HR Bulletin Volume 9

Volume

Volume

1. Interesting time for HR functions because of technological component: Gretchen Alarcon, Oracle

It's an interesting time for chief human resource officers (CHROs) because there is a technology component to everything in their charge, said Gretchen Alarcon, group vice president, human capital management strategy at Oracle Corporation.

It's an interesting time for chief human resource officers (CHROs) because there is a technology component to everything in their charge, said Gretchen Alarcon, group vice president, human capital management strategy at Oracle Corporation.

In an interview to ET, she said the biggest job before CHROs is to align technology with business objectives.

Edited excerpts: Q1. Technology is no longer an option today. Are HR functions of organisations ready to take on this challenge?

It’s time for HR to take on more technology. In the past the focus for technology was more broad questions, such as whether you have an app. That was the question of 2010. Now the question is more, how does the technology improve my business process? How does it help me do something better?

The conversation now is about how does AI improve your recruitment process or how could AI improve learning management, etc. Technology is no longer something that gets added on top of HR, but something that augments the business processes within HR.

Q2. Will robots replace humans in HR or do you think they can coexist?

What we are finding in most organisations is the change in technology is helping them think about other ways that they can do business. So, there are new jobs being created as technology is taking on some other responsibilities. Technology helps you better utilise data, find insights, prioritise those insights and make recommendations, but a human actually takes that recommendation and does something. There are areas there where data or the system helps make the humans smarter or helps the human do more of the work that they are better suited for.

Our research shows that many respondents felt that most of the things that an AI system can do better were very transactional, such as allocating expenses, managing budgets, scheduling time, etc.

These are things that really humans do today, but it’s not that there’s a dramatic amount of judgment or empathy or creativity needed for that. So, if the technology can do that and free up a manager to coach better or to do a better job in the recruitment process or to give better feedback, it’s a win on both sides.

Read more at: https://economictimes.indiatimes.com/opinion/interviews/interesting-time-for-hr-functionsbecause-of-technological-component-gretchen-alarcon-oracle/articleshow/73983255.cms

2. How Next-Gen Technology Can Keep HR Data Safe

As hackers grow ever-more inventive and data privacy laws are enacted around the globe, HR leaders are faced with the challenge of protecting and storing sensitive HR data but not curtailing employees' ability to use that data to make timely workforce decisions.

But there may not be enough cybersecurity colleagues to call upon for advice and technical assistance, which compounds those challenges. Approximately 65 percent of companies reported a cybersecurity staff shortage last year, according to the 2019 Cybersecurity Workforce Study conducted by (ISC)2, an international non-profit association for IT professionals. As a result, more companies are turning to security strategies that don't require human intervention, such as cybersecurity powered by artificial intelligence (AI) that can proactively monitor and neutralize new kinds of cyberthreats.

New Strategies for More-Sophisticated Attacks Research suggests that concerns over data security are occupying more of HR leaders' time and resources. The 2019-2020 Sierra-Cedar HR Systems Survey found a 17 percent increase from the prior year's survey in the number of respondents deploying cybersecurity strategies, with 70 percent of HR organizations reporting they have and regularly update such a strategy. That's good news, because the FBI reported receiving 350,000 complaints of Internet crimes in 2018, a rise of 23 percent over five years. Those crimes caused an estimated $2.7 billion in financial losses.

"When HR systems are breached, it goes beyond the personal data stolen, because HR is central to so many processes across the organization," said Corey Williams, vice president of marketing and strategy at Adaptive, a cybersecurity firm in Santa Clara, Calif. "HR systems are the starting point for much of the access employees have throughout the organization. HR data doesn't sit on an island like other data, and when you have vulnerabilities at the HR level, you're exposing the entire enterprise to wider attacks."

Security experts say the loss of sensitive data like payroll information, Social Security numbers and notes from internal investigations or employee assessments has implications far beyond the HR department.

AI-powered security tools represent a new approach to combating threats to HR data. While not a cure-all, these technologies can protect against malicious attacks driven by automated malware and have capabilities, such as pattern recognition, that can identify suspicious behaviour and block potential problems or threatening online traffic in real time.

Read more at: https://www.shrm.org/resourcesandtools/hr-topics/technology/pages/next-gen-technology-cankeep-hr-datasafe.aspx?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+shrm%2Fhrne ws+%28SHRM+Online+HR+News%29

3. [Trends 2020] How will HR Tech Shape This Year?

In today's world, business has become dynamic and technology has become more disruptive.

HRTech is bound to evolve in the coming times. In 2020 and beyond, we expect enterprises to take a deeper dive into artificial intelligence (AI), deep learning, machine learning (ML), predictive analytics, higher employee engagement, HR analytics, focus on diversity and inclusion, continuous performance feedback and personalized learning experiences. Disruptive technology is holding the centre stage these days and it will lead to clearer visions in the coming time. In today’s world, business has become dynamic and technology has become more disruptive, and new innovations are bound to hit the HRTech space.

robotic process automation such as hiring and onboarding, recruitment, HR administration, analytics and payroll processing. Intelligence hiring through ML can establish a structured hiring and on-boarding process to enable digital workplace and accelerate new-hire productivity. ML powered HCM solutions enable organizations to derive intelligent insights that help navigate these challenges, reduce the cost of a bad hire, and maximize the return on investment on the resource time and cost spent on hiring.

HRTech is a $2 billion market in India, yet it amounts to only 0.5 per cent of the global industry, which is estimated at $400 billion, according to news reports.

By 2020, 20 per cent of organizations will include employee engagement improvement as a shared performance objective, according to a Gartner report. There is a strong correlation between employee engagement and business outcomes. Higher employee engagement tends to have an improved business outcome, increases Ebitda margins and better customer experience.

Employee engagement strategies can increase happiness quotient also it helps in retaining employees and manage attrition in the workspace.

AI, deep learning and ML Will Evolve More Robotic process automation (RPA) can be used to automate processes that are repetitive, prone to error and hypercritical. There are 50 per cent to 60 per cent of HR processes that can be replaced with

Read more at: https://www.entrepreneur.com/article/345686

Employee Engagement Will Increase