Robotics and Human Resource Management
Traditional HR processes involve a variety of repetitive, administrative tasks. With the advent of technology in the human resource segment, it has brought a major breakthrough in the industry. Employee training programs have become digital and catered to individual needs. These programs use interactive AI and AR/VR solutions as well as gamified L&D systems to ensure participation. It is also possible now to measure their effectiveness against clear ROIs and goals. With HR Tech, companies are making way for dynamic goal setting, regular performance check-ins, and crowdsourced feedback. This kind of engagement, with data analytics to back it, makes employees feel more engaged and helps retain them. Data-driven decisions around promotions, compensation, training, employee retention, and agile cross-functional team staffing can be taken with the help of HR analytics. Sentiment Analysis based on sentiment data generated through hundreds of interactions between managers and employees is also not unheard of in today’s time.
Conventionally, the HR departments have relied on human judgment in understanding employees and their emotions, motivations, behavior, and complexities. While automation for operational tasks started a long time ago, the new-age technology powered by Artificial Intelligence and Machine Learning is now ready to enable the HR department to make data-driven conclusions in relation to the nuance of human emotions and psychology as well. This technology is changing the ecosystem of the HR world and making it function in a way unimaginable a decade ago. Be it direct roles of learning and development, payroll management, onboarding, employee engagement or outsourced services like employee background screening, HRMS etc., technology has empowered the HR domain like never in the history before.
The global human resource management (HRM) sector is projected to reach $30 billion by 2025. The McKinsey Institute estimates that by this same time the global economic impact of AI will be somewhere between $7 and $13 trillion. With timely investment and right tech education, the HR function will be able to move beyond the mundane to create business efficiency. The successful HR leaders of the future will have a seat at the high table that they can use for a dialogue on the future of work, which is not expected to be linear but adaptive of the great needs of the new generation to grow across industries, verticals and departments. The future of HR holds an amalgam of tech with human capabilities and it’s time for HR leaders to embrace this future to build their own.