A recently article rightly points out how India (and the rest of the world) can reap huge rewards by leveraging modern age technology into virtually any HR process: hiring, predicting performance, retention, choosing optimal benefits, among others.
The explosion in data on virtually every person and corporation on the planet combined with state-of-the art technologies (including the latest wave of machine and deep learning) ensures that no one has to be ‘dumb’ about any HR process. Nor do HR managers have to follow cookie-cutter approaches to any of the processes outlines above. Rigorous data analytics can help identify ideal candidates and in less time, to predict a person’s performance in a job function with good accuracy, and provide us with a variety of tools and dashboards to make optimal use of a person’s capabilities.
I predict that a wave of cloud-based startups will emerge in the HR technology space that will fundamentally alter how we look at traditional processes. I also suspect that forward-thinking companies like Linkedin will invest fairly heavily, organically or inorganically, to maintain bleeding-edge skills for both recruiters and candidates.
I interact with a good amount of startups that are specifically attacking the hiring problem by developing technologies dedicated towards making hiring easier and more efficient – using data to ascertain a certain candidate’s suitability for a position – by using predictive models that ingest data from a variety of sources: social media, corporate profiles, and more.