IIM ROHTAK HUMANE-R PRESENTS IMPRESSIONS January 2022 HUMANE.R@IIMROHTAK.AC.IN
"The future of HR in the era of information and data"
Introduction The COVID-19 pandemic has altered the current Human Resources (HR) environment in various ways. The pandemic issue has proven to be a difficult test for HR directors to rethink workforce management, employee planning, experience, and performance initiatives. As a result, technology has shown to be a crucial facilitator in sustaining work continuity despite the turbulence, assisting firms to survive by embracing digital ways of working. Active,perceptive technology enables HR professionals to better respond to developing concerns like employee expectations, flexible working, employee welfare, and so on, providing a perfect chance to change workplace strategy.
Source - https://www.selecthub.com/hris/hr-trends/
Dependence on Intelligent HR Technology Before the epidemic, digital transformation was a primary emphasis of Human Resources (HR). However, with the risingacceptance of new working methods,such as remoteand hybrid work models, there is a growing demand for streamlined and intelligent HR solutions. AI, advanced analytics, machine learning, and cloud-based HR solutions have proven to be a massive windfall for HR professionals, allowing them to redirect their emphasis away from time-consuming administrative activities and onto crucial businessconcerns that have developed with the 'new normal.' HR departments are making significant strides toward a more efficient and collaborative workforce by embracing digital transformation and using people analytics. According to a recent CEB analytics research, firms that properly implement HR analytics may improve their personnel results by at least 9%. HR professionals can make strategic, wiser, datadriven choices throughout employee recruiting, engagement, and retention by leveraging insightful analytics and intelligent technologies.
Setting the Bar High According to KPMG, 77 percent of CEOs polled want to "expand their use of collaboration and communication technologies," and 67 percent plan to invest in technology rather than human skills. Similarly, according to the 2021 Deloitte Global Human Capital Trends study, "introducing digital collaboration platforms" is the most crucial aspect in sustaining this new way of working.
Source - https://www.selecthub.com/hris/hr-trends/
Advanced digital technologies increaseproductivity, add value,and make the work experience easier. Here are some examples of how digital workplace technologies are enabling HR professionals to reimagine the future of work – Workflow Automations Human resource specialists are frequently burdened with complicated and timeconsuming administrative responsibilities. Using traditional methods might result in human mistakes, suboptimal processes, and slower cycle times. HRs, on the other hand, may maximizeefficiency while also ensuring operational excellence owing to sophisticated processautomation. Workflow automation improves efficiency and productivity throughout company operations, from recruiting to off-boarding, and much more. AI Powered Analytics HRs may now gather and analyze employee behaviours and comments to get important workplace insights using AI-powered analytics and listening platforms. This enables HR professionals to stay connected and active in real-time and generate relevant solutions and predict challenges. It also aids in identifying people inside the organization who are likely to depart and developing viable solutions. Virtual Assistants & Chatbots HR workersspend over half of their time giving procedural knowledgeand constantly addressing the same inquiries. The introduction of virtual assistants and chatbots has liberated HR personnel from monotonous responsibilities. Chatbots and virtual assistants are making HR procedures more responsive and relevant in various ways, from answering simple queriesto updating employee information to handling timesheet reporting. AI-powered chatbots are also beingused to improvethe employee experience by conversing with workers and analyzing employee sentiment within the organization. This enables HR directors to assist dissatisfied employeeson a proactive basis.
Augmented Reality &Virtual Reality Wearable augmented reality, and virtual reality headsets can provide immersive experiences that engage the emotions and senses. Unlike previous approaches, VR and AR enable unique and novel means of recruiting. They allow candidates to experience the office atmosphere they will be joining and even 'role-play' a position they apply for. This makes it simple for HR to determinewhether the candidate is a good match for the job. BlockchainTechnology While blockchain technology is currently in its early stages, it is likely to become a critical component of HR services over the next decade. The high degree of security associated with blockchain technology makes it ideal for the HR profession, as HR directors have access to large volumes of sensitive employee information. Records may be readily encrypted and recorded with theuse of blockchain technology.
HR Technology Aids in EmployeeLifecycle HRs can transform the employee lifecycle with the help of the technologies above. This will help them simplify their work and boost their productivity, but it will also assist employees to smooth out their time in the firm and offer them higher job satisfaction. Sourcing AI provides a clear edge to recruiters that need to find and engage with several applicants by processing billions of pagesof data, mainlypassive candidates. Scepticsoften believe that AI- poweredsourcing systems are not as quality-driven as people. However,research by Leadership IQ, a company located in the United States that conducts employee engagement surveys, provides contrasting results. According to the study, 46% of all new workers sourced manually fail within 18 months. On the contrary, AI-powered platforms boost talent retention by up to 23% while minimizing human prejudice.
