Cloud solutions provider Oracle identified three technology trends that could “potentially shake up human resources (HR) in 2018.”
Bernard Solomon, Oracle’s head of applications in Malaysia and head of human capital applications for Asean identified these three trends as artificial intelligence and machine learning; focus on predictive and prescriptive analysis; and technology revolutionizing workplace wellness.
Underscoring the importance of human resources, Solomon noted that in a service-driven economy, organizations must take care of both customers and employees to win and stay competitive.
“In this technically advanced environment, streamlined HR processes and social tools provide easy access to business insights. In turn, it can help organizations retain employees who are equipped with valuable skill sets and experience. This all leads to a win-win situation—employees will be more productive and can focus on making customers happy,” Solomon concluded.
Artificial intelligence and machine learning
Solomon emphasized that, “AI is being used to help automate tasks, predict outcomes, and in general transform our lives and our businesses for the better. HR can uncover incredible information that they might not have even known to look for. It can help in identifying hiring patterns, driving employee engagement, building better education programs, spotting trends in sick days and turnover rates, and much more.”
Specific areas that AI can be particularly helpful include the rigorous process of sifting through thousands of résumés and millions of social and digital conversations for recruiting purposes as well as scheduling interviews and juggling multiple calendars.
Predictive and prescriptive analysis
Solomon says there are two types of analytics that are useful in coming up with organizational interventions. One is predictive analytics which helps the organization foresee the attrition rate, engagement ratings, employee productivity, and the like.
And then there is prescriptive analytics which according to Solomon, “will help people uncover recommendations and solutions from the data they analyze. Therefore, in addition to identifying a pool of employees who are likely to leave over the next year, businesses will also able to identify actions they can take to address the situation quickly and efficiently.”
Revolutionizing workplace wellness
Solomon further pointed out that in engagement surveys, work life balance is always an employee’s top priority as HR’s goal is to develop and bring out the best in every employee aside from simplifying their everyday tasks.
To address this goal, Oracle developed an application called, Oracle Employee Wellness that can track an individual’s fitness activities, working hours, rest, and the like. Solomon believes that productivity increases when “a healthier employee is a happy employee.”