Technology is revolutionizing the way in which the area of People and Talent operates. For example, artificial intelligence (AI) has streamlined and automated processes in the recruitment, selection and measurement of the work environment. This is only the beginning of the use of AI in Human Resources (HR) functions.
Although it is impossible to predict what the HR area will look like in the future, there are five trends that are marking the advancement of the use of technology for talent management:
1: Employee-centered products
Until recently, most technology projects in the HR area focused solely on generating business value. Currently, pioneer companies such as Insight222, use data science to help employees make better decisions about their professional careers, and managers to measure the collaboration and well-being of their teams.
2: AI will transform key functions into HR
Just to share one example, Harver is an AI-driven recruitment tool, its goal is to help companies make hiring decisions based on data, beyond traditional CVs. The company, with offices in Amsterdam and New York, offers predictive analytics to accelerate the recruitment process, preselect candidates in 42 languages and measure their user experience throughout the process.
Thus, AI is creating a division in the key functions of HR in tactic and strategic. Some tactical aspects of recruitment, learning and compensation can be automated with AI. However, strategic tasks, such as relationship management, cannot yet be performed by algorithms. The main value of humans in the area of HR will always come from their ability to think critically and make good decisions.
3: Learning Experience Platforms (LXPs)
Organizations have been using Learning Management Systems (LMSs) for a long time, but the nature of work is evolving and so is the nature of learning.
Now, we know a lot about how the adult brain learns, and more advanced approaches have been developed, such as lifelong learning, adaptive learning and experiential learning. Learning Experience Platforms (LXPs) take into account all these trends to build a learning software designed to create a more personalized learning experience.
LXPs can integrate with other “non-learning” ecosystems to deliver enhanced learning experiences. Learners can add new content and make decisions about what to consume and how, thus, employees can become protagonists of their own development.
The LXP market itself is now over $350M in size and some estimates point out it will double every year.
4: Data mentality
If you do a quick search, you will find a dozen augmented analytics software that allows you to automatically review HR data, clean it, analyze it and convert it into actionable steps and information. Investment in these types of platforms has skyrocketed in recent years, however, there is still a large gap between these new innovative solutions and the skills needed to implement them.
The areas of Human Capital must adopt an analytical mentality, which is a style of thinking that values and understands the data. To maximize the potential of the “People Analytics” or Talent Analytics team, it is necessary to gather technical skills and data mentality.
5: Humanize technology
As organizations increasingly rely on data and algorithms to guide their decision-making, HR must keep in mind that each person in the company has unique motivations and experiences. That is why the global trend in the areas of talent is to personalize the experience.
When the Human Capital area uses technology, there are many business mantras that become very relevant, for example: you get what you measure and you can’t manage what you don’t measure; focus resources on the most valuable activities, and automate processes that are manual, slow and error-prone.
That said, many people have asked me if AI will eventually replace human recruiters. Selecting and closing applicants requires a human touch that will never be replaced by a robot; technology opens the opportunity for the HR team to devote less time to bureaucratic tasks and to focus that energy on innovating and guaranteeing the well-being of the most valuable resource of organizations: humans.