The rise of artificial intelligence (AI) within the HR sector and its ability to transform the way we interact with candidates and employees is a topic of interest for many businesses.
Recent surveys have revealed the buzz around AI and it’s potential to change HR practices. An IBM survey revealed that almost half of employers believe AI would transform their talent acquisition capabilities as well as transform their payroll and benefits administration.
Businesses are using AI technologies to reduce costs and save time when it comes to their HR – and talent management is an area that AI promises innovation for.
Recruitment is traditionally a labour and time intensive process and can cost your business thousands in recruitment fees and HR salaries when you total all of the time invested in the process.
AI presents a way to streamline a business’s approach to talent management and to bolster their understanding of talent pools and existing teams, helping businesses to find their next employee and nurture them once they’re onboard.
We’ve explored some of the talent management areas that AI is impacting upon, as well as the potential downsides that the AI trend could have upon candidates and employers alike.
1. Automate candidate screening
AI can be used to reduce the time businesses spend finding the right employee by automating the process and providing more rigorous selection methods that filter out unsuitable CVs before a shortlist reaches the hiring manager.
2. Candidate assessment
AI software is changing the candidate assessment stage by combining techniques such as digital video and overlapping this with predicative analysis, thereby allowing the hiring manager to gain a data-driven understanding of the candidate’s suitability.
3. Skills matching
An applicant’s skill-sets, personality traits, and salary preferences can all be determined by an AI enhanced application system. Similarly, AI is also reinventing the traditional personality test and can produce a ‘score’ which candidates can publicise on their CV so that hiring managers can quickly assess their suitability.
4. Reduce human error
Human error is an inevitability of traditional talent management approaches and one that AI is supposedly able to eradicate completely, whilst also speeding up the process of collecting and compiling candidate and employee data.
5. Employee onboarding
Ensuring your new hire is regularly contacted throughout the onboarding process can now be overseen by a bot, meaning that tasks such as document collating through to answering employee questions can all be relived of HR teams and carried out by AI powered virtual assistants.
6. Customise training
Once your new team member is onboard it’s vital that they remain engaged. Businesses are using AI to provide the right training for employees by creating a needs-based learning experience using learning data.
7. Entrenching biases
There are concerns that AI designed to enhance talent management could instead serve to perpetuate established biases within hiring and promotions – a very real concern when you consider that AI is a software which will inevitably be infiltrated by the biases of those who set it up.
8. Lack of humanisation
A lack of human interaction throughout the people management process due to the rise of automation is a concern for many within the HR sector. Nothing can compare to a human touch when it comes to talent management, and so while the transactional elements of the process can be enhanced by AI, businesses will need to work hard not to overlook the importance of human interaction – and hopefully in time come to realise it’s ever growing importance.
If you need any HR advice or guidance, please get in touch.