According to a report by ASSOCHAM (The Associated Chamber of Commerce Industry of India,), the gig economy showcases a positive projection, which is expected to increase by $455 billion by 2024. In the last few years, the prominence of the gig economy has made headlines, thanks to the pandemic. In the post-pandemic world, the definition of a gig has become even broader. From driving uber, delivering goods or food to graphics designing, writing and coding, everything has become part of a gig. Indian companies are also welcoming the gig economy by making changes in their workforce culture. A lot of companies, be it smaller or mid-cap or large, are transitioning to hybrid models to adjust to the new working norms better.
The primary reason behind this is that due to the demand for work-from-home during the COVID-19. It has presented a new culture in front of employees, and organizations to do their work. Though a hybrid workforce brings a number of benefits to the table but it also brings a lot of challenges for HR along with it. Managing people and maintaining productivity among employees across the globe can be difficult. Thus it will become important for HR to rely on relevant technologies to manage business operations.
In such a dynamic business environment, implementing AI technology is becoming necessary for organizations. Here’s how with the help of AI, HR managers can empower their gig employees.
Communication and Collaboration through AR & VR
Technology has helped companies sail through the pandemic, and bring employees closer. Indeed, it connects teams no matter where you’re located. Technologies such as AR and VR- enabled video conferencing platforms will revolutionize communication. Through this technology, HRs can create an inspiring virtual environment for all the employees to meet, interact and collaborate. When combined with AI-driven data, AR and VR can also be used as an important tool to educate the next-gen employees with high-risk jobs.
Performance Management through Artificial Intelligence
It is difficult to analyze productivity when the employees are working across different parts of the globe. Implementation of proper AI technology solutions can help HR managers analyze performance gaps. Through the data extracted, managers can look for ways to improve productivity. Though this data will be extremely helpful, one thing HR would need to ensure is that the data extracted is encrypted and strictly adheres to protect employee privacy.
Focus on Learning and Upskilling
With the help of AI algorithms, HR professionals can create personalized training modules to suit every employee’s requirements. With the help of Artificial Intelligence HRs can also create an internal talent marketplace, and connect employees to new and suitable opportunities suiting their skillset. This will help companies improve employee satisfaction by providing them opportunities to grow.
Empowering and Engaging the Workforce
Good company culture is where every employee is not afraid to speak their mind when required. Technologies such as Voice of Employees (VoE), the analytics, driven by AI will help employees give that definite voice. This technology will help HR address the employee grievances about the organization’s culture. The data extracted will help HR leaders analyze how satisfied their employees feel with the current work culture norms. Employee feedback can help HR improve relationships and create a better hybrid work culture.
Hiring Solutions through AI and Talent Marketplaces
By automating time-taking mundane tasks, AI will help HR managers improve productivity by a huge margin. Managers can automate tasks such as job matching, scheduling, and screening processes.
AI-powered external talent marketplaces such as FlexC will become a one-stop solution for HR leaders to find and hire both gig workers and permanent staff for their organizations.
Through external talent marketplaces, HR managers will be able to manage all their hiring requirements in one place. Platforms like FlexC and others will revolutionize the hiring process completely, by helping HR departments become more proactive, and nurture better relationships with candidates.
Preparing for Uncertainty through Digital Twins
A digital twin is a computer program that uses real-world data to create simulations that will help managers predict the performance of a product, process, or service. Companies are installing Digital Twins technology to future-proof their organizations. Digital twins can help companies become capable of facing any adversity. Digital twins will help HR can experiment with different scenarios and extract data. With the help of extracted data, managers can improve their strategies to make their companies resilient.
Apart from these popular technologies, AI-enabled chatbots, IoT devices, and SaaS platforms will also play a significant role in revolutionizing the future workforce and workforces.