Decoding the future of HR
The enormous worldwide magnitude of the Covid-19 epidemic has resulted in disruption becoming the new normal in many aspects of life. The pandemic has caused a significant change in the way several business streams work, including human resources. The epidemic has spurred businesses to expedite their use of 21st century HR technologies and to find innovative methods to maximize its value.
The lockdown signalled a paradigm change to what has come to be known as the "new normal" - overnight shifts from offices to virtual workplaces heightened the need for HR digitalization, which was lacking in many businesses before the global health crisis. The major areas of emphasis in which HR has been engaged may be classified into two categories: digitalization of HR processes and technological transformation.
The Role of Technology in the HR Hiring Process
According to a recent KPMG study research on Covid-19 HR in India, 66 percent of organizations have postponed or paused recruiting schedules, while 30 percent have reduced their recruiting headcount budget. Furthermore, in order to overcome the limitations of physical cooperation, an increasing number of businesses are using innovative working methods like digital platforms.
Organizations must urgently re-imagine their human resource environment, particularly their recruiting strategy, in order to weather the current crisis while also planning for the future. Leaders are seeking automation solutions that address the paradigm change that has resulted in new approaches for working, evolving job positions, and a tumultuous recruiting market. Once HR slowly began to turn to artificial intelligence to digitize its processes, things began to open up and shift.
AI Brings Profound Transformation to the Recruiting Process
HR departments all across the world are using Artificial Intelligence, Data Analytics and Machine Learning to expedite work and improve the recruiting process. Recruiters used AI software to do job-candidate matching, which is a step forward from conventional, commoditized recruiting procedures. The skill sets required for a certain job function are rigorously matched with the capabilities held by applicants via job-candidate matching, resulting in better recruiting choices. As a result, recruiters may cast a broader net when looking for prospects, knowing that only the best and most qualified prospects will show up for interviews.
Furthermore, HR managers placed a larger value on applicant experience throughout the recruiting process. This prevented the proper talent from being lost to rivals owing to a lack of engagement or timely response. HR managers started employing automated chatbots to offer feedback after interviews and improve the applicant experience. AI-enabled HR managers to analyze everything from cultural compatibility to applicant capabilities practically instantly using machine learning and Natural Language Processing. Finally, to further optimize the recruiting process, recruiters used social media, online ads, and video-based recruiting platforms.
The Growing Importance of HR's Role in Organizations
Human resources include more than simply employee onboarding and talent acquisition. While the lockdown appeared like a well-deserved break at first, it had a negative impact on staff morale after months of confinement. HR professionals all across the globe have had to cope with an increase in employee mental health difficulties. Changing the manner of internal communication, making employee communication more interactive, stepping outside their domain of responsibility and checking in on employees is also a part of HR's responsibility.
During the pandemic, technology played a critical role in assisting HR in managing their personnel. HR technology solutions have aided talent managers in interacting with employees, receiving real-time feedback, assessing their performance, determining incentives, engaging with employees, and even connecting with them on a personal level.
AI will revolutionize the future of Human Resource Management
There will be a dynamic movement from conventional HR operations to technology-based operations as HR becomes more reliant on technology to operate and manage personnel. According to experts, we will see this transformation in the future decade, to the point where new and previously unknown HR professions will become prominent by 2030. In an article published by the Harvard Business Review, over 20 new HR-related tasks and responsibilities were identified as likely to become genuine positions in the near future. Human Bias Officer, Human Facilitator, Business Continuity Director, Human Network Analyst and many more occupations have their origins in technology.
This is the beginning of a technologically-driven HR development. Technology will play a considerably larger part in HR activities in the future than it does now, and it is reasonable to say that this epidemic has served as a rehearsal for the future of HR management.