Screening Interviewer's abilityto judge a candidate based on body language indicators is inhibited by the lack of physical presence.The recruiting businesshas drawn lessonsfrom more technologically advanced industries like BFSI and gaming to address this. Organizations may compare a candidate to their NID and verify that the same persongets through each round of screening by incorporating face recognition, machine learning, liveness detection, and natural language processing into their hiring processes. These solutions, which integrate intelligence into the recruiting process, provide precise analytics and AI-based scoring on characteristics such as candidate expressions and voice emotion to allow standardized hiring at scale. Verification If AI-powered, database-driven, and tech-oriented verification was previously optional, it has now arisen as a need in the pandemic era. As offices closed their doors, companies foundthemselves unable to verify candidate name, residence, work history, criminal records etc. Many firms have now turned to tech-based companiesto embed technologyand intelligence into their background verification processes to increaseaccess, speed, scalability, and efficiency. Imagerecognition for identification verification geo-coordinate capturefor address verification is changing the game here. Onboarding Many prominent firms needed an end-to-end digital onboarding process that assures little paperwork and manual involvement and provides a beautiful applicant experience remotely during the last year. As a result, onboarding solutions that link with HRMS and ATS systems via APIs to offer standardised and easy onboarding journeys on a single platform are in great demand.
Becauseof their potentialto produce legallyenforceable contracts betweenstakeholders in any region of the country, digital documentation and e-sign solutions are in high demand.AI-powered, gamified onboarding experiences elevate virtualonboarding to new heights by offering customizable interactions via deep learning. Retention According to Gallup, an analytics and consultancy firm, the cost of replacingan employee can range from one and a half to two times her yearly compensation. This ratio is even more concerning in today's competitive employment market when 60% of employers questioned in India by Mercer Mett claimed they were looking to acquire people for new roles. The use of AI and big data can aid in employee retention by identifying high-risk individuals through the analysis of attrition data. Furthermore, AI may create employee engagement efforts tailored to specific departments, employees at a given level of seniority, and other employee needs.
According to theirsurvey results, the following factorscontribute to effective superteams – · Developing a "culture ofdevelopment, flexibility, and resilience" (45 percent of executives surveyed) · Creating a capableworkforce "through upskilling, reskilling, and mobility" (41 percent of executives surveyed) · "Introducing new technology" (35 percent of executives surveyed).
Conclusion According to research given by ideal., a recruitment automation programme incorporating AI into the recruiting process may save up to 23 hours per hire,cut hiring expensesby up to 75%, and result in a 35% drop in employee turnover and a 20% boost in performance. This is only scraping the surface of AI's real potential. HR will become more data-driven and strategic as more firms integrate AI into their employment processes. For HR professionals eager to keep up with the pace, technological reckoning may usher in a whole new era. The epidemic has driventhe HR industry to adapttraditional practices and expand the implementation of HR technology to take effective responses. As more firms incorporate technology and digitalization into their business operations, the position of human resource professionals is projected to become more data-driven while also taking on more
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Digital transformation has been a significant part of HR even before the pandemic. However, the speedy adoption of recent ways of working, similar to teleworking and hybrid work models,is increasing reliance on efficient and intelligent men management technologies. Computing (AI), advanced analytics, and cloud-based HR systems have pleasantly facilitated HR professionals. It is serving to shift their focus from long body tasks to mission-critical business tasks that have emerged. Perceptive analytics and intelligent technologies change HR leaders to form strategic, intelligent, data-driven selections once hiring, partaking, and holding employees.
Analytics in HR Today's analytics tools are often applied to various time unit activities. For example, analytics can offer the insightrequired to keep workers learningwith dynamical ability requirements. Perceive that recruiting channels are manufacturing the most straightforward candidates. Further, establish high potential employees and support succession designing that extends deep into the organization. Analytics can even give time unit professionals
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example,analysts can search for patternsthat will facilitate firms to improve hiring, cut back attrition, or pinpoint areas wherever labour-related savings can be achieved. Having better insights that facilitate drive performance and retention can significantly impact. The substitution value for an employee who leaves is often as high as three hundred p.c. of the employee's annual compensation. At the top level, the cost of correcting dangerous hiring selections and replacing managers can run into many dollars.
