Human Resource Shaped by Emerging Technologies – Vision College of Management

Role of Emerging Technologies in HR Functions
Finding, Attracting & Retaining Talent
Developing People to reach their full Potential
Improving the Employee Experience (EX)
Creating Collaborative Work Environment
Creating Collaborative Work Environment- Essentials
Workforce Shaping
Workforce Shaping- Steps
Workforce Shaping- Upskilling, the way ahead
Ensuring Diversity, Inclusivity, & Equity
References

Role of Emerging Technologies in HR Functions

What if you could create a modern way to deliver HR where people and technology came together; building organizational resilience and providing business value beyond today’s expectations? Emerging Technologies are making the same possible, while becoming an integral part of the entire HR Functions

Finding, Attracting & Retaining Talent

Few Emerging Technologies That Are Impacting Hiring and Recruiting •Automation
•AR and VR
•The Cloud
•Blockchain
•Predictive Analytics

Today Technology is separating the leaders from the laggards. If you aspire to be a leader in HR, you should have proficiency in the above. Two in 5 HR managers initially spend less than a minute looking at a resume, 19 percent less than 30 seconds.

When applied to hiring and recruiting functions, predictive analytics helps to anticipate and optimize activities such as talent acquisition, talent pipeline planning, and job-response optimization.

With production performance, data on attrition, employee lifecycle information, and engagement survey feedback, organizations can now build prototypes that can predict the future performance of an applicant

Developing People to reach their full Potential

Future of HR 2020’ survey conducted by KPMG predicts that believe that if the HR function doesn’t modernize its approach, it could become irrelevant. Today one of the biggest challenges is as HR puts it to Really understand your people!

Technology is set to play an integral role in this modernization.

Take KPMG as an example. In the future, in addition to traditional auditing skills, they are set to rely heavily on data science, design thinking, data and relationship management. KPMG member firms are already reshaping our workforces to help ensure our teams have the skills available to meet the requirements of our clients in the future.

Technology will also help to understand individual workers. You can understand someone’s skills, their level of proficiency and areas where they might need to develop. And you must be able to do this in an agile and dynamic way.

Improving the Employee Experience (EX)

A research by KPMG on Connected Enterprise states that employee experience can directly influence customer experience and centricity. It’s about “walking the customer talk.”

HR and design thinking

Design Thinking is defined as a creative, solution-based method for problem solving. The need for a frictionless, connected employee experience (EX) and customer experience (CX) is increasingly driving HR organizations to focus on the capability of design thinking; a human-centric, structured, and creative approach to problem solving.

Pathfinding HR organizations are redefining the EX with help of latest tools available through Emerging Technologies.

Creating Collaborative Work Environment

From artificial intelligence wearables to interactive displays connected to cloud software-as-a-service (SaaS) platforms, collaborative technologies are changing the way we work, as well as where we work.

Our working environment is in a process of transition. Post Corona period the importance of location stands diminished. With Work from Home a new normal, several forms of innovative collaboration are emerging which make collaboration across organizational boundaries seamless like never before.

Emerging Technologies have enabled user-friendly information sharing and communication technologies and new ways of working.

Creating Collaborative Work Environment- Essentials

Few Main essentials of Collaborative Work Environment

•Smart Wearables
•Cloud Services and SaaS
•Smart Meeting Rooms & Huddle Rooms
•Encouraging Online Social Networking
•Project Management Tools

Workforce Shaping

What is “workforce shaping?” Ø It’s taking a scenario-based approach to defining the required workforce in 5–8 years’ time. ØIt’s understanding how digital disruption and AI will change the overall shape, size, composition, and skills in the workforce and how humans and machines will work together to drive business value and a high-performing workforce. •Workforce shaping is about aligning your company’s business and human resources needs to make sure you have the right employees with the right skill-sets at the right time. •The impact of the Fourth Industrial Revolution requires us to analyze how digital disruption and AI will change the overall shape, size, composition, and skills in the workforce and how humans and machines will work together to drive business value and a high-performing workforce.

Workforce shaping is not a case of doing traditional workforce planning harder and faster.
Paul Lipinski, Principal, KPMG

Workforce Shaping- Steps

Few Important steps in Workforce Shaping which are being directly impacted by Emerging Technologies:

Identify and Protect Critical Talent
Overstaffed and Understaffed Functions
Determine Changes to Outputs
Determine Changes to Service Levels
Look at Productivity
Determine Cuts
Model Impacts

Workforce Shaping- Upskilling, the need of the hour!

Our strategy at Walmark is to people-led and tech-empowered.
Dough McMillon, President & CEO, Walmart

Disruptive technologies — from artificial intelligence to virtual reality — have the potential to transform the world of work. Upskilling of employees for a digital age is now essential for resilience.

For right-skilling, organizations need to have a strategic plan for talent to make the shift. Any good talent strategy should focus on retaining and training existing talent.

By 2030, as many as 375 million workers globally will have to master fresh skills as their current jobs evolve alongside the rise of automation and capable machines, estimates McKinsey Global Institute.

Too much time is spent on debating the impact of job elimination and not enough time on the need for a skills revolution.
Jonas Prising, Chairman & CEO, Manpower

Building a competitive workforce of the future proactively requires:

•Gaining clarity on today’s workforce gaps and the future skills needed.
•A robust plan to supply the future demand.
•Rapid, disciplined execution.

Ensuring Diversity, Inclusivity, & Equity

DIVERSITY and INCLUSION has become a CEO-level issue around the world. The digital organization of today, which operates as a network of teams, thrives on empowerment, open dialogue, and inclusive working styles. Leading organizations now see diversity and inclusion as a comprehensive strategy woven into every aspect of the talent life cycle to enhance employee engagement, improve brand, and drive performance.

Emerging Technologies are playing a pivotal role in the D&I quest in the below ways:

1.  Deploying artificial intelligence (AI) technology to remove unconscious bias.
2.  Using data to assess D&I climate, identify focus areas & quantify the success of initiatives.
3.  Increased leadership accountability & support for D&I programs.
4.  Interview standardization to reduce bias.
5.  To embrace Diversity & inclusion across all products & services for customers.

Ensuring Diversity, Inclusivity, & Equity- Few Technologies/Solutions

•Textio – A technology that helps with diverse sourcing email and job posts, highlighting and flagging potential phrasing that could be exclusionary or biased.
• BeingVR– A technology which uses digital storytelling using virtual reality (VR)
•Balloonr – A technology that gathers feedback and ideas from all employees without allowing bias to influence feedback.

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