0
It is a paradox for HR roles – for it to focus on people, it needs technology intervention. HR professionals can shift their attention to people and support growth-contributing strategies by powering one of the most talked-about digitisation trends, AI-driven solutions.
Artificial intelligence is the simulation of human intelligence using machines. As businesses become more complex, the need for seamless and intuitive solutions becomes paramount. AI can support HR in all junctures of an employee’s journey – from talent attraction and acquisition, development and career movement, constant engagement and satisfaction inquiry, rewards and compensation to employee off-boarding and post-off-boarding connect.
This is not about legacy vs. AI-led HR solutions, but the potential of HR in a digitised world.
Questions that linger:
Are AI solutions worth it?
The big question - What is the ROI of AI solutions? Although the cost varies depending on the size of the business, type of solution, customization, etc., businesses generally start to see a positive impact in less than 4-6 months. Many SMEs and MSMEs are wary of investing because of the substantial upfront costs. It may seem as AI solutions are mainly economically viable for large companies. With a few extra costs, AI solutions outperform legacy solutions, functionally and financially. Nonetheless, proper attention must be paid to data management, training, tracking results, and implementing appropriate actions to ensure optimum results. Take a quick look at our ROI calculator to know more.
How can HR evolve after adopting AI-led solutions?
HR can become a core part of a company by leveraging AI in a calculated way. HR hosts a vast amount of unutilized people data. According to the State of HR Analytics 2021, only 29% said they notably use people analytics to make positive changes. AI solutions can provide valuable and organized actionable data while driving predictable and routine tasks. Using this data, HR professionals can pinpoint concern areas, engage, develop and maximize employee potential through human interaction where purposefully necessary, and make impactful decisions. The endgame for these crucial conversations and data-driven outcomes is achieving organization objectives.
Supporting Stats
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%
of candidates are comfortable interacting with a Chatbot
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%
increase success rate in candidate screening process using game-based candidate screening leading to elimination of educational pedigree bias
40-
%
LMS aided by AI can help an employee 5x more material while reducing the actual training time by