5 Ways Your HR Department Can Benefit From Artificial Intelligence
Will AI replace HR managers? Unlikely. Still, modern-day companies must realize they need new technologies if they’re to stay at the forefront of their field. This includes human resources: and here are five ways HR departments can benefit from using AI-based solutions.
AI can help the Humans in Human Resources
There’s been a seismic shift in labor markets. Across industries, there’s now a shortage of skilled employees. The landscape is forcing companies to use increasingly innovative methods not only to find but also to keep the best talent. These days, to avoid lagging the competition, every sector needs to know which solutions can help them source, then retain the employees they need.
Artificial Intelligence is one such solution. It can significantly improve processes and make the people in your HR department infinitely more productive. Nowadays, there’s a great variety of tools on the market, each of which can enhance the way you recruit, onboard, and manage your employees.
Moreover, analysts forecast growth in the sector. Novel tools focused on the HR industry will continue to appear, and that’s unlikely to stop anytime soon. Given the shape of the employee market and the fact that candidates have increasingly tough asks of both recruiters and employers alike, it’s hardly a surprise.
According to the 2019 Deloitte Global Human Capital Trends report, “74% of HR executives think that new technology is ‘important’ or ‘very important’ in their organization.” However, when it came to rating the recruitment function in their own organization, just 6% said they used best-in-class processes or technology.
They’re making a huge mistake. How so? As the Deloitte report points out: AI-based solutions are proven to enhance the efficacy of any modern HR department.
Why every HR department should invest in Artificial Intelligence
1. AI helps HR employees work more efficiently
AI developers have built products for every industry. With the right toolset, your HR managers will quickly find they can manage their workflows more effectively and so spend less time on each individual task.
Increased speed won’t mean reduced quality. On the contrary, employees will work more accurately as well as getting more done. Which means what in practice? Well, integrate an AI-based tool and your HR managers could:
- Analyze and shortlist thousands of CVs in half the time
- Collate information and consolidate vast datasets
- Search social media (and other online resources) to build detailed candidate profiles
- Interact with applicants via conversational chatbots
- Analyze facial expressions, body language, even vocal tone, during job interviews
- Automate the management of employees, benefits, leave — you name it
As you can see: AI-based tools mean faster work and better results. They let employees process vast volumes of data in a short time so that your organization can achieve better outcomes more quickly than if you relied on humans alone.
2. AI makes your business more competitive
These days, keeping up with the competition is hard. You need the right tools and processes to stand a chance.
In an age where hundreds of employers are competing for a handful of employees, you need to know the methods you’re using to attract, engage and hire the right talent is maximizing your chance of success.
3. AI improves employee engagement
One of the leading uses of artificial intelligence is to eliminate the most arduous and monotonous of tasks from the daily grind.
Once you introduce AI-based solutions in your workplace, your employees will suddenly discover the time to attend to what’s pressing, what’s interesting, and what gives them the most satisfaction each day, improving employee engagement across the board.
4. AI is a building block of your employer brand
There’s no avoiding it: you need to create the right image to attract the right employees. And the use of modern, AI-based tools during recruitment, onboarding, even benefits management can have a massive impact on building a positive picture in a candidate’s mind.
It not only portrays your organization as innovative; it proves you prize employee satisfaction and retention as much as on-the-job performance.
5. AI will save you time and money
Artificial intelligence isn’t just about output. It’s also about what you can save. Yes, many HR tools are not the cheapest, yet you can expect significant savings once you start to use them — ensuring an attractive ROI.
If nothing else, AI frees your employees from repetitive tasks, meaning you save time and money by automating what used to be manual.