The Future of HR Technologies

Joydev shows his gratitude towards the cutting-edge technologies that are likely to emerge as relevant tools for modern-day HRs. An exclusive for Different Truths.

The global pandemic caused by the Novel Coronavirus or Covid-19 has disrupted the global economy with an extensive impact on almost all the sectors. The human resource sector is no exception. Gone are the days when HRs had to meet the candidates in person to take forward the interview process. Also, the concept of ‘face-to-face interview’ is diminishing gradually. With other working professionals, HR managers are also forced to work remotely amid the Coronavirus crisis. The complete hiring process, viz. communicating with candidates, conducting interviews, and on-boarding, everything has gone digital as working from home emerges as the new normal. The nextgen HR technologies have made these long yet interesting process a possible one for the HRs.

Gone are the days when HRs had to meet the candidates in person to take forward the interview process. Also, the concept of ‘face-to-face interview’ is diminishing gradually. With other working professionals, HR managers are also forced to work remotely amid the Coronavirus crisis

Data Analytics

The ongoing Covid-19 crisis has highly highlighted the relevance of digital collaboration among different departments of the organization. Be it the collaboration between the Marketing and Sales department or between the HR and Finance departments. The HR department needs to work in tandem with the Finance department as the workforce expenditure is one of the significant expenditures for the company. Most firms are suffering from the liquidity crunch during the lockdown. In such a scenario, Data Analytics help in making a data-backed informed decision for managing and retaining the workforce. It helps in exploring relationships between goals and the outcomes, and improvement of productivity that impacts the business to a great extent. By automating certain tasks, it frees the employees from outmoded tasks and focuses on their core functions.

Artificial Intelligence

AI can scan through the online resumes and social media profiles hence end up identifying the right match for the post. It also removes human biases during the screening process and fosters the gender-neutral workforce. AI-backed recruiter chatbots can serve candidates with their queries 24/7 on the career section of the company’s website.

Artificial Intelligence (AI) is expected to play a dominant role in the days to come. With the digital mode of communication replacing face-to-face interaction, AI is showing the way forward in the hiring process. AI can scan through the online resumes and social media profiles hence end up identifying the right match for the post. It also removes human biases during the screening process and fosters the gender-neutral workforce. AI-backed recruiter chatbots can serve candidates with their queries 24/7 on the career section of the company’s website. Among others, they can record the grievances of candidates as well as employees, apprise the candidate on steps of recruitment, and provide links to job descriptions.

Machine Learning 

Machine Learning has an indispensable role to play when it comes to HR functions. Successful implementation of Machine Learning not only helps in screening

candidates during the hiring process but can also gauge the mood of an interviewee during the video-based interview process and get an idea of whether the candidate is being truthful on his credentials or not. ML-powered chatbots help candidates as well as HRs for conducting a smooth on-boarding process. ML, with its ground-breaking features, fills the ‘personalization’ aspect of the hiring process. ML can also take feedback from existing employees and identify key themes to improve the overall experience.

Blockchain Technology 

After revolutionising the fintech and insurance sectors, Blockchain technology, with its immense and untapped potential is penetrating the HR domain too. With a majority of the workforce working from home, some companies are focusing on the upskilling of their employees to utilize the time saved in commuting. Blockchain technology can improve the training and development function by verifying the educational background, skills, and performance of employees. Besides automating the routine tasks, it can also regulate financial transactions such as tax liabilities and crossborder payments to increase productivity.

Blockchain technology can improve the training and development function by verifying the educational background, skills, and performance of employees. Besides automating the routine tasks, it can also regulate financial transactions such as tax liabilities and cross-border payments to increase productivity. 

The above examples give a glimpse of how technology will change the complete scenario of hiring and will usher a new dawn for the HR-tech sector.

Photos from the Internet