How Can AI-Driven HCM Solutions Determine Employee Productivity?
There is potential for change only when the workforce is equipped with technology for a brighter future. As we move into an era dominated by organizational innovation, companies must embrace Artificial Intelligence (AI) to prioritize outcome-based productivity and future-oriented progress.
A recent study by PwC shows that AI could potentially add $16 trillion to the global economy by 2030. This is good news for growing businesses as large corporations have already increased their investments in technologies like AI and Machine Learning.
Human Capital Management (HCM) involves creating strategies and processes that effectively manage human resources and allocate them throughout the organization. The success of these HCM strategies is also dependent on the quality of an employee’s experience, from the onboarding process to the point of departure, known as the Employee Life Cycle.
Before investing in cutting-edge technology, business leaders should assess which aspects of their organization require automation. This will help them identify areas for improvement and utilize cloud-based HCM solutions to streamline employee engagement and improve accessibility and performance.
Here is how AI can transform employee productivity in a large enterprise:
Hiring Becomes an Experience
Several studies have shown that most employees tend to remain with a company for about 3 years if their hiring experience is seamless. Thus, companies should embrace change and prioritize digital adoption instead of relying on outdated recruitment strategies.
The traditional HR process, from sourcing applications to selecting the right candidate, often involves a significant amount of manual paperwork, which increases the risk of incorrect employee data representation. Additionally, the onboarding process becomes cumbersome as new hires are required to complete numerous forms, detracting from their initial experience.
On the other hand, the integration of AI can transform the recruitment process into a positive experience rather than just a necessary step for employees. When technology is utilized, companies should focus on an employee-centric approach to recruitment and onboarding strategies. This allows for a personalized experience tailored to each individual employee.
ZingHR, a technology-based enterprise, offers AI recruitment solutions such as Digital Onboarding. With the rise of the hybrid work model, recruiters can easily communicate with potential hires and schedule interviews using AI-powered chatbots through Digital Onboarding.
In addition, since the process is fully automated, HR leaders can effectively convey the organization’s culture and values and provide a seamless, omnichannel experience.
Employee Engagement for Enhanced Productivity
Instead of just focusing on getting work done, organizations should prioritize creating a culture that motivates employees to do their best. Integrating AI-powered workforce engagement channels, such as identifying engagement hotspots and collecting feedback digitally, is crucial.
This provides employees with a platform to exchange perspectives and collaborate with their peers, promoting teamwork. On the HR side, managers can use advanced data analytics to monitor progress and create a strong performance management strategy.
Personalizes Learning for Greater Performance
During the course of their time in an organization, employees must constantly strive to upskill themselves. Relying on L&D models that involved onboarded employees to go through hours of physical training sessions is not an ideal way to improve their experience. This can decrease the morale of the employee and most importantly, reduce productivity across the enterprise.
ZingHR’s AI-powered platform, ZingLearn, offers personalized training at employees’ own pace, with interactive and productive courses matching individual competencies. Dynamic dashboards and micro-learning tools let HR managers monitor progress and provide a flexible learning experience.
Prioritizes Employee Wellness
Based on a Study by Wellable, majority of employers are focusing on mental health (91%), stress management (77%), and mindfulness (74%).
It is crucial for employees to feel safe and connected to the organization’s vision. This includes offering medical benefits and digital wellness programs to reduce risk and promote workplace safety.
Robotic Process Automation – the Future of Work
Automation will drive productivity across the enterprise, and Robotic Process Automation (RPA) is an essential technology in streamlining business processes at some of the fastest evolving enterprises. RPA automates mundane tasks, improving customer satisfaction, financial reporting, and efficient processing.
Future of AI in Human Capital Management
Considering the impact of AI and automation, there is a tremendous scope for growth and development. With data analytics and talent excellence made possible by Artificial Intelligence, the future for SMBs and large-scale businesses looks promising.
Transitioning from conventional HCM models to cloud-based talent acquisition solutions facilitated by AI, organizations will be in a position to leverage disruptions, fight volatility and become technology-friendly. Also, by harnessing HR tech in the years to come, enterprises will become globally competitive, foster a collaborative workforce and celebrate employee experience like never before.
Growth, Progress and HCM Transformation with ZingHR
As India aims to become a trillion-dollar economy, the future of HR tech in enterprises is promising. AI-based HCM technologies can improve productivity by selecting the right candidates and providing a fantastic employee experience across the organization, delivering outcome-driven performance.
However, for a smooth transition, enterprises must evolve and most importantly, work with technology experts. ZingHR, an innovation-led enterprise, offers cloud-based HCM solutions that can inspire transformation across your enterprise. From Talent Acquisition to Talent Management and Workforce Productivity, choosing ZingHR as your technology partner can offer:
- Faster processing
- Efficient Rewards & Recognition models
- A future-proof performance framework
- Data-driven insights