AI Tools for Modern Talent Management

In the part 1 of the AI blog series, we have understood how artificial intelligence (AI) is impacting the HR industry. Here is a quick recap of the previous blog.

1. AI can automate tasks like recruitment, onboarding, performance management, and payroll, freeing up HR professionals for more strategic work.
2. AI won’t replace HR, but it will change jobs: Monotonous, repetitive tasks will be automated, but jobs requiring human skills like empathy and emotional intelligence will remain important.
3. AI can provide data-driven insights for better decision-making in talent acquisition, performance management, and employee engagement.

Overall, the previous blog provides a comprehensive overview of the impact of AI on HR, highlighting both its potential benefits and challenges. It encourages HR professionals to embrace AI and see it as a tool to improve their work and create a better future for HR. Some examples of AI powered HR tools have also been incorporated into the blog. 

For Quick Read to the previous blog on Artificial Intelligence, click here- https://mverve.com/artificial-intelligence-and-human-resources/

In this new blog, we shall look at some of the key features of the AI tools that enable efficient delivery of a few HR functions. 

1.HireVue

HireVue, a video interviewing and assessment platform, offers benefits for both employers and candidates. Its important features to consider are:

Features

1. Reducing time spent scheduling and conducting phone screens.
2. Reducing interviewer involvement by automated initial screening with on-demand video interviews
3. Consistent evaluation using pre-set questions based on skills and ai-powered scoring
4. Minimizing bias through standard and transparent interview process
5. Eliminating location-based barriers
6. Data-driven insights into candidate skills and behaviors through analytics

HireVue- https://www.hirevue.com/

2. Fetcher

Fetcher is a cloud based tool that helps in recruitment activities right from sourcing till engaging the candidate throughout the hiring process. Let us see some of its features:

Features

1. Fetcher has advanced AI technology and team of experts source 
2. Provides high-quality candidate profiles that match hiring requirements
3. It has curated lists of top candidates in market
4. Automated email campaigns are run to reach right candidates with personalized content
5. AI enabled tracking of responses to identify candidate who are interested
6. Initiates building a relationship with the prospective candidate
7. Metric Dashboard with insights on candidate response,engagement and overall talent sourcing.
8. Gives scope of improvement through the data set provided by the tool. 

Fetcher- https://fetcher.ai/

3. Leena.ai

Leena. ai is a virtual assistant powered with artificial intelligence to support the employees through the work processes internally using smart search and knowledge management. Acts as a chatbot/ HR support provider.

Features

1. Fixes the struggle of the companies in providing information and streamlines communication processes
2. Employees have access to the right answers at the right time
3. Brings together all possible information that are scattered across different platforms and systems of the organization
4. Manages information and empowers the team to succeed in a fast-paced, information-driven world.
5. Reduces turnaround time for closing HR queries, IT tickets and improves the employee experience.
6. Customer/employee help desk meets SLA with reduced human intervention and almost no waiting period.
7. Helps save hours, decrease resolution time, seamless delivery of information, improve productivity, and receive positive feedback from employees. 

Leena.ai- https://leena.ai/

4. CYPHER Learning

Cypher Learning is a Learning management tool that focuses on providing a personalized learning experience to its users using some engaging methods. Here are some of the best features to look out for:

Features

1. Enables creation of online courses at a faster pace, takes less than 15 working days to create a course
2. Allows users to update content according to the changing needs
3. Reduce costs & optimize resources
4. Offers personalized learning recommendations and customized courses
5. Devising content, quizzes, interactive learning activities and mapping of competencies comes handy 
6. Supports learning in multiple languages
7. Organizations can upload existing learning material in various formats like videos, audios, PDF, etc. 
8. Empowers organizations to use their logo, branding, style and terminology used within the organization.
9. Measures the impact and ROI of the learning program both on individual level and organizational level

CYPHER Learning- https://www.cypherlearning.com/

5. Lattice

Lattice is a People Management Platform which is cloud-based. It has a variety of tools and functions that cater to improving organizations employee development, performance and engagement levels majorly. Some of its key features are highlighted below:

Performance Management Features:

1. Goal setting and alignment with individual, team, and company goals on the platform itself
2. Various performance reviews and feedback tools like 360-degree, peer-to-peer, are available. 
3. Focuses on continuous performance tracking and development planning
4. Helps in compensation and reward management through performance analysis of the employees
5. Reduces burden off the HR team with automated and streamlined performance review process
6. Provides data-driven feedback which is transparent and real time. 

