The Evolution of HR Technology and how the future of HR is AI-driven:All you need to know!
HR is changing, as is the workforce. The evolving world of HR represents broad changes in business, society, and culture due to various issues. These include remote work, competition for foreign talent, and increased employee expectations. Today, personnel acquisition, cultivation, engagement, and retention are all aided by digital platforms. Technological advancements have also transformed the role of human resources managers. Technology is now a strategic ally to HR rather than merely a solution.
Let's take a short trip down memory lane to explore HR technology's evolution!
Early times – 1990
From its start until the 1970s, human resources was conducted mainly on paper. Without an ERP system or personnel database, there was no centralized location for storing or automatically exchanging data. Until now, the only way to mail documents was to have a courier or the post office physically deliver them. Digital platforms to exchange information was a thing people could only dream of at that time.
Even though fax machines had been around for quite some time, they took off when a worldwide standard was introduced in 1980. Because, obviously, you can't fax someone if neither of you has a fax machine.
Ponder how helpful the web has been to you recently.
Try imagining yourself as a person in the early 1990s exposed to it for the first time.
The Internet was a game-changer because it made it possible for computers all over the globe to connect with the best candidates through communicating with one another, opening the way for globalization and the modern digital environment. Human resources professionals have seen a sea change in the applicant pool since the advent of online job boards. Previously, hiring managers had to choose from only those who saw the job posting in the newspaper. Instead, they might call for applicants for a position open anywhere in the world that had access to the Internet.
It's hard to realize that only 25 years ago, life was so simple.
While the Internet has long been used to communicate with those outside of an organization, its usage for internal purposes didn't take off until the early 2000s (except via email, of course). The advent of the intranet ushered in a brand-new era of corporate communication.
While an intranet aimed to resemble the Internet, it was only accessible within a single company. This made it possible to communicate more specific (and occasionally sensitive) information, such as corporate updates, organizational shifts, and staff departures.
Using an intranet allows for a more graphic display than possible via emails alone. They're also an excellent hub for company data and assessments, as they may hold papers that employees could find valuable and then easily download whenever needed. Human resources departments in large companies would benefit greatly from having a system to quickly identify and categorize their workforce using only their login information.
Social connection in the workplace is essential, and intranets make it easier for human resources departments to engage with employees and vice versa.
There is still a place for intranets in many companies, but in the late 2000s, specialized HR portals replaced many of the HR functions that had previously been housed there. A digital platform like an intranet might help with mass communication to staff; how can employees communicate with the HR team?
An HR live chat was the initial step in resolving the issue. Real-time chatting is made possible by a custom-built HR system, which may be used in both directions.
Additionally, this method paves the way for increased role-based information dissemination inside the organization. For example, employees might use this system to view their remaining vacation time, which was previously only accessible through personal interaction with the HR department.
A human resources digital platform/portal would provide not only the means to convey this knowledge to workers but also the resources necessary for them to take the steps required to put it into practice (i.e., booking a holiday through the portal). HR can devote more time to strategic initiatives by making this resource available to staff.
With built-in review and feedback features, online hiring of candidates can be carried out efficiently, and it may also help employees and supervisors better understand how they're doing. Think of it as arming your non-HR staff with the competitive edge they need to help your company flourish, with no extra effort from HR.
HR can better react to workers' questions and concerns by providing a chat option. The human resources field is at a tipping point. Digital platforms like Live chat and instant messaging usher in a new era for the department and pave the way for more automation, especially chatbots. Unlike a phone conversation, which demands their attention for the inquiry, they can continue working on something else until the chat bubble alerts them to a message.
2020 onwards-Latest HR Technology trend:
With potentially revolutionary HR technology solutions developing, we are witnessing a digital boom that radically alters how we operate and view HR. One such technology trend hot in the market is AI-driven recruitment and assessments of candidates.
What is AI recruitment?
The term "AI recruiting" refers to a technique that uses AI to automate tedious, time-consuming processes while providing candidates with individualized experiences and using data insights at every stage of the hiring process. The field of study known as artificial intelligence (AI) focuses on teaching computers to mimic human intelligence to make otherwise labor-intensive jobs easier to handle automatically.
Recruiting new employees is a time-consuming and expensive process, but automation and AI make it simpler to locate qualified candidates that are a good fit for your firm. Many innovative technical recruitment solutions have flooded the market, from automatic resume screeners to online assessments to robot interviewers.
About 300 resumes are sent for every available corporate position.
In other words, it's sufficient enough to keep human resources departments busy. Just picture yourself sifting through piles of paperwork. This is only the beginning of our examination of prospective employees.
It's not news that recruiting is a demanding career. Every application they get must have a response given to it.