Analytics can even support learning, development, and different activities that closely align with staff's individual needs, permitting time units to supply more personalized choices to employees. Because the Accenture study noted, time units can use analytics to section employees similarly to marketer’s section customers. Every HR be able to regulate people's practices for every sector then. Moreover, with advances in business intelligence and analytics, organizations can currently produce new, a lot of significant patterns of segmentation. Firms can cluster staff by more comprehensive criteria that embody learning styles, worths, personality, wellbeing profiles, mobility, behavioral patterns, and networking and communication styles. By providing deeper insight into force performance, analytics can even facilitate a time unit that demonstrates the business value it creates.
Technology in HR In a perpetually ever-changing world—and a business atmosphere marked by "volatility, uncertainty, quality, and ambiguity"—technology can still play a growing role in a unit of time's success. Already, it is serving a unit of time to take a holistic approach to modify workforce management; finding, developing, and holding the right talent; predicting workforce changes and issues; designing in alignment with company goals; dealing strategically with senior executives. Technology is the gap innew opportunities for HR. It can be an enabler of HR transformation and a driver of immense potency and effectiveness. Professionals usually observe unit of time obtaining a seat at the senior management table— but that is not continually the critical issue. "Most of the time unit of time includes a seat at the table. However, they are not victimization it," notes Accenture's David Gartside. "HR gets to stay the seat at the table once it is the price to add and insights that facilitate the business." Technology helps unit of time deliver those insights.
Workflow Automation: HR professionals usually perform complicated and long body tasks. Reliance on ancient strategies can cause manual errors, suboptimal work, and inflated cycle times. However, HR departments will maximize productivity and bring home the operational bacon efficiencies with intelligent automation. Automation of progress improves the potency and productivity of all business processes, from hiring to firing.
AI-powered Analytics: Some years ago, HR managers barely detected that their staff was disgruntled until it was too late. Nevertheless, HR can currently capture and analyze worker behavior and feedback to realize valuable geographic point insights due to AI-powered analytics and listening platforms. Such tools enable HR professionals to remain connected and engaged in real-time, develop sensible solutions, and predict issues early. It additionally helps them establish the staff presumably to depart a company and notice doable solutions.
Virtual assistants and chatbots: HR spends 50% of his time providing procedural data and respondent equivalent queries repeatedly. With the arrival of virtual assistants and chatbots, HR professionals are free of repetitive tasks. From answering straightforward inquiries to changing HR information and managing schedule reports, chatbots and virtual assistants build HR processes quickly and up to now in several ways. AIpowered chatbots are also being employed to enhance worker expertise by acting with employees and analyzing people's moods in organizations. This enables HR leaders to assist those who would like to actively.
Augmented Reality (AR) and video game (VR): With augmented reality and virtual reality, wearable devices will produce immersive expertise interacting with emotions and feelings. In contrast to ancient methods, VR and area units open the door to innovative and new ways of hiring. This enables candidates to experience the work setting they are near to being a part of and even "return" to the position they need to apply for. This enables HR to grasp if a candidatemay be intelligently suited for the job.
Blockchain technology: though blockchain technology remains in its infancy, it is expected to become a crucial part of HR functions over the next decade. The highsecurity levels related to blockchain technology are ideal for the HR trade as HR leaders will access vast amounts of non-public data concerning their employees. Blockchain technology builds it simple to write in code and record records.
Technology in Recruitment The technology accustomed to support recruiting has evolved a good deal in an exceedingly comparatively short time. There are currently various advanced recruiting tools that the time unit will draw on to optimize and accelerate talent acquisition. These tools usually target serving to time unit build higher use of the wealth of talent knowledge on the market today. Some recruiting solutions provide advanced search, filtering, screening, and assessment capabilities that allow recruiters to quickly sift tHRough large numbers of applications to search out the relative few candidates who are a decent appropriate a position. With recruiting systems integrated into overall talent management systems, the time unit can draw on knowledge regarding highperforming workers to make profiles that allow recruiters to seek candidates with similar traits.
