A report from Keka has revealed that 75 per cent of business professionals anticipate a co-existence between Artificial Intelligence (AI) and Human Resource (HR) functions. The survey conducted by the HR tech platform for Small and Medium Enterprises (SMEs) also reveals that more than 90 per cent of HR practitioners express concerns about the ethical implications of integrating AI into HR practices. Subsequent to the survey, Keka released a report titled “HRs as Change Agents 2023.”
Further, more than 90 per cent of respondents express concerns regarding the ethics of AI in HR, with a focus on privacy and bias issues. This continues to be a significant worry for HR professionals as they navigate the transformative landscape. Despite prevailing ethical concerns surrounding AI in HR, three in four business professionals are optimistic about the coexistence of AI and HR functions.
The report also indicates that 32 per cent of professionals feel there is a need for enhanced understanding of people analytics among HR professionals to bolster their ability in presenting persuasive cases. Additionally, it reveals that 25 per cent of organisations leverage people analytics for recruitment, and 21 per cent for enhancing employee engagement. About 55 per cent of respondents express confidence in the effectiveness of their people analytics initiatives. Notably, 31 per cent of HR professionals identify growth and advancement opportunities as the most crucial aspect, as per the survey findings.
The report further notes that only 30 per cent of business professionals believe HR actively participates in business discussions, with 75 per cent finding it challenging to enhance their business acumen. The report introduces the concept of HR acumen fabrics, encompassing elements such as financial literacy and market awareness. In addition, the report highlights key challenges in employee retention, including competitive compensation (31 per cent), a lack of career development opportunities (18 per cent) and the maintenance of a positive organisational culture.
Vijay Yalamanchili, founder and CEO, Keka HR, emphasised on the centrality of empowering HR professionals with technology and insights to Keka’s vision. According to him, the report serves as evidence of their dedication to equip HR professionals with the knowledge and tools necessary to navigate the continually evolving HR landscape. It delves into the significance of aligning HR values with business goals and instilling purpose throughout the organisation. Additionally, the report provides guidance for HR professionals on building trust, evaluating passion and exploring collaborative options.
As per the report, HR professionals can enhance their business acumen through engagement in cross-functional projects, participation in mentorship programmes, attendance at workshops and conferences, enrollment in online courses, pursuit of certifications and staying updated by reading industry publications.
