5 Aug 2022

184

Future Trends in Human Capital Management

Format: APA

Academic level: College

Paper type: Research Paper

Words: 564

Pages: 2

Downloads: 0

All indications point to a future where artificial intelligence is going to step in to help solve the problem of human capital management. The process of recruitment is among the toughest problems that are faced by businesses today. Getting the right talent resonates with getting the goals and visions of an organization achieved as planned. Hiring the wrong person is expensive to the company. Data indicates that the cost of hiring is placed at a quarter a million dollars (Goyal, 2017). Different artificial intelligence companies have taken up the task of talent acquisition effectively and efficiency. The paper looks at some of the benefits that come with the use of AI in human resource management. 

The recruitment process involves a lot of stakeholders. The organization is interested in getting the right person for the job and also the right talent to effectively execute the tasks at hand (Seseri, 2018). The use of AI helps reduce the operational burden that might fall on the human resource department. In so doing they end up getting low-level tasks and providing better information that comes handy in decision making. There exist a variety of already functional AI that has fully been implemented (Seseri, 2018). They include X.ai that helps handle administration nightmare for scheduling requirement interviews. ClearFit, on the other hand, helps in finding the right candidates and ranking the same candidates. These are some of the AI machines that are already in use by the human resource managers. These are in an effort to improve the efficiency process of recruitment in general. 

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Effectiveness in the recruitment process would involve getting better data and intelligence that gets to process and find the right people (Ideal, 2018). The data will also help them get the right process through which to screen and get the qualified candidate. The data collected through the recruitment process is not being effectively used for future references. Through the use of AI, every single process is stored and preserved to be used in future recruitment processes. The idea being that effectiveness would entail weeding out the unnecessary costs of repeating the whole process a new only to incur the extra costs all over again. It will also be helpful in sourcing and get the right candidate without having to seek out all the unqualified candidates. Wade and Wendy have taken up this step and is helping build a trail of every interaction and help establish the right applicant for the interview (Seseri, 2018). 

There are some challenges that such machines however present. Recruitment is a process and it is not always a black and white affair. There exist some traits that could only be detected through face to face interactions. To assume that the process is now reduced to a binary process is to ignore other talents and traits that an AI might miss to identify. The company is not interested in getting a machine but an employee that would best fit and answer some of the concerns angled towards the achievement of the companies goals and targets (Ideal, 2018). 

Conclusion 

The employment of artificial intelligence in the whole process of human resource management is opening vast opportunities for the organization. It does have some drawbacks that need to be handled and corrected before it is fully implemented. Although it does cut down on costs of recruitment its acquisition and maintenance will also be a costly affair that needs to be considered during the normal recruitment process. 

References 

Goyal, M (2017). How artificial intelligence is reshaping recruitment, and what it means for the future of Jobs, Retrieved.(April 24, 2018), website:The Economic Times, site: https://economictimes.indiatimes.com/jobs/how-artificial-intelligence-is-reshaping-recruitment-and-what-it-means-for-the-future-of-jobs/articleshow/60985946.cms 

Seseri, R (2018). How AI Is Changing The Game For Recruiting, Retrieved. (April 24, 2018), website: Forbes Magazine, site: https://www.forbes.com/sites/valleyvoices/2018/01/29/how-ai-is-changing-the-game-for-recruiting/#44e12d9c1aa2 

Ideal, (2018). AI For Recruiting: A Definitive Guide For HR Professionals, Retrieved. (April 24, 2018), website:ideal, site: https://ideal.com/ai-recruiting/ 

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StudyBounty. (2023, September 15). Future Trends in Human Capital Management.
https://studybounty.com/future-trends-in-human-capital-management-research-paper

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