Human resource management is a critical aspect of any organization, but today technologies have become the main protagonists in this task. In time, advances in artificial intelligence (AI) technology have brought automation and task assistance possibilities closer to businesses than ever before. All of this, against a backdrop of talent shortages and digital workforce disruption, which has forced organizations not equipped with the necessary tools and resources to turn to technology for help.
According to estimates from Fortune Business Insights, the global HR technology market is expected to grow from $24 billion in 2021 to nearly $36 billion in 2028, with companies prioritizing investments in AI to optimize business processes. business processes and reduce costs.
In fact, in Argentina the trend is replicated: a report by Grupo Gestión recently highlighted that more than 60 human resources leaders from leading companies in the country showed that there is an opportunity for these solutions in the search and selection processes of personnel. Half of them indicated that the selection of candidates through AI generates confidence in a scenario where finding talent is increasingly complex.
One of the biggest challenges facing personnel management is attracting the best professionals. Organizations struggle to find and retain the most qualified employees in a highly competitive job market. And it should be noted that this is especially true for high-demand roles, such as those related to technology.
“The incorporation of artificial intelligence solutions in talent management can help organizations make more informed and data-based decisions, improve process efficiency and reduce possible biases in decision making, which can be essential for the success of the company”, says Emiliano Dato, VPO Healthcare & Insurance at Softtek. AI can help in this task by automating the recruitment process.
In this sense, the results of the Grupo Gestión study show that companies with fewer employees show greater adherence to the possibility of using AI for the search and selection of candidates. The main benefit of these tools is in saving time in which the company can obtain the result it is looking for.
“If we manage to digitize the flows of human resources with human criteria but relying on technology, this will allow us to make quantum leaps in development and take this in an increasingly exponential way. For this we find tools that allow us to digitize and streamline labor tests. What used to take an hour, for example, today can be solved in 15 minutes”, explains Juan Galo Martinez Nigro, CEO of Readiness.
Once talent needs have been identified, AI can help search for potential candidates, for example, through personalized ads that help target the right groups of candidates across the web. In addition to adding new levels of efficiency to the search process, AI systems also do a better job of tracking applicants, unlike traditional manual processes. This is because these systems can be trained on large data sets to understand the traits of ideal candidates and quickly identify the best ones.
Next, this technology can further assist the hiring process through automated application tracking tools for resume scoring and ranking. You can also significantly reduce the time a recruiter spends reviewing non-technical aspects of candidates, such as communication skills, by using virtual reality-based dialogue systems or virtual recruiters.
At this point, Gaston Vilachan, leader of Talent Attraction at Ceta Capital Humano, warns about the importance of not losing human contact in the candidate selection process: “Feeling accompanied when faced with a decision as important as undertaking a job change process is very important. Beyond the fact that AI can decompress tasks, we must not forget that this is a key area from the containment, accompaniment, development and loyalty of people. AI can be applied to tasks that usually require a lot of physical time so that HR professionals spend more time attending to other priority needs of people and the entire area becomes even more strategic in their service.”
AI can also help manage verticals like employee diversity and inclusion by automating the performance review process. This includes the use of machine learning algorithms to identify bias and discrimination in assessments.
Talent management also faces the challenge of managing employee engagement. With the rise of remote work and flexible hours, keeping work teams engaged and motivated can be complex, leading to decreased productivity and higher turnover rates.
From salary dissatisfaction and burnout to a lack of work-life balance, an employee could leave a company for any number of reasons. Since companies often dedicate a lot of time and resources to training and growing an employee, they must also take the time to assess their reasons for leaving the company.
At this point again, AI can be a great help tool for employers. “People Analytics dashboards now include not only descriptive information about people (such as turnover rates by age, area, leader, project, compensation), but also predictive (identifying which employee will resign next month) and prescriptive (suggesting specific actions that the company should take to prevent its exit), thanks to the implementation of algorithms based on AI”, explains Emiliano Dato, from Softtek.
The application of this technology can help manage employee engagement by automating an engagement survey that, using machine learning algorithms, identifies areas for improvement, provides feedback and guidance to employees, and tracks progress throughout the organization. of time, together with a benefits and compensation strategy that adapts to more personalized needs and tastes.
Another interesting use has to do with training. HR teams also have the ability to leverage AI and data to understand refresh needs in each department and create internal training opportunities. At Readiness they are developing a job assistance platform called Taet in which each person can put all their abilities or skills in terms of professional development. In this way, when applying to a search, the AI will allow a data crossing: “Each person can load their profile and compare it with the one requested. Algorithms are able to show where the necessary training or skills are lacking and, at the same time, quickly devise a plan for the person to acquire a certain amount of harder or softer knowledge or skills to apply to that search,” says Nigro.
Regarding the revolution that ChatGPT has generated in all industries, talent management is no exception. As Dato points out: “Personnel selection analysts ask ChatGPT to create questionnaires to evaluate all kinds of specialties and use this in their interviews, without depending on subject matter experts.” Additionally, companies that have evolved their internal conversational assistants (ChatBots) have significantly improved the employee experience.” “This is a powerful tool that facilitates the resolution of your concerns on the spot, without depending on the Human Resources teams traditionally assigned to this end,” he adds.
In short, AI can be a very powerful tool for talent managers. However, this advance requires that HR professionals not limit themselves to the adoption of technology, but rather take into account the biases and limits that its application may entail. What is clear is that AI can free up a good amount of time for these professionals to focus on other tasks that provide greater added value to organizations.
Journalist and Account Director at AdverPR (www.adverpr.com)
Source: Ambito
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