Make Way For The Next-Gen HR Technologies
Due to the COVID-19 pandemic, work from home has already become the new normal, and technologies like AI and ML are likely to become more relevant in the HR sector
The COVID-19 pandemic has disrupted the global economy with a pervasive impact on almost all sectors. The human resource sector is no exception. Going forward, the proliferation of next-generation HR technologies will redefine the segment. A beginning has already been made with the work from home emerging as a new normal amidst the lockdown. Here are the top technologies that are likely to emerge more relevant in the HR sector in the post-COVID-19 era.
Artificial Intelligence
Though Artificial Intelligence has been around for some time, it is expected to play a more predominant role. The lockdown has replaced face-to-face interaction with a digital mode of communication. This has had an obvious impact on the hiring process. Going forward, Artificial Intelligence is a way forward in the hiring process.
AI can sift through online resumes and social media profiles and identify prospective candidates
based on key traits. It can also remove human biases during screening and be the first step to foster a gender-neutral workforce. Additionally, recruiter chatbots can answer the queries and grievances of candidates in real-time, provide links to job descriptions, apprise the candidate on the next steps of recruitment and much more.
Machine Learning
The role of Machine Learning cannot be underestimated in the HR function. Besides screening candidates during hiring, leveraging ML during video-based interviewing can gauge the mood of an interviewee and get an idea if he is being truthful on his credentials. The use of ML-powered chatbots can be of great utility in the onboarding process.
This is significant as hiring is taking place through a virtual model that has certain drawbacks such as lack of personalization. Machine Learning can also be used to gain feedback from employees.
ML can identify key themes and recurring issues in the feedback questionnaire to improve the overall experience.
Data Analytics
The ongoing COVID-19 crisis has underscored the relevance of collaboration among different departments of the organization. This implies that HR needs to increasingly work in tandem with the Finance department as workforce expenditure forms a significant portion of expenditure for the company and its overall financial health determines the size and composition of the workforce.
This assumes more importance in the wake of most firms suffering from a liquidity crunch during the lockdown. Data analytics can help in making data-backed and informed decisions in attracting, managing and retaining the workforce. It can be used for exploring linkages between tangible goals and outcomes, improving productivity that ultimately impacts the bottom-line of businesses. It can also help in the automation of certain tasks thus freeing the employees from redundant tasks and focus on their core functions.
Robotics
Robotic process automation can replace the repetitive, clerical and mundane operations in the HR function. With the firms increasingly downsizing the workforce and automating processes amidst COVID19, the robotic process can simplify processes such as hiring, benefits and compensation, general HR tasks, training and development and employee relations.
During hiring, the use of the robotic process can help in uploading data such as personal information and identify errors in the data processing. It can significantly reduce the hiring time by performing the necessary paperwork without human intervention. It can also be useful in performing compliance checks. Blockchain technology
Blockchain technology has revolutionized the fintech and insurance sectors. It has immense and untapped potential in the HR domain. The COVID19 scenario has led to several firms increasingly focussing on the upskilling of employees to utilize the time saved in commuting while working from home. Blockchain technology can disrupt the training and development function in HR by verifying and gauging the educational background, skills and performance of employees. It can also increase productivity by automating routine tasks as well as can regulate financial transactions such as cross-border payment and tax liabilities.
Hence it can be assumed that the post-COVID-19 scenario will usher a new dawn for the HR-tech sector.
The author is Founder & CEO of ZingHR