How technology has changed the way the HR industry functions and what lies ahead
In 2019, greater focus will be laid on employee development and HR teams will focus on hiring candidates who possess relevant skills and have the drive to continue learning.
The global human resources industry witnessed massive disruption in 2018. With technological innovation at its peak, job roles and hiring practices transformed at a remarkable pace. On the back of this deluge of innovation, the global human resources management sector is projected to reach a whopping $30 billion by 2025. But what were the trends that led to growth and the challenges in the sector faced in 2018?
Technology transforms hiring practices
Across the globe, HR teams adopted technologies such as Artificial Intelligence (AI), Machine Learning and Data Analytics to streamline work and make the hiring process more efficient. Recruiters utilised the power of AI to carry out job-candidate matching, a process that is a leg-up from traditional, commoditised hiring practices. Through job-candidate matching, the skill sets demanded by a particular job role are meticulously matched with the skills possessed by candidates, leading to smarter hiring decisions. Recruiters can, therefore, cast a wider net while searching for candidates and rest assured that only the best and most suitable ones will finally appear for face-to-face interviews.
Further, HR managers gave higher importance to candidate experience in the entire hiring process. This ensured that the right talent was not lost to competitors due to poor engagement or lack of timely feedback. HR managers began using automated chatbots to provide feedback post interviews and amplify the recruiting experience for candidates. Through Natural Language Processing (NLP) and machine learning, AI allowed HR managers to assess everything from the cultural fit to the skills of candidates almost instantaneously. Lastly, recruiters also took to social media, online classifieds, and video-based hiring platforms to further optimise the entire hiring process.
The challenges that 2018 brought along
While innovative technologies disrupted industries, HR teams faced a unique challenge in 2018. Technology may have created several new jobs across industries, but there exists a lack of skilled professionals that can take up these roles. In India, decades-old pedagogy and a keen focus on bookish knowledge fail to inculcate new-age skills in students, which is why they need to constantly learn and upgrade their skills. Providing learning opportunities for employees to keep them relevant in the constantly changing jobs landscape was one of the major challenges faced by the industry.
In the coming year, upskilling and reskilling will be one of the key focus areas for HR teams. HR managers will adopt a continuous learning culture within workspaces to motivate employees and ensure definitive career growth.
Retention remains a major challenge for recruiters who struggle with attrition month after month. A greater focus on candidate and employee satisfaction and communication with existing employees can help HR managers overcome this challenge. Further, company culture and regular incentives can also give a significant boost to employee retention.
Driving growth in 2019 and beyond
It was a high-growth year for the HR sector in the country, and these growth trends are projected to continue at an exhilarating pace in 2019 as well. Greater focus will be laid on employee development across all parameters, from technological to soft skills. Further, HR teams will focus on hiring candidates who possess relevant skills and have the drive to continue learning.
Additionally, HR teams themselves will need to become technologically adept in order to stay abreast with the rapidly changing job landscape. While people skills will remain at the heart of all HR roles, managers will need to adopt skills in AI, data analytics, and automation to further augment HR practices. Technologically advanced HR teams will excel at technologically advanced smart hiring, and overcoming past challenges will be easier than ever before.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)
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