Moreover, with quick access to data about key competencies, post-hiring performance, and retention, the recruiting can have the performance feedback required to stay up with its processes. Today's technology also lets time units enjoy exaggerated target automation in recruiting. Some solutions can alter several critical aspects of recruiting campaigns. Oracle software, for example, uses business intelligence-driven automation to assist time unit professionals to manage recruiting and order and schedule the automated posting of jobs. It also provides comprehensive dashboards and news so that recruiters can keep shut track of these machine-controlled efforts. Such automation is often beneficial once handling the massive workloads and complexities of world talent sourcing. Technology conjointly lets time units alter the end-to-end chase of the recruiting process, capturing data regarding job listings, candidates, and actions taken as candidates move through the process. This will offer additional consistent information and scale back manual effort for recruiters. Furthermore, it can provide the insight and documentation required to confirm compliance with truthful hiring and employment laws. Altogether, the flexibility to automate moreaspects of the recruiting method brings constantly reasonable edges that automation brings to different processes. It eliminates value and time, introduces more significant accuracy, and frees up professionals to pay lesstime on routine tasks and longer on strategic issues.
Cloud Computing in HR Perhaps a lot of important, the cloud can do a lot to create a unit of time more versatile and responsive in support of the business. "As the planet becomes more and more unpredictable, organizations which will adapt to dynamic business conditions will trounce the competition," Accenture way forward for a unit of time researchers note. "HR will reshape itself in order that the operation becomes the crucial driver of light soreness."
Cloud-based unit of time applications can support agility in many ways. For example, the cloudmerchant can refresh technology more frequently than in-house IT staff. With ancient on-premises technology, an application is usually upgraded each 2 to a few years. With the cloud, on the opposite hand, "the merchant might offer threeupdates a year and patches," says Cara Capretta. Moreover, from a unit of time's perspective, "those happen instantaneously, and you do not get to do all the look and work totry to upgrade. That is a giantamendment from the past." In some cloud arrangements, HR will add new functions and applications on an as-needed basis. An organization may need to use solely recruiting tools; however, later need to add compensation or talent-review tools: That is a reasonably easy amendment once a supplier encompasses a comprehensive set of unit of time capabilities. Over time, a unit of time's decisions from a cloud merchant may additionally embrace newer rising technologies due to the vendor being within the business of maintaining with technology Associatein Nursingd in an exact position to weave it into its cloud offerings. Altogether, these factors make it easier for a unit to use technology to drive innovation and reshape itself into an enabler of business agility. On another level, some cloud-based applications are often tailored by HR professionals and business people while not requiring IT specialists. With Oracle's cloud- based offerings, unit of time professionals will regulate the look, feel and behavior of different NGO screens, add new fields, run custom reports, modify daily reports and build new method flows. In short, a unit of time can adapt the technology to dynamic circumstances quickly, without awaiting changes to figure their means through IT—a level of flexibility and independence that's sensible for each unit of time and IT. Today's cloud- computing and SaaS market provide an extensive selection of decisions for HR, and executives can need to explore variousthings to seek out the proper suited their
organizations.
These embrace operational considerations love whether or not the sellerprovides the total variety of applications and servicesrequired by HR and at what cost. Security is also critical: however, will structure knowledge and business processes be unsafe, and can subcontractors be handling data? Similarly, how will the service support legal and money compliance across countries? Moreover, what measures are in situ for disaster recovery and business continuity? It is conjointly necessary to acknowledge that the cloud does not want to be Associate in Nursing's "all or nothing" proposition. Unit of time might want to move ahead gradually —to attempt the cloud approachin a particular region or begin with simply several processes. Some vendors create it attainable to do this andmove ahead incrementally.
In some cases, a unit of time, organizations may want to leverage their investment in on- premise solutions—and here again, some vendors offer approaches that cover and integrate in-house and cloud applications. In short, with today's technology, it is typically possible for a unit of time to settle on its path to the cloud. Finally, the cloud changes the role of a unit of time executives themselves. With the shift off from capitalexpenditures and toward SaaS,a minimum of some of the getting selections shift away from IT and unit of time. "HR becomes less addicted to IT in these technology decisions," says Capretta. "So the unit of time must becomea lot of educated about thecloud—what the advantages are, what it suggests that to
HR's resources, what it means to their budget." That is a massive change—and it .
provides HR more leeway in crucial however it will best facilitate the businesscompete
The way ahead The pandemic has driven the HR industry to alter existing processes and adopt HR technologies widely for effective action. As organizations make technology a progressively necessary part of their business processes, the role of HR is predicted to become data-centric and combat a more strategic role. Technical calculations will cause new opportunities for HR executives who do not need to stay up with the times.
Anish Gupta IIM Rohtak