Data, AI & People Analytics are terms that have traced people in the field of HR for the past few years. A term that has recently been added to this list is Algorithmic HR. The HR landscape is undergoing a profound transformation, and at its core lies the rise of Algorithmic HR. The change is being driven by the rapid advancements in technology and increasing complexity of business operations. HR departments worldwide are turning to algorithmic solutions to streamline their processes and maximise efficiency in their organisations. This revolutionary approach will redefine the way organisations manage their workforce.
To understand this approach, one must understand the genesis of Algorithmic HR. This concept owes its inception to technology giants. A major IT company recognised the potential of data driven decision making and pioneered the application of Algorithms in HR terming it ‘People Operations’. However, the application of Algorithmic HR isn’t limited to the technology industry. According to the International Data Corporation, by 2024, 80% of the 2,000 companies surveyed globally will use algorithmic managers to hire, fire and train employees. Moreover, 40% of HR functions in international organisations have already incorporated AI applications, thereby expanding the candidate pool, accelerating hiring as well as enhancing engagement and retention.
To conclude, Algorithmic HR represents a pivotal shift in the way human resources is managed. As we approach the future, the integration of algorithms in HR processes will continue to evolve and create a data-driven management landscape.
Gain insights on advantages of an algorithmic approach to HR management, click here.
There are numerous benefits of an Algorithmic HR approach, and there are downsides as well, click here to learn more.
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