HR Strategy for the millennium, which is based on new technology and innovation, where HRBPs are playing a vital role in business growth. New technology is the potential point and enhanced efficiency to empower change in management framework, L&D, and organizational culture. The journey of intelligent HR practice and AI for building, in the future workplace is taking a new turn to reduce business complexities, create a more competitive marketplace, and make our future easier.
The HR experts have started using AI for data for business analytics, to enhance productivity, talent search, talent management, adopt a well-being culture, employee motivation, and align the employee growth map. Learning and development, performance analysis, recruitment, moving from traditional methods to digitalization, innovation, and trying to minimize the workforce cost, and benefit analysis force HRBP to re-align the business realities.
Potential of AI in SHRM:
- Collaboration and Engagement- Employee engagement is a continuous and sensitive step in today’s era. Employee collaboration, motivation for task handling, engagement in priority and nonpriority work, and addressing employees regarding updated new technology are very much essential to compete in a competitive price world. A focused way of working for cost leadership in business requirements, and sequential and logical steps with the help of AI and machine learning may add more effectiveness.
- Digitalization- It is a very essential now to think and use AI by all three generations, who are directly involved in business for efficiency enhancement. Efficiency enhancement can be more focused on by creating more effectiveness among employees and employers. Environment for online training, career building, developing them digitally, modification of traditional structure, is in a gradual way to influence measured aspects of human life and seamlessly immersed in our HR practice.
- Productivity- AI will enhance the productivity in work streams, recruitment process, training and development, big data analysis, data scientists, programs, robotics, IoT and will continue to act as an innovator cum employee engagement process which is an important tool for the future workforce.
- Transformation- AI transforms skill development, adding flavour of timely availability of all functional parameters for business growth at its doorstep. It is the right time to upskill, to have future business sustainability. The differentiation of the workforce in a sustainable way is the growth model for the future workforce.
- Technology- AI Technologies can be HR friendly for the recruitment process, onboarding, keeping engagement high, employee database, parity of compensation, weightage to experience and negotiation of compensation without biasing, tracking systems, minimizing challenges, background checks, and verification of documents from different sources.
- Emotional Intelligence- It also helps to moderate emotional intelligence, automated responses, chatbots for efficient filtering candidates, timely arranging training for the leadership team, skill development, agility, talent search, and its evaluation, skill orientation, voice patterns, motivation, and finally requirement of upskilling after maturity of old skill of employees with giving the solution of change management which helps as a source-detector also by matching profiles.
- Agility and Motivation- Effectively implement AI for future business transformation to amplify the effectiveness and reinvent HR in employee engagement insights for employee sentiments and day-to-day productivity.
- Change management and leadership- AI support would help during change management and take up the issues that may creep up during implementation. AI support in decision making and careful selection is amazing also.
- Revolution- The most significant impact of AI will be on the employment space, where the nature of jobs will change dramatically. New revolutions will undoubtedly have an impact on HR systems for both blue-collar and white-collar jobs.
- Process- AI implementation is more system-based and measures the comparison in providing different learning and reasoning, business-oriented problem-solving, employee perception and demands, and language understanding. Hence understanding different aspects of AI and its swift implementation plays a pivotal role.
- Career Development- Regular training, and professional development to keep growing employees by enhancing skills.
- PMS- Essential requirements for HR are transparent PMS.
- L & D- Developing customer-centric career development can be streamlined by AI. Customer satisfaction by micromanaging their wants and needs can be monitored through AI by arranging different training through E-learning and classrooms.
- Learning Management- AI is largely used for LMS to send notifications, track, enroll, notify deadlines, and select training, which needn’t require any further monitoring.
- Business Analytics- HR professionals who use AI to capitalize on relevant data and automate the appropriate process to solve problems.
- Intelligent Teamwork- Building and empowering HR, AI is the key to harnessing and leveraging scalability by creating points of differentiation in the digital world.
- AI Online and Timely Delivery- Though implementation and effectiveness might take time, the result would be techno-savvy, user-friendly, customized, and business-oriented.
- Skill Developments- AI can synchronize with existing facilities to merge with the government’s skill development programs like MAKE IN INDIA, STAND UP INDIA, etc. which directly and indirectly improves business EBITDA and CAGR.
- Scheduling and Forecasting- AI helps to make the tasks easier, meetings, seminars, conferences, and events by combining different data sources and might be used as a personal assistant. It also helps to find, recruit, and retain employees, which is an overall credit for the HR function.
- CSR & Sustainability- Measure focus by government, which is possible by the HR value induction through AI by passion and seamlessness with speed.
Implementation of new technology always has unique flaws like increase in CAPEX, unconscious biases, technical errors, overlooking, and effective communication however, keeping future growth intact and sustainable, the implementation of AI is treated as a business growth model. The swift and gradual adoption of AI implementation for the future workforce is quite inspiring and impressive for the millennium to sustain business in the competitive cost competition.