Gen AI in Talent Management
Gen AI gives an organization opportunity to drive exponential changes. Exponential changes refer to rapid and significant growth or development over time. Organizations will face three challenges in driving exponential changes using Gen AI
1. Skill set : ability to mobilize Gen AI skill set at scale to transform the business . Although many organizations started reskilling and cross skilling Gen AI skills, it takes time to augment skill at scale.
2. Mind set: To embrace and drive exponential transformation, a mindset shift is crucial. Elements of the mindset required includes Openness to change, Curiosity and continuous learning, Agility and adaptability, Risk-Taking and experimentation, Collaboration and networking and Long-Term perspective. By adopting this mindset, individuals and organizations can better navigate the complexities of exponential transformation, seize new opportunities, and stay ahead in an ever-changing world.
3. Data strategy : HR data strategy is a plan or framework that outlines how an organization collects, manages, analyzes, and utilizes HR-related data to make informed decisions and drive business outcomes. The data strategy needs to focus on both tangible/ quantitative and intangible/ qualitative data . There are many approaches organization can adopt including data lake , inference technology, etc.
Implementayion of Gen AI In the context of Human Resources (HR) management need to have strong understanding of intangible data . There are several intangible assets that contribute to the success of an organization. These intangible assets in HR management can include:
1. Employee Skills and Knowledge: The skills, knowledge, and expertise possessed by employees can be considered intangible assets.
2. Employee Engagement: this reflects employees’ emotional connection, commitment, and dedication to their work and the organization. Higher levels of engagement contribute to increased productivity, lower turnover rates, and improved customer satisfaction.
3. Company Culture: The organizational culture, values, and norms play a significant role in shaping the work environment and employee behavior.
4. Employer Brand: A strong employer brand helps attract and retain talented individuals who are aligned with the organization's values and goals.
5. Leadership and Management: Effective leadership and management practices contribute to the development of employees, alignment of teams, and overall organizational success.
6. Employee Relationships and Networks: Strong relationships and networks among employees within an organization can help facilitate collaboration, knowledge sharing, and effective teamwork.
7. Employee Loyalty and Retention: The loyalty and commitment leads to retention rates indicate a positive work environment and reduce recruitment and training costs.
Gen AI can play a crucial role in unlocking the value of Intangible assets in HR . I have summarized above challenges in my video below .
Gen AI gives an organization opportunity to drive exponential changes. Exponential changes refer to rapid and significant growth or development over time. Organizations will face three challenges in driving exponential changes using Gen AI
1. Skill set : ability to mobilize Gen AI skill set at scale to transform the business . Although many organizations started reskilling and cross skilling Gen AI skills, it takes time to augment skill at scale.
2. Mind set: To embrace and drive exponential transformation, a mindset shift is crucial. Elements of the mindset required includes Openness to change, Curiosity and continuous learning, Agility and adaptability, Risk-Taking and experimentation, Collaboration and networking and Long-Term perspective. By adopting this mindset, individuals and organizations can better navigate the complexities of exponential transformation, seize new opportunities, and stay ahead in an ever-changing world.
3. Data strategy : HR data strategy is a plan or framework that outlines how an organization collects, manages, analyzes, and utilizes HR-related data to make informed decisions and drive business outcomes. The data strategy needs to focus on both tangible/ quantitative and intangible/ qualitative data . There are many approaches organization can adopt including data lake , inference technology, etc.
Implementayion of Gen AI In the context of Human Resources (HR) management need to have strong understanding of intangible data . There are several intangible assets that contribute to the success of an organization. These intangible assets in HR management can include:
1. Employee Skills and Knowledge: The skills, knowledge, and expertise possessed by employees can be considered intangible assets.
2. Employee Engagement: this reflects employees’ emotional connection, commitment, and dedication to their work and the organization. Higher levels of engagement contribute to increased productivity, lower turnover rates, and improved customer satisfaction.
3. Company Culture: The organizational culture, values, and norms play a significant role in shaping the work environment and employee behavior.
4. Employer Brand: A strong employer brand helps attract and retain talented individuals who are aligned with the organization’s values and goals.
5. Leadership and Management: Effective leadership and management practices contribute to the development of employees, alignment of teams, and overall organizational success.
6. Employee Relationships and Networks: Strong relationships and networks among employees within an organization can help facilitate collaboration, knowledge sharing, and effective teamwork.
7. Employee Loyalty and Retention: The loyalty and commitment leads to retention rates indicate a positive work environment and reduce recruitment and training costs.
Gen AI can play a crucial role in unlocking the value of Intangible assets in HR . I have summarized above challenges in my video below .
