Part 3 of series- Optimizing Human Capital for efficient output
It is no longer a point of discussion, that a relentless focus on and alignment between customer experience (CX), and employee experience (EX) is critical to an organization's success.
Employee Loyalty fosters Customer Loyalty. Creating a sense of value in the workplace affects retention. Extending the argument, the same applies to customer appreciation which tends to reduce customer dropouts and enhance retention. Simply said, happy employees create more happy customers!
Great EX leads to better CX and vice versa!
Companies that spend time ensuring their employees are engaged outperform their competition by 147%. Furthermore, an employee engagement benchmark study says that 79% of employees who work at companies with “significantly above average” customer experience in their industry consider themselves “highly” or “moderately” engaged. This compared with only 49% of companies with “average” or “below average” customer experience.
AI is already finding its way to transforming CX. But exploring its application across EX allows organisations to empower their people who in turn delight their customers! CX leaders worldwide face a massive challenge in workforce engagement as they move to a hybrid working model. While employers are looking to improve quality and the overall customer experience, it is crucial to realise that the path to that is to empower and augment their employee interactions through technology.
Will AI replace humans?
So much has been said about AI or robots replacing humans and diminishing jobs in the corporate world. The truth could not be farther than that. Having said that, AI does hold immense potential to disrupt HR functions and exploit its potential benefits to use cases for meeting organizational goals allowing them to perform activities better, faster and cheaper
As quoted from the Oracle Future Workplace AI at Work Global Study 2019 -
· 50% of workers are currently using some form of AI at work, compared to 32% last year, with workers in some countries adopting AI over 2x more than others.
· The majority (65%) of workers are optimistic, excited and grateful about having robot co-workers, and nearly a quarter report having a loving and gratifying relationship with AI at work.
· Workers in India (60%) and China (56%) are the most excited about AI, followed by the UAE (44%), Singapore (41%), Brazil (32%), Australia/New Zealand (26%), Japan (25%), US (22%), UK (20%) and France (8%).
· Men have a more positive view of AI at work than women with 32% of men optimistic vs. 23% of women.
AI can be a game-changer for HR
With its data-driven insights, AI is making HR more strategic and impactful. Automation reduces the administrative burden, allowing HR professionals to focus on core issues like employee engagement and talent management.
It can automate recruitment processes, making it easier to find top talent. Onboarding becomes a breeze with personalized experiences using AI-powered chatbots. Employee engagement gets a boost as AI helps identify patterns and address issues.
Plus, learning and development become super tailored, predicting attrition and enabling data-driven decisions. With AI in the mix, HR professionals can work smarter, focus on what really matters, and take their organizations to new heights of success, bringing a whole new level of efficiency, accuracy, and effectiveness to the table
Human-centered AI for HR is like putting people at the heart of AI. It’s an approach that focuses on using AI to enhance HR processes while ensuring that the human element remains central.
By prioritizing employee well-being, engagement, and personalization, human-centered AI in HR aims to create a harmonious balance between technology and human interaction. It’s about leveraging AI to empower HR professionals to make more informed decisions and create a positive and inclusive workplace for employees.
5 ways that are transforming HR experiences and results using AI
1. AI based intelligent recruitment
AI-powered tools are revolutionizing the recruitment process by automating repetitive tasks like resume screening, candidate sourcing and initial interviews
2. Create enhanced employee engagement.
By providing personalized experiences and timely interventions thru AI based data insights
3. AI data-driven performance management.
It is made more objective by leveraging data analytics to provide more accurate and unbiased insights.
4. AI based learning and development
Personalize training content based on individual employee needs and preferences
5. AI based Predictive analytics for Workforce Planning
AI algorithms can identify skills gaps, predict attrition rates, and recommend talent acquisition and retention strategies by analyzing historical data, demographic trends, and external factors, allowing HR professionals to make proactive decisions and align the workforce with the organization’s long-term goals.
Conclusion
As Artificial Intelligence continues to evolve, it will play a pivotal role in shaping the future of work and driving organizational success in the digital age. When employees feel supported, valued, and motivated, they deliver exceptional experiences for customers and fellow team members.
Positive interactions at every touchpoint create a self-reinforcing and seamless experience for customers throughout the lifecycle journey, leading to enhanced customer experience.
If you think this post was helpful, then check out the upcoming CX trends. So, that your innovation department can innovate around them to elevate your business.
Also, if you need any help regarding your business’ customer experience connect with us anytime at anjali@c-xcel.com or call us at +91 9599496661.
You can also listen to us on our C-Xcel podcast!
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