AI is changing every aspect of our lives and work environment, and artificial Intelligence in the HR industry has transformed HR’s contribution to an organization’s competitive advantage.
More and more companies with HR departments seek to automate, optimize, and improve their HR operations to remain competitive. Artificial intelligence solutions can help HR generate value, making it more efficient and effective.
In a survey led by IBM, 66% of company CEOs said that AI was crucial in driving higher value in Human Resource Management.
By using Artificial Intelligence in HR, companies and HR Managers intend to improve employee retention, performance, and productivity.
With the help of Artificial Intelligence in the HR industry, HR departments can:
- automate existing manual processes
- reduce human error
- enhance candidate and employee experience
By processing a massive amount of data quickly and accurately, AI can revolutionize employee experiences in various ways, from recruiting to talent management. Contrary to what people may think, it has the power to enhance human contact in HR.
With hybrid work models and a greater emphasis on diversity and inclusion, HR professionals need to rely on new platforms and technologies to keep up with the evolving workplace.
What exactly is AI in HR?
AI refers to any simulation of human Intelligence in machines. Programmed to mimic human actions machines and any application of software that exhibits human traits is Artificial Intelligence.
Integrating AI in Human Resources departments helps organizations work efficiently and smoothly. HR teams can make better decisions, develop more effective workflows, eliminate human error, eliminate potential biases, and boost productivity within their organization.
Here are ways AI is benefiting the HR industry.
HR Departments Are Using AI To Screen Candidates For Recruiting
Artificial Intelligence (AI) allows HR people to automate repetitive tasks by recruiting and onboarding new employees.
With the Automation of AI, HR departments are saving time and energy with minimal or no errors.
According to a recent Harris Interactive and Eightfold.ai report, AI adopters are 19% more effective in reducing the time HR spends on administrative tasks.
Instead of hiring employees, organizations can boost their HR department’s staff productivity with Artificial Intelligence. It is helping businesses restructure their staffing plans to create more successful hiring practices and model their future workforce.
Better Talent Acquisition With AI In HR
Candidate sourcing, candidate screening, and the interviewing process are all time-consuming processes.
A study found that AI adopters are 13% more efficient in reducing candidate screening times and 16% more effective in turning talent acquisition into a competitive advantage.
AI can sift through hundreds of CVs in significantly less time than it would take a human. It can quickly analyze a candidate’s skills and compare them to those of the best-performing employees in the same position. It can also filter through a database of previous applicants to potentially find an adequate candidate for a new job vacancy.
More importantly, it eliminates human bias. Since AI is a machine, it isn’t biased, focusing only on data-driven assessments, creating an inclusive and diverse workplace.
With AI, Employee Onboarding Is Faster And More Personalized
Research conducted by Brandon Hall Group found that organizations with a robust onboarding process improved new hire retention by a staggering 82 percent and productivity by 70 percent.
And what can significantly improve the onboarding process? Artificial Intelligence. AI can provide new hires with everything they need, like important contacts, training suggestions, essential information regarding benefits, policies, and anything else they may need for a great experience. Personalized experiences help new hires to adjust quickly to their new workplace and understand what they need to do.
Artificial Intelligence can streamline and automate a lot of the work by:
- Automatically verifying employment documentation
- Managing employee requests for hardware or account access
- Answer FAQs at critical points in the process
- Deliver essential company policies and procedures
- Inform new hires about the team they will be joining or specific tasks assigned to them
What employee doesn’t want a satisfying onboarding experience? New employees will be more likely to stay when they have a great onboarding experience with the company.
The Future Of AI In HR Is Looking Bright
AI constantly collects and analyzes crucial data helping HR professionals perform better at their job. Artificial Intelligence improves internal processes and enhances various HR activities, like data processing, recruitment, onboarding, assessment, mentorship, and talent management. There are enough benefits to give businesses reasons to jump on the AI bandwagon to help redefine their HR departments’ operations.
AI is influential in HR because it helps:
• Solve business challenges
• Attract and develop new skills
• Improve employee experiences
• Provide analytical decision support
• Make more efficient use of HR budgets
AI technology is helping us shape the HR ecosystem. It is improving the company’s efficiency and business growth, bringing more talented, skilled, and suitable candidates, while helping existing employees grow within the organization.
Organizations should adopt AI solutions to match the complex business environment while meeting their business’s needs and being compatible with your company’s culture. Contact our expert team at visionAI to request a demo or more information.