18 Apr HR, Global Mobilty Are Turning to AI for Talent Management
Human resources (HR) and global mobility functions in companies of all sizes are increasingly turning to artificial intelligence (AI) for workplace and talent management. In fact, 40% of HR functions around the world are now using AI-augmented applications, with companies in the United States leading the way but with a growing number of European and Asian organizations following suit.
The value of AI in supporting workforce management is becoming increasingly clear, and global businesses are starting to take notice. For example, a PricewaterhouseCoopers survey found that more and more companies are using AI to optimize their organizations for adaptability and learning, integrating insights from employee feedback and technology. California Corporate Housing also uses AI now.
Similarly, a recent IBM report showed that chief HR officers recognize the potential for enhancing decision making in HR operations, including talent acquisition and development. People analytics, which involve the use of big data and digital tools to measure, report, and understand employee performance, aspects of workforce planning, talent management, and operational management, are becoming increasingly popular across all sectors and organizations.
Trend is driven by ‘people problems’
This trend is driven in part by the need to address “people problems” or “people risks,” which involve talent management, health and safety, employee ethics, diversity and equality, employee relations, business continuity, and reputational risk.
People analytics are seen as a solution to these issues, allowing organizations to gain insights into their workforce and make more informed decisions about recruitment, worker appraisals and promotion, identifying potential turnover risks, and selecting future leaders.
In terms of human capital management, people analytics are used for recruitment and talent prediction. This involves using individualized data about people to help HR professionals make decisions about who to hire, as well as identifying potential future leaders. Performance management with the use of people analytics is also becoming increasingly popular, allowing organizations to track and analyze employee performance in real-time and make data-driven decisions about training, development, and promotions.
Despite some concerns about the use of “black box” prediction algorithms and the potential for bias in people analytics, the trend towards using AI and data-driven decision-making in HR is expected to continue to grow. Ultimately, people analytics are seen as a key tool in helping organizations better understand their workforce and make more informed decisions that benefit both employees and the business as a whole.
Augment, not replace, human work
It is important to consider its impact on human workers. According to a Deloitte report, AI is expected to augment human work, rather than replace it entirely. This means that AI will work alongside humans to improve productivity and efficiency in the workplace. However, the report also suggests that the adoption of AI may lead to job displacement in certain industries. It is important for employers to consider the ethical implications of AI and ensure that their workers are prepared for the changing nature of work.
One area where AI is making a significant impact is in talent recruitment and retention. AI-powered recruitment tools are being used to streamline the hiring process and improve candidate screening. These tools can analyze resumes and social media profiles to identify the most qualified candidates, saving recruiters time and resources.
Additionally, AI can be used to monitor employee satisfaction and identify potential areas for improvement. This can help employers to retain their top talent and improve overall workplace productivity.
Another area where AI is changing the workplace is in employee training and development. AI-powered tools can provide personalized learning experiences for employees, allowing them to develop new skills and improve their job performance. These tools can also help employers to identify skills gaps within their workforce and develop targeted training programs to address those gaps.
However, there are also concerns about the impact of AI on job security and the potential for AI to be used to monitor and control workers. As AI becomes more prevalent in the workplace, it is important for employers to prioritize the ethical implications of AI and ensure that their workers are prepared for the changing nature of work.
Employees need training on AI
In addition to ethical considerations, there are also legal implications to consider when implementing AI in the workplace. Employers must ensure that their use of AI is in compliance with privacy and data protection regulations. Additionally, AI must be designed in a way that is fair and unbiased, and does not perpetuate existing inequalities in the workplace. Global mobility specialists should look into this carefully.
One solution to mitigate these concerns is to involve workers in the implementation of AI in the workplace. This can help ensure that the technology is used in a fair and ethical manner, and that employees are not unfairly impacted by its implementation. Additionally, businesses should provide training to employees on how to work with AI and how to protect their privacy and data security.
Another way to address the impact of AI on workers is to invest in reskilling and upskilling programs. This can help employees develop new skills that are in demand in the new AI-powered economy, allowing them to adapt to the changing job market and avoid job displacement.
Yes, AI has the potential to revolutionize the workplace and make businesses more productive and efficient, but it is essential to consider its impact on workers. Businesses must take steps to ensure that AI is implemented in a fair and ethical manner, and that workers are not unfairly impacted by its implementation.