Future of HR Functions - Hiring & Retention

The Human Resource department is an irreplaceable part of any Organization, and its existence to the well-being of all the employees (lowest to highest level) is extremely crucial to the growth, sustainability, and development of the undertaken business. It takes into account every employee’s journey and feeds it to a database (centralized/decentralized) to understand the contribution of every individual toward the stated goals and philosophy.

Some applications of Technology in HR

Today’s HR is STRATEGIC, and its involvement starts right from planning the roles, then moves on to fuelling it with Human Capital and then stabilizing the same through timely analysis of deliverables with the assigned tasks that are targeted for proposed growth. Right from creating a Talent Pool through the Applicant Tracking System further towards On-boarding, on to Succession Planning, and until the Final Exit, the above-mentioned cycle is followed for each department and its sub-departments of the business. The challenge here is to have an intuitive high-end interactive process at every stage within the life cycle of the employee, which otherwise leads to ambiguity towards performance, attrition, and mapping of the employee’s progression within the organization.

Another lookout for the HR managers, today is to streamline the internal processes, core competencies, and the alignment of the organization structure. All these efforts from the HR department aim for higher engagement from employees and creating the feeling of being wanted during the tenure, which builds trust and care towards the assigned duties with high returns.

To achieve the above stated and empower the Human Resource: Advancements in technology will continue to play a massive role in bringing HR function from a responsive to an administrative one. Right from Intelligent Process Automation – They involve machine learning, artificial intelligence, natural language processing, to other related technological advancements that can deliver consistently and error-free people processes, given the dynamic nature of the requests they receive.

HRs adapting to these advancements in technologies will lead to greater efficiency, unmatchable customer service, and significant cost savings.

Advancements in technologies will lead to

The dynamics of the technological world have long called upon for automation of most of the elements of the hiring process to bring in the strategic component of HR functions. With the same philosophy and innovation at the core, Stratemis HR Tech has come up with solutions like BOT–as-a-service, where drafting job descriptions, issuing offer letters, setting up payroll, and gathering benefits data is complete automation with absolutely zero human intervention. These BOTs have potentially transformed the interaction between HR and employees wherein each interaction is preserved in a database and used to derive analytics that builds the base for necessary actions.

Taking an example – Stratemis chat BOTs can instantaneously answer grievances and questions, through a 24×7 service excellence via a web-based and mobile-based application platform, when compared to the traditional approach of personally reaching out to an HR.

Given the cost-efficiency in deploying BOTS, at every stage of the life cycle, HR Automation becomes all the more viable for any business in enabling a faster turnaround time for processes along with meaningful outputs in terms of analytics to the management.

Potential milestones by adopting technology in HR

Apprehending from above, we believe that talent in any organization is directly linked to driving business value, and Stratemis’s products are here to help HR Leaders ensure that they have the right people in the right roles at the right time to solve the most challenging tasks.

Stratemis Micro product “EWS – Retention Management” uses AI platforms to single out employees that may be heading for the exit door. The AI analyses different clusters of data with Natural Language Processing (NLP) to find out a baseline of standard activity patterns in the organization. Based on the derived model, employees who might leave are flagged and reported to the employer to make the necessary arrangement as per the criticality of the roles.

We must remember that life in fast-paced metro societies must always match innovation and integrate the latest technology available. The competitiveness in procuring and retaining the best of the talent will continue to push for product innovation and future-looking capabilities in the HR space, and HR teams must balance these with transparency. Hence the role of Strategic HR is to look beyond today and into the future of the evolving technologies for greater efficiency, superb customer service, and significant cost savings.

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