The last couple of years have seen a constant buzz in HR circles on the impact of technology. Discussions center around ‘will technology take jobs away’, are there ways to reduce unconscious bias’, Is there a better way to get real-time feedback from employees’, can talent analytics bring business value’ and so on. There is a lot of interest in what technology can offer in the near future, so let’s crystal gaze and look at new technology innovations that are going to change the face of HR.
Talent Analytics: It has become a business imperative for C-Suite executives to make continuous efforts to understand the workforce in greater depth. It helps them to recruit, develop and retain the best talent more and more efficiently.
Leveraging talent analytics technologies will help Organizations do much more than tracking fundamental performance indicators. Talent analytics can be leveraged to identify high potential employees, predict employee turnover, support the succession planning, and eliminate unconscious bias while selecting talent.
Artificial Intelligence: A significant number of jobs will be replaced by AI technology. Studies show that almost every other thing professionals do on an average workday can already be automated by AI. BBC has predicted that nearly half of the most commonly held careers are above a 50 percent risk of automation before 2035! Examples include helpdesks, Personal assistants (schedule appointments, reminders), Resume shortlisting and many more.
Blockchain: Many of you would have heard/read about Bitcoin, the digital currency developed in 2009 by Satoshi Nakamoto. It’s a complex design built on Blockchain. Essentially, Blockchain is a distributed database which facilities the creation and transfer of digital records without third party intervention.
A typical use case in HR is that of a comprehensive ‘employment transcript’. In a world where the average tenure of employees continues to shrink, there is no single source that consolidates information about an employee. Information of an employee’s work history, roles handled, performance, compensation and trajectory, etc. that can be accessed by multiple stakeholders in the employment chain can be very valuable in employee verification, role fitment and succession planning.
Chatbots: Chatbots can perform specific tasks for you based on voice or text-based interaction. The concept is not new, they’ve been around for many years, however, improvements in machine learning and natural language capability have transformed these tools, making interaction with a Chabot seem decisively human-like and capable of performing complex tasks on your behalf.
Chatbots in the HR space have already emerged in the market and some of the current ones perform simple tasks such as helping employees get their leave balance or payslip enquiries via an e-mail request. Employee feedback is another area where Chatbots are being deployed. Imagine a system that can randomly gather feedback from employees on a daily basis without affecting their work schedule and provide you with real-time analytics and insights!
Augmented Reality: The increased use of devices/ wearable will help provide information tailored to the context and space in which an employee works. The information can appear as visual or audio supplements that help an individual more efficiently undertake a task. PCs, mobile phones, and tablets all are active platforms for AR, but smartglasses, and their hands-free use, will drive the next wave for AR.
Examples include mobile phone apps that will track an employee’s training and direct him/her to materials tailored to their style of learning. Imagine a scenario where an employee points his/her phone at a poster (say a new employee policy) and it takes them to a video, an online training course, or a book that could offer more in-depth information on the topic.
Virtual reality: Virtual Reality in HR holds the potential to transform the future of work. Virtual reality is the computer-generated simulation of three-dimensional images, giving users a immersive and realistic experience that connects at a deep sensory and cognitive level.
VR can be a great tool for screening candidates on skills needed for a position because recruiters can use VR to remotely assess a candidate's set of skills using work simulation tests. It can also be used in Onboarding of employees where candidates can understand the environment, and the types of people they'd be working with. They can see what a typical day would be like and virtually meet potential colleagues.
Why these developments are significant: Preliminary findings from a state-of-the-art study by Patrick Wright and Lee Dyer of Cornell University suggest that the effect of technology on human resources will, like so many other professions, be profound. The key words to keep in mind are “faster, better, smarter.” Tomorrow’s technology will require HR professionals to stop thinking in terms of months and years and start thinking in terms of weeks and days. This will require a change in mindset from being a strategic partner within an organization to being a change agent.
“We can’t do HR the traditional way. We have to blow it up and entirely reinvent the way we do HR” - Scott Pitasky, director of strategic growth for Amazon.com