Varun | Head of HR |Â INDIALAW LLP
The word technology has taken over all the aspects of the industry. Technology has become part of each and every life in the world on the current day. Artificial Intelligence (AI) is prevailing in the current industry and its better collaboration with a human is the current ongoing exercise. Internet of Things (IoT) is another technological advancement which is trending in the industry to make things simpler and easier for users. There is always a debate on whether emerging technologies like AI, IoT, etc., are boon or bane to the world, but no one has arrived at a concrete conclusion on this aspect.
Technology gives a wonderful experience and precision on the day to day work to ease out and make accurate understanding which enables us to take right decisions at right points. Whereas it also makes human resources dispensable in certain routine works who has mastered the same for years. It is becoming mandatory to include technology into Human resource domain as it is their primary job to optimize the human resources.
Technology is giving a cutting edge to all the corporates, right from managing the hiring of the prospective employee until its separation. AI is playing a major role in this regard by providing prompt and unbiased services to the user in hiring, onboarding, training, performance evaluation, retention. On the other hand, since every employee got a smartphone, IoT plays a major role in making his life easy and flexible in hectic schedules at work with multiple tasks which need face to face interaction shall be done online using the internet which improves the productivity. This also provides unprecedented data which is extensively useful for decision and strategy maker. Similarly, the use of IoT may cause the breach in security and also it may lack the privacy which anyone wanted.
Crisis:
End of the day every HR professional strives to influence the employee to engage him/her so that he/she is satisfied and retained. Human resource domain is moving into a revolutionary phase where psychology, technology and behavioural data interpretations provide a crucial understanding of the employee’s preferences. This should enable the decision makers to formulate effective policies and welfare related decisions within the company, to make the company satisfactory and better place to work at. Whereas, the entrepreneurs are falling short in understanding the importance of this gap, mostly in the MSME sector. Understanding HR analytics and needs make any organization better workplace. Having said that, we should have effective HR professionals, who make the entrepreneurs understand the importance.
Revolutions:
The entire world is stepping into Fourth industrial revolution or IR 4.0 and there should be swift gear shift by the Human resources to get ready for the advanced technological developments,
The major focus areas of this industrial revolution are
–Â Â Â Human skill development
As per the World Economic Forum, the top skills to obtain by 2020 are,
- Complex Problem Solving
- Critical Thinking
- Creativity
- People management
- Coordinating with others
- Emotional Intelligence
- Decision Making
–Â Â Â Addressing the customized expectations of the customer/clients
–Â Â Â Making world one village through digitization
By addressing the above focus areas we achieve,
–Â Â Â Effective Corporate Governance
–Â Â Â Effective exploration of data analytics
–Â Â Â Technology effectiveness
Any industry has to undergo change some time or other. The biggest challenge is to adapt to the situations as per the futuristic and technological reforms, rest all falls in place.
About the Author:
Varun is an experienced Human resource consultant and the Head of HR at INDIALAW LLP, a PAN India law firm. His interest sits at the intersection of Human resource, technology, leadership and business results, and he focuses in the areas of shared services, L&D and Performance management.
Varun is an MBA in Human resources and holds a Bachelor’s degree in Science. His work experience is spread across legal, healthcare and IT sectors. He is also a law graduate.
