AI Trailblazers in HR & Talent Acquisition | Market Insights™
January 22, 2021
AI Trailblazers in HR
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AI Trailblazers in HR
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AI Use Cases in HR
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Intelligent virtual agents’ (IVA’s) evolving capabilities: Key changes in the IVA market in the last 12-18 months are enabling IVAs to handle much more complex interactions which is driving the ability to serve specialized needs across industries and horizontals
The 2019 Economic Report of the World Employment Confederation shows that while agency work remains a core activity within the private employment industry, other services gained traction in 2017. Overall, the industry recorded positive growth rates, expanding its footprint worldwide. The evolution is also positive across all regions with countries like Mexico, Brazil, Spain, Italy and Japan becoming strong performers.
“We are constantly striving to improve that process and for this 2019 edition, we have updated our methodology to deliver a more accurate picture of our industry. We also work with external partners such as Staffing Industry Analysts and Everest Group to ensure the most complete assessment of the different HR services.”
Employers might consider a multi-faceted approach to better manage absences and accommodate for worker disabilities, and the index provided a few suggestions. They included using data to benchmark against industry competitors; investing in formal return-to-work and stay-at-work programs to support employee engagement and productivity; adhering to Family and Medical Leave Act (FMLA) best practices; and building a robust training program to teach managers how to identify conditions and communicate with employees, among other solutions.
Many companies, though, have turned to third parties to help them better manage their leave practices. Forty percent of companies with 1,000 or more employees outsource their FMLA management, as do 27% of companies with 50 or more employees, according to recent research. Additionally, the Everest Group has predicted that the global HR outsourcing market will continue at a rate of 6% to 8% growth for at least the next few years, exceeding $5 billion by 2020.
Everest Group, an outsourcing consultancy and research group, said outsourcing in HR is growing at 4% to 5% a year, according to its survey data. Outsourcing by HR is used mostly for transactional processes such as employee data management and the administration portions of payroll, benefits, recruitment and learning, according to Arkadev Basak, vice president at the company. Everest put the savings due to HR offshoring at 30% to 35%.
Research VP Anurag Srivastava will lead a session titled “Skills of the future: implications on talent acquisition” at the June 14 HR Club meeting in Poland hosted by ABSL (Association of Business Service Leaders).
Other experts in the industry will join Anurag at the ABSL event to discuss new development and trends, as well as their biggest concerns and how they are addressing them.
June 18, 2018
Colgate-Palmolive Services (Poland)
Sp. z o. o. ul. Taśmowa 7, 02-677 Warszawa
Poland
Anurag Srivastava, Research VP, Everest Group
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