However, what if companies delegated the task of locating qualified applicants solely to AI?
Well, yes, we know by now you must be having tons of questions regarding online hiring popping up in your mind, don't worry; we'll try to answer the majority of possible questions for you!
1. Will AI eliminate unintentional bias?
According to a study conducted on HRs, most participants (59%) agreed that incorporating AI into the recruiting process will eliminate unintended prejudice. And around 14% opposed this conclusion.
Previous research has demonstrated that AI can eliminate unintended bias by concentrating simply on applicants' talents and experiences. This can help to diversify the workforce.
2. Can AI assist applicants in the application process?
According to research, approximately 95% of recruiters feel AI can be utilized in different digital platforms to aid applicants in the application process. One way AI might assist candidates is by providing feedback following the evaluation of a resume. Applicants might also boost their chances by crafting an ATS-friendly CV that artificial intelligence could readily analyze and use to determine whether they are a good fit for the firm.
3. Is AI recruitment more useful for particular sectors than others?
96% of HR experts believe that AI is more effective for recruiting the best candidates in specific industries than in others.
Almost half of the respondents (49%) mentioned the IT industry. After that, the number of those who guessed advertising and marketing dropped dramatically to a little over 7%. Also, about 7% believe its primary value lies in banking and economics.
4. What is the present strength of recruiters using AI?
According to the study conducted for the year 2022, 66% of HR recruiters utilize AI-driven evaluation/assessment software while recruiting. Over 70% of Millennials thought that artificial intelligence was used in their assessments for recruiting process. This decreases to around 59% for those in their forties and beyond.
5. How many people are comfortable getting hired by AI?
According to the study, 76% of individuals would not mind being recruited by AI. And 24% would be upset if artificial intelligence rather than humans hired them.
6. Do recruiters believe that AI will replace them shortly?
According to the study, About 15% of HR professionals feel that humans are indispensable throughout the recruiting process. Still, a whopping 85% of HR recruiters believe AI in online hiring is a helpful tool that will replace a portion of the recruiting process.
Now that you have an Idea about AI-driven recruiting and answers to its related questions, let's check out how MyAnatomy, a SAAS-based recruiting and assessment platform, helps recruiters hire the best candidates among the pool of talent.
My Anatomy; Answer to all your talent needs!
With the trust and confidence of over 4000+ colleges, 200+ corporate, and millions of candidates, MyAnatomy has become India's leading one-stop destination for all talent needs in a brief time.
Let's understand what makes MyAnatomy an Equal Opportunity Enabler.
The company focuses mainly on three sectors: Corporates, Colleges, and Candidates.
Corporates: Revamp your recruiting decisions!
The corporate recruitment process is made easy with AI-powered cheat proof and flawless pre-employment assessments (Technical, Management, Functional, Operation, et-al) like Hackathons, coding contests, cognitive, analytical, and aptitude tests, as well as tests of English fluency and coding capability that let corporations evaluate candidates for roles-specific talents.
Programs offered by us:
- Campus Connect (Freshers/ Interns Hiring)
- Tech/ Cognitive Interview Management (End-to-end recruitment process support)
- Early talent Learning Programs (Project-based learning Programs for fresh hires)
It helps you streamline your online hiring process and find the ideal person for the job.
From requisition creation to onboarding, MyAnatomy has got it all covered!
Colleges: Virtual End-to-to placement management and potential candidate assessment
Institutions may manage every part of placement-related activities from the comfort of their desk using a completely digital platform for engagement and placement administration.
Digital solutions that are AI and MI-powered, very reliable, flexible, and user-friendly help firms assess and gauge individuals' potential across a broad spectrum of academic knowledge, competitive talents, coding efficiency, technical competence, and communication and interpersonal skills.
Candidates: Unleash your potential with world-class assessments and rank above the best candidates.
Upskill yourself by appearing for NCET (National Competence Evaluation Test), top-notch 500+ mock tests, and competitive exam practices that are the campus, domain, and company-specific. Opportunity to participate in numerous training courses, hackathons, and coding competitions. Grab hundreds of internship and job opportunities
Features of online assessments and mock test papers:
- Prepared by experts in the industry.
- Instant Result Generation.
- Analytics by section and overall.
- New exam patterns resemble those from the original test.
In the previous several decades, technological advancements have accelerated at a breathtaking rate. Digital platforms have now become an absolute necessity. Companies that are among the first to adopt emerging technology typically succeed tremendously.
Keeping abreast of technological developments is crucial if you want to stay ahead of the competition. If others use the same technology before you do, it can appear that you are merely catching up when you do. Always be one step ahead of the competition to secure your company's position as an industry expert and capitalize on opportunities at their peak.