How do you perceive today’s HR technology space?
The world of HR does not function the way it used to, couple of years back. HR is no longer looked upon as a custodian of records pertaining to employees but plays an important strategic role in helping organisations achieve their vision. Technology has played a huge role in this transformation. Today, HR has cutting-edge technology at their disposal, particularly emerging technologies like AI, ML, Blockchain which enables them to take disruptive decisions for the organisations.
Emerging technologies like AI have the potential to change our lives. It is all about how the organisations want to adopt these technologies to positively manage their HR needs. In HR, the underlying capabilities of AI are enabling a more intuitive and engaging experience for the employees. Imagine a user interface for employees that collates broad data about what’s most important to each employee and serves up relevant company news and task updates based on that information. Employees can get a personalised snapshot of everything they need to know. At the same time, AI could leverage that same data to provide tailored training and development recommendations based on each individual employee’s performance objectives and noted challenges.
Even AI-based chatbots enabling quicker customer service on social media can also be used within the office environment to answer routine HR questions – about company policy, leave days remaining and so on – so that everyone can save time looking up these details and spend more time getting deeply engaged with the work they’ve been hired to do.
What is and will be the impact of this fusion (HR+Tech) across the recruitment industry?
Today, CHROs are struggling to find the right people. In multiple studies over the last few years, we have seen recruiting the right workforce as the number one challenge for talent leaders. The way companies are acquiring talent has also been changing. From an employer-centric approach, there has been a big shift to a candidate-centric approach. Social networking sites such as Facebook and a professional networking website like LinkedIn are some of the most powerful tools available to recruiters today. As usage continues to skyrocket, more businesses are recognising the fact that high-quality candidates can be reached faster and at lower cost using social networks than traditional recruiting methods. Social networks can give recruiters a competitive edge in locating and engaging the best candidates available to reach your company’s recruiting objectives.
With the race for good talent getting more competitive, companies need to showcase their value constantly, keep prospective candidates aware of themselves always, and sell them their opportunities and benefits. Companies will also have to proactively find candidates on a regular basis, so that they are able to fuel their talent pipeline. Multi-channel sourcing powered by digital recruiting and social sourcing is becoming the norm. While the focus for companies continues to be to find the best talent while keeping hiring costs down. Additionally, once the right candidate is hired, it is necessary to empower new candidates and make sure they have everything they need to hit the ground running.
A cloud-based talent acquisition can deliver automated and streamlined processes to help even the most complex multinational organisations source, select, and hire top talent. It can also offer unprecedented insight into the success of recruiting staff and strategies, so you can continuously boost talent acquisition efficiency and effectiveness. A company may recognise the potential for social recruiting or may already be using the tools, but a social recruiting strategy needs to be part of the company’s overall goals and objectives to deliver true return on investment (ROI).
How technologies like AI, VR and AR will change the future of recruitment industry?
Enterprise technology inspired by social media, with AI at its core, will be particularly key to winning over high-value and millennial talent. The younger generation of workers are in ever-increasing demand across diverse industries. In a world where social media makes our lives more fun and simpler at every turn, the digital generation won’t stick around an office that can’t make every day processes quick, easy and intuitive as logging on to their favourite social network.
Going by the current trends, one thing is certain that AI and social media experience will continue to impact HR technology. According to a HR Magazine, 76% of recruiters in Asia Pacific already say that using AI as a sourcing tool generates higher-quality candidates. Employee experience is the key for organisations across sectors in Asia Pacific in order to achieve the same, the integration of HR and emerging technologies like AI will drive the future of employee experience and help in finding newer ways to attract and retain talent.