hrtechoutlook

Smart HR Management: How Bright is the Future?

By HR Tech Outlook | Thursday, November 08, 2018

With advances in the digital era, right talent and ideas to approach the particular problem is given key importance and helps in the overall growth of a company.  The employee experience becomes paramount to survive in this fiercely competitive world. Product design thinking has enabled organizations to improve experience of employees. The top-earning companies will be facilitated with the financial advantage to retrieve or recruit top talents. But during this process, it is necessary to analyze an employee’s background and his expertise before recruiting into the team. Thus, organizations should rethink the way they hire people, engage them, reward them and search for an effective way to lead their workforces.

At present, leadership is a critical perspective of an organization which controls the overall workflow of the system. The traditional methods are dependent on the formal hierarchical-based structure and manual process for selection of the right candidate with leadership qualities. But through digitization and artificial intelligence, the productivity of an individual will be keenly monitored to enable individuals to initiate leadership. This case study was initially analyzed by Oxford Economics and William Tower Watson. They showcased that agile thinking, digital and global operating skills will be essential in interpreting the leadership of a person.

In the traditional system, HR professionals follow pay for performance and provide incentives based on the previous year’s company performance. But, AI and changing business models have led HR to pay as per the designated role and basis f individual performance. Automatic performance rating will be provided to the individual on a monthly basis to evaluate the performance of an individual.

Recruitments done through cognitive analysis and blockchain technology, which comprises of natural language processing, predictive analysis, and deep reinforcement learning, helps an organization to match candidates to jobs from their fit score, relative carrier experience, and skills. AI and predictive analytics help HR to effectively identify, recruit, and retain the right candidate.

The world is still in the early phase of the industrial revolution, where chatbots and virtual assistants take up day-to-day activities of human beings and can be expected to be leveraged in the workplace as well. In the future, integrating virtual reality along with augmented reality and artificial intelligence will help in designating the appropriate employee and reducing the errors which may be causes due to human management.

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