LMS Features:

1. Integration with in house HR tools
2. Has onboarding and training programs that helps in developing career growth of employees
3. Has employee engagement surveys and pulse checks
4. Promotes recognition and rewards programs to keep employees engaged
5. Allows employees to transfer Knowledge and collaborate with other employees
6. Provides access to learning resources and mentorship tools to support employee development

Lattice- https://lattice.com/

6. Effy AI

Effy AI is a performance management and 360 feedback software designed to revolutionize employee engagement and development. Some helpful features include:

Features:

1. Users can create/customize or use pre-built templates and questionnaires for performance evaluation including self-evaluations, peer reviews, manager evaluations and 360 feedback. 
2. Transparency on the platform eliminates biased reviews. Anonymous feedback option can also be selected if needed. 
3. Empowers HR and Managers to set goals at individual and team level. 
4. Shares continuous feedback which is structured and personalized. 
5. AI-powered analysis of the performance reviews for decision making in the areas of promotion, compensation and training. 
6. Suggests personalized development plans based on performance reviews and feedback.
7. Integration with other HR tools for seamless workflows is possible

Effy AI- https://www.effy.ai/

7. ADP Workflow

ADP offers several AI-powered tools within their Human Capital Management (HCM) platform, ADP Workforce Now. ADP has some features that leverage AI to automate and optimize HR processes. 

Features:

1. Helps with complex tasks like payroll processing and payroll validation
2. Tax registrations are also incorporated within ADP platform
3. Answers HR and payroll questions of employees without involvement of HR team
4. Provides personalized notifications to employees regarding payroll
5. Sends regular reminders about tasks to be performed
6. Suggests actions required to resolve issues
7. Frees up time of HRs and minimizes human error
8. AI reports generated are in an easy-to-understand format.
9. Analyzes market trends, company turnover to give insights on compensation

ADP Workforce Now- https://www.adp.com/what-we-offer/products/adp-workforce-now.aspx

8. Paylocity

Paylocity offers a comprehensive payroll solution with a wide range of features to meet the needs of businesses of all sizes. It is not a complete AI tool but it has in-built AI enabled features.

Features:

1. Automates the entire payroll process and supports multiple pay schedules
2. Calculates taxes as per the current tax laws of the country and offers filing of taxes accurately on time
3. Employee Self-Service portal allows employees to view their payslips and other tax documents, select benefits offered by the employer 
4. Integrates payroll with time and attendance tracking method of the user 
5. Provides a variety of reports and analytics to track payroll costs, understand compensation trends and make informed decisions 
6. Protects your employee information and data by using measures such as encryption, intrusion detection, and access controls.
7. Suits businesses of all sizes, from small startups to large enterprises.
8. Employee benefits like health insurance, retirement plans, life insurance etc can also be added in this platform.
9. Also offers tools such as performance management, onboarding, and learning management along with Human resources information system (HRIS) to manage complete employee data.

Paylocity- https://www.paylocity.com/

9. Visier

Visier offers a predictive people analytics platform that uses AI to help HR teams seek valuable insights from their workforce data. Here’s an overview of its key features:

Features:

1. Easily integrates with HRIS and other tools used to fetch the data. 
2. Has pre-built dashboards and reports templates for key HR metrics like talent acquisition, engagement, retention, etc. 
3. Customizable reports and dashboards according to specific needs can be created.
4. Uses AI to predict future trends and outcomes related to hiring, retention, and employee performance.
5. Translates data into useful insights and visuals. 
6. Helps in understanding the trends and patterns, identifies areas of concern such as engagement level, retention, hiring conversation, cost per employee, skill gap report, employee grievance stats etc which support strategic initiatives of the organization. 
7. All decisions are data driven and backed by facts thus eliminating biased decisions. 
8. Integration with other tools and applications for broader functionality.
9. Improves communication among all stakeholders due to visibility of data and transparency. 

Visier- https://www.visier.com/

Although these AI tools could prove to be useful in certain scenarios, there are some disadvantages associated with them, let us see some of them-

1. Initial integration costs might outweigh the benefits for smaller companies
2. Possible challenges with the use and adaptation of the  technology, users may need time and training to get used to these AI tools
3. Automation through AI tools may lead to lack of human connection and empathy at workplace
4. May not be able to assess soft skills and cultural fit in case of talent acquisition
5. Companies may not use all features of a AI tool due to integration problems with their existing processes
6. Data privacy concerns for both the employer and the employees. Third party or clients data Security may also get compromised. 
7. Customization based on the needs of the business may not always be possible. 

Hoping that this blog would help you in finding out which tool suits your needs the best. 

Also, you can write to us at shreya@mverve.com to share your recommendations of AI tools available in the market or your experience with HR tools used in your company. 

Thank you for reading!