By Mainak Maheshwari
The last few years have been marked by unprecedented change, and if the rapid emergence and adoption of new technology is anything to go by, the world of work, as we know it, is going to continue to change at a relentless pace. For the HR industry, the rise of AI and the Metaverse has been one of the core focus areas. Especially with the recent buzz created by Chat GPT/GPT-4, the importance of AI adoption and integration in the everyday operations of HR has come to the fore. And with ample reasons! Globally, several tech-enabled innovations and solutions have been implemented by HR leaders and teams, leading to great benefits in enhancing employee experiences and talent management, improving operational efficiency, and driving greater holistic value.
How are these ever-evolving technologies mingling with the HR industry and empowering them?
AI-based tools are enabling HR teams to create stronger, simpler, and more efficient hiring practices and processes. AI tools are helping organizations source and shortlist the right candidates from a larger pool of talent. Data-driven hiring is not only more accurate but also saves HR managers time, effort, and cost. With the adoption of AI-based tools, HR teams are able to better administer the right set of technical and functional assessments, which can reflect the capabilities required for a specific role, reduce potential bias, and provide a more accurate assessment of the candidates, thereby improving the quality of hires. Many organizations have adopted tools that allow them to predict and assess a candidate’s behavioral skills through video interviews. Investing in such meaningful tech tools improves the overall search and hiring process, and empowers talent teams to focus on creating richer candidate experiences.
- Enhanced candidate interaction
Metaverse and AI innovation are making strides in enhancing a candidate’s experience during the hiring process. Think of intelligent chatbots and communication tools that spur more interactivity. But that’s not all. Now, organizations can establish their presence in the Metaverse, giving potential employees access to a more detailed understanding of how the organization functions, something that was missing from hiring processes before. This is not only useful when hiring from a global/remote talent pool but also in building a stronger employer brand by boosting engagement from the very beginning. Even during the onboarding process, the Metaverse can serve as an important engagement tool. Especially in hybrid and remote workplaces, the Metaverse can break the barriers of distance by helping employees interact, join communities, and experience the company’s culture without being physically present.
- Improving employee engagement
Managing a remote/hybrid workforce comes with its own challenges. In such cases, leveraging the Metaverse and using AI-based tools can be blessings for the HR function. From building a sense of belonging through communities to increasing collaboration, the Metaverse enables HR teams to keep their remote workforce engaged in new and powerful ways. AI-based tools can be used to take proactive steps to keep a check on employee well-being, for example, and also reduce any sense of ambiguity that often accompanies virtual work.
- Stronger learning & development
Given the current global business environment and economic headwinds, employee skill development has been at the center of many HR conversations. Fortunately, HR teams can address the skill gap challenge effectively with the help of technology and a commitment to employee development. AI-powered tools can help create learning experiences that are interactive, unique, and focused on individual learning and professional goals while also aligning with overall business objectives. Imagine creating a metaverse that provides an immersive learning experience by gamifying and incentivizing the whole process. The best part is that you don’t have to because such initiatives are now a reality and are assisting employees to strengthen their existing skill sets and arming them with new competencies that further benefit the organization.
- HR analytics and decision-making
Data analytics has made it possible to capture, assess, and extract insights from sophisticated data and drive more accurate decision-making. Advanced analytics plays a pivotal role in analyzing the productivity of HR while enabling them to better manage employee performance, boost engagement, and implement initiatives focused on improving overall employee well-being. By leveraging AI to collect and analyze data, HR leaders can make more informed decisions, improve workforce processes, create better employee experiences, and most importantly, take on a more strategic role that influences crucial business decisions aimed at achieving greater organizational success.
While AI, Analytics, and the Metaverse are all exciting new technologies that businesses and HR leaders should be open to embracing, they must also take the time to analyze and consider how to best leverage them for long-term success.
The author is Director, Talent Advisory, PeopleAsset
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