scorecardresearch
As organisations look to fight volatility, cloud will become central to HR processes in 2023

As organisations look to fight volatility, cloud will become central to HR processes in 2023

As we approach 2023, more employees will demand AI-enabled HR systems, and more CHROs will rely on cloud-based solutions to optimise their operations.

As we approach 2023, more employees will demand AI-enabled HR systems, and more CHROs will rely on cloud-based solutions to optimise their operations. As we approach 2023, more employees will demand AI-enabled HR systems, and more CHROs will rely on cloud-based solutions to optimise their operations.

The 2020s are proving complicated for personnel management. Companies that accommodated a massive pandemic-sparked move to remote work and skills gaps created by the “Great Resignation,” now face waves of layoffs and workforce reinstatements owing to a volatile economy. These factors, as well as demand for faster training in response to market changes, are all challenges that cloud-based HCM help companies navigate. 

The need for flexibility and autonomy 

Flux is everywhere. Healthcare, hospitality, retail and other industries must hire, schedule, manage, and pay a soaring number of part-time or contract workers. Many employees in those sectors cannot work from home, but neither are they tethered to a specific desk or office--think of nurses who must roam between exam rooms. Modern cloud-based HCM systems and associated applications manage and support these “deskless” workers optimally. 

Similarly, businesses must continue to offer those who work remotely part- or full-time the same experience as those who are always on site. Demand for workplace flexibility will not subside with the pandemic. 

Artificial Intelligence, smart analytics and workforce optimization 

Again, when it comes to ease, automation, and optimization of hiring processes, cloud-based HCM, equipped with AI, is a huge help. By automating common, time-consuming workloads, these systems make on-boarding new hires faster and easier. 

AI-enabled digital assistants collect data from employees and then interpret and answer questions using natural language processing (NLP). These chatbots expedite common tasks, minimizing calls and email to HR pros. Even better, the assistants remain useful throughout employee tenure by guiding people through equipment requisitions, expense reporting, and other tasks. 

The good news is that employees don’t mind working with AI, according to last year’s AI@Work global study. The research found that 92 per cent of Indians respondents felt robots can support their careers better than a person because robots offer unbiased recommendations.  The research also revealed that 97 per cent of people in India want technology to help them define their future, and 91 per cent would make life changes based on robot recommendations. Fulfilling another key workforce ask of reskilling and upskilling; AI can also help employees easily access training content they need, based on their current job, location, background, and career aspirations. 

Looking at how Indian organisations are enhancing their HR processes with AI, for example, Essar Group, a large conglomerate in India, has implemented an AI-enabled cloud HCM solution to address issues such as streamlining HR processes, tech adoption, and user-friendliness in terms of ease, not only for HR but for their entire workforce across verticals. Organisations like these are not only recognising the importance of accessibility and user-friendliness for both employees and CHROs but are also taking concrete steps to meet the needs of their workforce. 

In 2023, accessibility and user-friendliness will become key business asks 

It’s not just about HCM, as important as that is. Business applications across the board must be more user friendly than in the past. By 2024, most legacy applications will get at least some modernisation using cloud services according to IDC.  The question is whether that is fast enough. 

Embedding AI into these applications makes people more efficient: an employee who spends three hours less per week keying in data, for example, has three hours to ask questions of the data, potentially finding ways to save money or boost revenue. 

Overall, smart use of technology for HCM helps businesses boost productivity; lower administrative costs; better manage staff levels; and improve talent retention--all table stakes for trying times. As we approach 2023, more employees will demand AI-enabled HR systems, and more CHROs will rely on cloud-based solutions to optimise their operations. Hence, as we enter another year of disruption and dynamism, Cloud HCM will effectively assist organisations in navigating the uncertainties arising from economic volatility. 

Views are personal. The author is Vice President, Cloud Applications, Oracle India 

 

Published on: Dec 28, 2022, 4:08 PM IST
Posted by: Tarab Zaidi, Dec 28, 2022, 4:04 PM IST