A few years ago, ‘machine learning’ was common among people working in the software, artificial intelligence and related fields. Google, Amazon, Facebook, and Netflix among many others now apply machine learning to enhance customer experience through personalisation. They ensure that they have enough data to cater to the user's needs accordingly. Here's a quick read on the impact of machine learning on talent management!
The Talent Management Disruption
Over the last decade, amazing disruptions have occurred in Human Resources. With the availability of massive amount of data and the right technologies, talent management professionals are able to make important predictions. It has made the corporate so easy that it can't be explained with only a few words. The HR, for sure, is happy with the advent.
Earlier, talent management was considered to be a task but now it has become more seamless. There are less iterations and more results. The disruption has helped with the following-
- Better results
- Better products and services
- Enhanced productivity
- Lower costs
- Satisfied customers
What lies ahead in machine learning?
In 2015, the Society of Human Resources Management identified a few major human capital challenges-
- Employee engagement
- Talent retention
- Great compensation
- Developing leadership for the future
Organisations across the world are now trying to incorporate innovation into their human resources groups. As a result, the productivity and output has become a lot better.
For example, in a recruitment cycle, algorithms predict the chances of a candidate getting selected or being fit for the job. They are capable of drawing far more information than what recruiters can find.
And there's more..
We have a complete list-
- Engagement and measurement tools
- The use of pulse survey tools
- More open and transparent communications (social media, Slack, etc.)
- Feedback channels and idea exchanges
- Encouraging the employee voice in setting business goals
Well, engagement is the utmost priority in any organisation. Machine learning will provide us with tools that are going to function exactly like humans. Further, they will be trained to replicate pure human-like experiences.
Emotionally intelligent machines
Eventually, the ability of machines will enable organisations to-
- Be more flexible
- Reward the right employee
- Recognise significant contributions
- Achieve great results
- Increase productivity
For instance, imagine talking to a machine about stress and personal problems. Most definitely, machines will be fed and trained with so much data that they will nearly become real (human). The HR would not have to worry about managing the emotional well-being of employees.
Machines would do a much better job at a faster pace. Merely thinking about it makes us believe that it is going to be great. We can only imagine the amount of impact machine learning is going to have for real.
A shrinking world
The use of the internet and digital technologies have shrunken the space between people. As a result, there is a reduction of the mean time between change. With the impact of machine learning on talent management, organisations will be able to perform a lot better by reducing their response time. More like, they will save most of their time that is usually lost. This will help them become a lot more productive and will save them a good amount of money as well.