Tuesday, 3 January 2017
Companies to go for automated HR processes, 8% hiring in 2017
The year 2017 is here sooner than you thought. As in previous years, this year too, companies will upgrade HR processes to ensure that employees have a better and a long-lasting experience at work. HR experts say that the hiring intention of companies this year will be around 8% after demonetisation. Top hirers will be telecom, banking, financial technologies (fmtech), healthcare and education (edtech) sectors. These sectors will also see an upsurge in the number of jobs created.
What will differentiate this year from last year is that more companies will invest in automating basic HR processes through chatbots (computer programmes that can simulate conversation with humans-mostly over the internet). This will speed up screening of candidates and help reduce human biases. Other companies will focus on big data and tap into workforce analytics to track every stage of an employee's progression.
Professionals in demand would be those with two to five years of experience in handling chatbots (created through artificial intelligenceprocesses which enable machines to emulate humans and mimic cognitive functions) and data analytics. They would have most likely trained themselves on the job and acquired skills by working on projects, says Pankaj Bansal, co-founder and CEO at People Strong.
HRs will also take diversity at the workplace seriously, focusing on people's comfort levels in a multi-generational environment and improving employee experience. The annual performance review will die a slow death and the focus will be on regular appraisals and real time chats to apprise people of their strengths and weaknesses.
Hiring intention for this year will be around 8% to 10% after demonetisation. The sectors that will be the top hirers this year include telecom, banking, financial technologies (fin-tech), healthcare and education (edtech). These sectors will see anupsurge in the number of jobs created.
Mid to senior-level positions in IT (data warehousing and big data), bio-pharma, specialty chemicals, aerospace and business analytics and consulting roles in financial services and ITeS-related industries are likely to be in the limelight in 2017.
The biggest source of hiring employees will continue to be employee referrals and social media. HR will leverage newer sets of platforms where matchmaking engines will be the key "Companies will invest in applicant tracking systems that will have matchmaking algorithms built in. The entire process of recruitment will be automated. Interviews will take place through applications, chatbots will be used as assistants to candidates and will improve candidate experience, bringing about uniformity of communication between employers and candidates. The entire process of generating an offer letter will be automatic and the candidate will get to accept or reject it through an app. If he accepts it, he will be given a boarding pass. Chatbots will also guide candidates through the entire boarding process," says Bansal.
For Concentrix India, employee referrals remain a key source of talent acquisition. "We have n in-house app called myREF, an employee referral programme management system that facilitates employee hiring through a digital process. It enables employees to become hiring partners by tapping into active and passive job seekers in the employee's personal, social, and professional network," says Jojo Mathews, head of HE, Concentrix India.