Artificial Intelligence (AI) and Machine Learning in HR are becoming increasingly popular in today’s workforce. It’s important to understand how this technology can improve your business as you continue to grow in the future, and how AI will shape the future overall. Jack Berkowitz, Vice President of Products and Data Science and part of the Oracle Adaptive Intelligent Apps Product team, spoke about how Artificial Intelligence can help HR professionals, in particular, improve decision making, drive greater effectiveness and efficiency, and put the “human” back into Human Resources. He and his team work to show customers the impact of AI on HR and how they can leverage AI applications to transform their business.
Adaptive Intelligent Apps within HCM Cloud can help businesses hire, engage, work, and adapt smarter. These four components will help HR departments become more effective and efficient, and HR will have more time to focus on the growth and engagement of their employees.
- Hire Smarter: Intelligently hire top talent quickly and efficiently
- Work Smarter: Intelligently automate routine tasks and ensure compliance
- Engage Smarter: Intelligently develop employees for optimal career growth
- Adapt Smarter: Intelligently optimize processes to meet organizational goals
If you can do these things smarter, you can have a big impact on your business that brings several benefits to your organization. Let’s break these four components down and look at an example of the journey from an applicant to an employee and how the business’ choices to hire, work, engage and adapt smarter with the help of AI and Oracle HCM Cloud can help retain and grow that employee.
Use AI to Hire Smarter
Hiring smarter involves finding the best-fit candidates for available jobs within your company, personalizing and targeting job recommendations, and optimizing and personalizing the interview process. You might get hundreds of applications for a single job opening. Wouldn’t it be nice to know which are the top 10 most qualified without having to sort through them all by hand?
With Oracle HCM Cloud and AI Applications, your system can look at resumes, job descriptions, and the job performance of similar people in similar jobs to determine which applicants would be the best fit for a job opening. Optimizing candidate matches in the way will not only help you find the most qualified candidates, but also the candidates that show promise of longevity within your company.
Working in this way and using AI for hiring and recruitment helps you reduce time to fill and improve the overall pipeline quality within your organization. Your system can help you predict and select qualified employees with the highest likelihood to succeed. The system can also show you similar employees and show open job descriptions that an employee might match well with. Being more precise in your candidate search can help you find employees that will thrive and continue to grow for years to come.
Use AI to Work Smarter
There are a few different ways that you can start working smarter. If you’re a CIO or another high level executive having a guide new technology like AI, automation, and robotics is especially important. If you take action like automating approvals and cumbersome data-input processes but set up alerts to anomalies, you can work smarter. For example, let’s go back to Guy, the candidate for the Lead QA position in your company. Once you decide that you’re ready to extend a job offer to him, your system can provide suggestions for compensation and the optimal package to offer him. You have to find a way to combine salary, benefits and vacation time, and now your system can show you a good offer, a better offer and the best offer. It’s up to you to choose which package you offer. The “best” offer might be what gets an employee in the door but not always keeps them around for years to come. That’s for you to decide.
What’s happening is that your system is giving you proactive advice that packages timely, accurate and compliant offers. It creates these packages based on similar employee profiles, offers, acceptance rates, and third-party employee market data. It is able to predict tenure and likelihood of acceptance based on the role, title and career stage. One benefit is that the system continuously learns and optimized for best acceptance rates and predicted tenure.
Use AI to Engage Smarter
Engaging your employees can start right away from day one through engaging, personalized onboarding. From there, you can engage them throughout their career through career planning, learning paths and mentoring that can maintain employee health and foster growth.
Going back to the example, Guy is now an employee at your organization, and he’s been with you for a few years now. However, over the years that Guy has been with your company, he has never received a raise, even though he has been performing well. Your system will send you an alert about these kinds of scenarios, where things are abnormal and employees may not be satisfied. It can also recommend actions that you might want to take like a salary increase, special training, or an invitation to an event that can help you engage with that employee.
These recommendations will be based on other situations where suggestions have worked for employees with similar profiles. The suggested actions are meant to incentivize the employee to engage with the company in hopes of retaining them as an employee. Essentially, it is a mix of customer experience with employee experience. Suggestions can also be made to the employee to help him foster his own career as well. The impact of AI on HR in regards to improving employee engagement and retention are clear.
An additional technology that can help engage your employees is Chatbots. They serve as a simple, fast way for employees to get instant communication and interactions with their employer. They can quickly get information about company policies regarding topics like health benefits, time off, salary and more.
Use AI to Adapt Smarter
Adapting smarter involves intelligent resourcing, scheduling and salary budgeting in ways that can help you optimize resources going toward your organization’s strategic goals. These methods can be helpful if you need on-demand workers. You’ll be able to easily keep track of their scheduling and hours. It’s helpful to be able to easily bring the employee in and out. There are workers who have young children, family members that require care, and workers that have specialized skills that are needed in specific time frames. By using AI for planning and scheduling, you can work with employees with flexible schedules like this in a more organized and efficient way. The impact of AI on HR is significant and learning how to leverage artificial intelligence will empower you to truly transform your business.
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