Three Things Your People Need to Improve Focus, Performance, and Above All, ROI
Competitive advantage in a global economy is becoming more difficult to attain, especially as rapid technological advancement and access to talent level the playing field. Companies that succeed typically break away from the pack in a number of ways. New product innovation, superior quality, low costing, and great customer service. But the common denominator for achieving all of the above is a workforce that is motivated to deliver against a well-defined, reachable goal, free from obstacles that waste time, impede performance, or damage morale.
We’re talking about productivity, the kind that marries human ingenuity with superior execution to optimize the value of every hour spent in a working day.
Historically, whenever humans meet with technological advancement, productivity improves. In the fast pace of AI and automation, this truth has never been more evident.
According to a recent IDC study on human capital management (HCM), companies that integrate AI and generative AI (GenAI) into HCM systems are able to achieve a 30% increase in employee productivity. They achieve this by enhancing worker output in three key ways:
- Personalized Employee Experiences: Making work more engaging, supportive, and inclusive, to retain and attract top talent.
- Automated Support: Freeing humans to focus on higher value activities, while lowering the cost to process work.
- Greater Knowledge Access: Enhancing communications, training, upskilling, insights, and decision-making for improved value creation.
HR professionals who can deliver productivity-enhancing capabilities to their workforce can boost morale, reduce costs, and drive innovation Here’s how:
Apply Technology to Unlock the Potential
Getting at the ROI behind improved workforce productivity takes more than training, incentive plans, and skilled management. Technology now exists that can accelerate gains and open new vistas into potential never before realized in a modern workforce.
Indeed, next-generation AI and GenAI have matured to a point where any company, given the right data orchestration, compute, and integration capabilities, can achieve rapid success. Within a cloud-based, AI-enhanced, digital HCM environment, you can quickly get to a 30% increase in productivity or more. Consider the following targets as you plot your journey to competitive excellence:
1. Integrate AI and GenAI into your HCM systems.
This will streamline and improve how you manage talent across your entire talent lifecycle, from sourcing and screening candidates to onboarding and continuous development. With AI, HR teams can quickly identify the best-fit candidates and assess skillsets against job requirements. AI tools can also help track performance, recommend development plans, and ensure talent is continuously engaged and ultimately retained. The key is ensuring clean and complete data can be drawn from diverse sources, including unstructured data sources, over a centralized intelligence environment. If you don’t have the internal capabilities to get there, seek a partner who does. It will be well worth your investment.
2. Automate the grunt work.
Keep these key targets in mind as you map out your path to competitive excellence: Engaging employees in meaningful work, rather than repetitive tasks, enhances morale and maximizes their contributions. By automating time-consuming tasks, such as payroll processing, benefits administration, and scheduling interviews, AI frees your HR team to focus on strategic initiatives rather than mundane, administrative work. For example, chatbots, such as SAP Joule, can handle common employee queries and tasks, reducing the need for manual HR intervention, while also maintaining accuracy. Spend some time examining your workflows and identify the bottlenecks. If a task is simple enough for a robot, let a robot handle it—freeing your people to focus on higher-value work.
3. Enhance decision-making with predictive analytics.
Predictive analytics empower HR leaders to take action based on the insights provided. AI was meant for this very task. By analyzing historical data and real-time trends, a well-trained AI assistant can scour vast stores of information and condense the findings into poignant charts, graphs, or summaries that inform and support executive decisions in real-time. In fact, AI use cases can be specifically modeled to help HR teams forecast more accurately, identify potential skills or leadership gaps, and optimize workforce planning—all of which can help HR teams align workforce activities to advance business strategies.
4. Elevate the employee experience.
Modern-day workers have come to expect personalized experiences in all encounters and transactions, on every screen of choice, at all times. A digital environment that supports AI functionality is therefore a must-have if you are to achieve a 30% productivity increase. Self-service HCM solutions, such SAP SuccessFactors, integrate AI functionality to tailor interactions and recommendations to an individual employee’s needs, creating a much more engaged workforce. For example, it can suggest relevant learning modules, career paths, or even wellness programs based on an employee’s preferences, role, or goals. This can enhance employee satisfaction and strengthen their relationship and loyalty to the team. Do this, and you will be well on your to greater outcomes.
There’s No Reason to Hold Out
According to IDC, organizations intent on improving their game by adding AI and automation to their HCM toolboxes rank finding an able consulting or solution implementation partner high on their list of transformation accelerators. In fact, for those prioritizing scalability and flexibility, finding a partner to support and enable the transformation ranks second on the list of considerations.
With so many able partners poised to assist, there is no reason to wait for the next big breakthrough. Technology will continue to advance, and the workforce will always evolve alongside it. The key to gaining a sustainable competitive edge in today’s global economy is to prioritize human ingenuity and superior execution on the strength of an AI-powered HCM platform.
Rizing with Wipro has the track record and toolset to help you get there quickly and efficiently. Why not make the move toward lower operating costs, a more positive employee experience, and yes—up to a 30% improvement in productivity—now? To learn more, visit us.