By FintechNews staff
AI has already transformed the way workers are recruited, hired, trained, evaluated, and even fired. One recent study found that 83% of human resources leaders rely in some form on technology in employment decision-making.
Understanding Employee Skill Set: AI allows HR departments to improve employee experiences by automating repetitive, low-value tasks and freeing up time to focus on the strategic, creative work that HR teams require. Rather than spending time supervising every step of the new employee onboarding process, those steps can be intelligently automated.
AI allows HR teams to analyze the performance of their employees and predict what they need. AI solutions can report on the performance and accomplishments of different employees, something that helps in understanding their (employees) skill set.
In addition, employers can use AI systems to develop reward systems based on their employees’ performance and even predict those employees that are most likely to resign.
–Provide Feedback to Employees: These systems can evaluate the performance of different employees then create reports on how they compare with their peers.
This way, the AI systems can assess their strengths and suggest the areas that the employees need to improve. This improves the ability to provide feedback to the employees.
–Identify Patterns in Attrition Rates: The attrition rate of a business can be defined as the rate at which employees leave the business. A high rate of attrition should be a cause for concern for any business. Identifying these patterns makes it easy for HR professionals to interrogate what could be wrong and take the right measures towards correcting the issues.
Boosting Learning Programs: The future of learning and development departments using AI will increase tremendously over the next years. These departments will be expected to create agile and adaptable learning programs that are able to meet the individual needs of employees.
Leveraging Workforce Data: HR teams can use AI to leverage transactional workforce data to predict employee potential, fatigue, flight risk and even overall engagement, ultimately enabling more productive conversations to improve the employee experience, retention and performance. Easy surveys, employee feedback tools & analytics platforms are the technological resources accessible to HR managers today.
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