5 Ways Machine Learning Is Reinventing HR Practices
Lately, many managers have been experiencing a large shift while some also have been through a big dilemma concerning the intervention into their businesses. No doubt, there are significant changes that these bring about to the functioning of the organization and paving the way for betterment. And among these, Machine Learning is a concept that’s emerging, and apart from the boons that it has filled the companies with, it is sure to bring so much more.
A Brief Introduction On Machine Learning
Basically, Machine Learning is defined as “the practice of using algorithms to parse data, learn from it, and then make a determination or prediction about something in the world,” – according to Nvidia. The ultimate aim of machine learning is to accept and engage in new technologies that promote easy decision making. They basically learn, recognize the patterns, leading to better decisions with hardly any human intervention.
And in short, the whole idea of Machine Learning is to enable computers to perform the way humans would in any case, and ideally to eradicate the errors that could appear when performed manually. And, if analyzed today, Machine Learning has found its scope in almost all the fields such as education, medicines, health, social media, communication, manufacturing as well as service industries, etc.
The Ways Machine Learning Is Reinventing Human Resource Practices
As discussed, there exists a growing trend to automate almost all kinds of jobs. When we talk of machine Learning concerning HR automation, the first question that arises – “Is it possible?” One of the main reasons for human resource managers to adopt ML is the size of the data that makes it too challenging to compose for accurate derivations. This limitation is overcome by the algorithms of machine learning.
Let us further discuss the ways Machine Learning is reinventing human resource management.
Enables Quality And Time Saving Recruitment Process
As we are very clearly aware of the strife that prevails among the companies for the best talents, human resource managers are pressured to meet the challenges of recruiting the best candidates. The filtering, screening, and shortlisting of the candidates sound much more effortless than said.
However, with the technology’s advancements, there has been a vast difference in the perception of the tasks involved in recruitment. Machine Learning has revived the processes of HR interviews to determine the competence and the proficiency of the candidate that were time-consuming. ML is based on pre-configured answers that assist in determining the interest of the candidate for the current opening position.
Machine Learning can ask the needed and essential questions related to the fundamental analysis, that which helps in shortlisting for the other stages of the interview. Apart from this, it can also analyze the videos (in case the interviews are conducted on a video conference) to judge the behaviour on specific precedents, such as the expression of the face, posture, the clarity of the voice, etc. With such significant aspects, ML has made it possible to measure the attitude, willingness, etc.
Thus, when appropriately employed, Machine Learning tech predicts but sure enough to make the right predictions for your organization. The p[rocess could have never been this streamlined. It is sure to eliminate the errors, especially eradicates the biases that may result as a hindrance to recruiting a suitable candidate to improve the quality of the recruitment.
Reduction In Staff Turnover And Attrition
Earlier, we discussed how important it is to hire the right candidates and improve the quality of recruitment. But then, are we done once the employees are recruited? Is it not important to make sure that the retention of those employees is managed? As much as hiring the best candidates is vital for any organization, so is the retention of the employees.
The assistance of Machine Learning can be witnessed in the retention, also similar to its aid in recruitment. In order to ensure retention, it is essential to find the reason for the attrition, and if possible, to predict and understand so as to take the necessary steps to identify the right solution. In regard to this, the ML helps by providing value-filled insights that enable the human resource manager to handle the cases with more discernment and efficiency.
Machine Learning’s performance of being able to predict helps in planning much ahead of the scenario where one has to face the challenge of filling gaps concerning skills. Thus, when the organization understands the detailed information of the turnover among the employees, its contributions help in building strategies and taking necessary measures to ensure right and appropriate decisions, leading to drastically reduced problems or disputes.
Helps In Personalization To Bridge The Gap
The fact that we are dealing with the millennial workforce can never be overlooked. The difference in the work perspective of the millennials is much different from those of the early workers. Wondering why I’m mentioning this? And what’re millennial workers have to do with this topic? Let me tell you.
Let’s consider an example where either you have to buy a gift for the other or vice-versa. How do you make a choice? Go to the shop and choose one from there. Right? But I hope you know the impact that a personalized gift (such as name or image printed on a mug, pillow, pen, cake, and maybe a ticket for vacation too, and so on) has on each individual, despite the gifts that cost thousands of rupees. It is so because it shows the care and the effort taken for the other and reveals a sense of belonging, and it is these aspects that create a major impact on them.
Similarly, don’t the organizations want to make the employees feel they belonged in the organization? Moreover, whether the employers are interested or not, it is an inevitable expectation of the employees. And in order to fulfill this expectation, Machine Learning is all set to lend a helping hand. But – “How”?
Machine Learning algorithms are programmed in such a way that they can identify, analyze, compare his\ her personal interests to know the potential qualities of the candidate in professionalism. Imagine you could ghetto know their interests and hobbies without probing them too much, but your findings can help you find ways to relate with them. Added to this, these findings are not limited to just the interest, but also in identifying their performance to check who needs what kind of training to enhance their skills.
Provides Opportunity To Engage The Employees
If observed well, you will find that today’s many decisions made by the organization never misses to overlook if the decision can engage the employees. That’s how much prominence the term “employee engagement” has gained.
And there’s a lot that Machine Learning is contributing to the improvement to engage the employees. It is able to process the information to measure the performance according to the set indicators, and the evaluation is sure to be much better than that of human evaluation (basically without bias).
For instance, if we consider the human resource management software, most of the functions of the manager are taken over. If that’s how the software solution helps the management, many wonder about its role for the employees. One of the highest forms of advantage for the employees with the use of this software is the opportunity of being independent, unlike earlier days, wherein for a payslip or leave application. The employee has to run behind the managers for their signature.
Thus, the dependency is reduced drastically, encouraging the employees as well as involving them in performing certain tasks that they need. This includes applying and checking the status of leave or attendance, generating payslips, etc., on their own when required, using factoHR‘s payroll solutions.. And as we know very well, companies witness high productivity when the employees are engaged. But note that all engaged employees are productive, but all productive employees may not be engaged.
Some companies take-up surveys from the employees to get to know their opinions and feedback on the company for further betterment. The information collected from the employees are to be analyzed and might consume days together when done manually. However, with Machine Learning deployed, there is a possibility of accomplishing this task more impartially, efficiently, and timely, when the criteria are already predefined.
It enables flexibility and quicker results and data insights to help the organization make further steps for the overall benefit of the organization. The results revealed by the ML tools are important because they are concerned with the working atmosphere, productivity, and the employee’s opinions, and all these are important as they directly have an impact on the bottom line of the business.
Never take the feedback, suggestions, or opinions of the employees lightly, as they are brought out of the experience, and there is no better teacher than an experience. At times, their recommendations and suggestions truly have the ability to add value to the business functionality and contribute to your goodwill.
The Closing Note
The adoption of technology is not anymore an option. Rather the choice is whether your business can survive in the competing atmosphere that the industries are finding themselves in. We have discussed the benefits of how Machine Learning can help organizations in not just automating the task but also in enhancing the performance level. As we are more than sure of ML now, that’s all set to offer a helping hand to elevate your business’s success; why wait longer? Doesn’t the question deserve a thought? It sure does, right? Well, let’s go ahead with our thoughts for a better decision.
Sweta is an experienced content strategist at FactoHR, having a keen interest in communication and the latest trends that are useful to entrepreneurs. Her passion for learning aids team members to represent new ideas that later help businesses to achieve their mission and vision.