How is AI impacting talent management?
From personalizing employee rewards to taking over mundane tasks, here are seven answers to the question, “How is AI impacting talent management?”
- Personalized Employee Rewards
- Rapidly Screen Applicants and More Accurate Job Ads
- Easily Identify Talent Needs
- A Lightning Rod for Lawsuits
- Sifting Through Resumes Just Got Easier
- AI Can Help Reduce Biased Language in Job Postings
- AI Takes Over the Mundane Tasks
Personalized Employee Rewards
One of the ways AI is already having an impact on talent management is through personalized rewards. My employer recently implemented an AI-powered rewards engine that uses historic data to create targeted rewards packages for each team member. This simple innovation has made an astounding impact on employee engagement, as everyone enjoys receiving rewards tailored specifically to their preferences and interests. It’s impressive how quickly this technology can make a splash in the culture of the organization and help motivate employees towards greater success.
Rapidly Screen Applicants and More Accurate Job Ads
Organizations have been having difficulty retaining talent for over a year. The Great Resignation and more contemporary trends like “silent resigning” have shown that traditional methods for attracting exceptional people haven’t always worked in this intensely competitive market. Finding and employing the best employees can be time-consuming, ineffective, and biased, which lengthens the process and will lead to losing qualified applicants.
AI can assist by rapidly screening applicants to find promising prospects, making more accurate job ads that are properly promoted to potential candidates, and providing procedures that try to account for human biases. For instance, the Pymetrics platform uses AI in its candidate assessment tools to gauge genuine skill display, which lowers bias in the selection process.
Easily Identify Talent Needs
When I think about the ways AI is impacting talent management, I’m reminded of the old saying “you can’t teach an old dog new tricks.” It’s true—the way we think about talent management has been around for decades, but it’s hard to change the way you do things when what you’re doing has always worked. AI is changing that.
We’ve seen companies use AI to get rid of repetitive tasks, like creating reports and analyzing data, so that they can focus on higher-level strategic decision-making. This frees up time and resources so that they can focus on the aspects of their organization that require human input and expertise. This includes everything from interviewing candidates and making hiring decisions to managing employee performance.
In my experience, AI is making it easier for companies to understand their talent needs and deliver more effective solutions.
A Lightning Rod for Lawsuits
There has been a great deal of news lately about discriminatory hiring practices that have been blamed on AI – because how can an AI be discriminatory when choosing candidates? There is no doubt that AI has been a major boon in sourcing and vetting prospective talents, but an over-reliance on it has shown itself to be quite a detrimental practice as an AI’s behavior is only as good as the data sets with which it is provided – and data sets often have a great deal of bias that will not reflect well on the company doing the hiring.
Sifting Through Resumes Just Got Easier
Artificial Intelligence (AI) has quickly become an invaluable tool for talent management. One area where AI is making a big impact is in the recruitment process.
AI can help recruiters sift through thousands of applications using natural language processing, machine learning, and automated conversational systems. AI can suggest pre-determined questions to applicants; this helps recruiters assess applicants more efficiently by automatically gathering information beyond what is given on the traditional resume.
Furthermore, AI can provide behavioral insights that allow recruiters to understand candidates’ behavior, values, and potential corporate fit better. AI provides a powerful way for organizations to streamline their recruitment process and gain actionable insights into talent management that are difficult or impossible to obtain through traditional means.
AI Can Help Reduce Biased Language in Job Postings
AI can help eliminate the presence of biased language in job postings and resumes, as well as reduce unconscious bias during the interview process. AI can be used to suggest alternative words that don’t carry a gender or racial connotation, helping create an objective environment for the talent management process. Ultimately, AI can help organizations attract high-quality talent and create a culture of diversity and inclusion.
AI Takes Over the Mundane Tasks
AI can be extremely useful in simplifying mundane but necessary tasks such as account setups and providing real-time feedback. The technology can track tasks, generate responses, and answer questions from new hires.
There are several aspects of onboarding where AI can prove beneficial and more trustworthy, as it minimizes the risk of human error. For example, thanks to NLP, companies can automatically generate contracts, offer letters, and other essential documents for employees. HR would only need to ensure the documents are correctly signed and keep track of the status of the papers.
Other than generating documents, AI can offer other benefits, such as using FAQ chatbots to assist new hires in getting up-to-date with everything in the company quickly. Besides enhancing efficiency, automating onboarding processes improves employee retention, saves cost, eliminates paperwork, and protects sensitive information.
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