Posted on Thursday, August 24, 2023 by Kimberly Dunwoody
The significance of human resources cannot be overstated.
HR wears many hats, from benefits expert to marketing communications specialist, and (sometimes) therapist. With so many outfit changes to go through, it’s essential for HR teams to lean into one of their best partners to help streamline their work and stay connected to their employees: Artificial intelligence, aka AI.
In recent years, AI has become increasingly prevalent across all industries, including HR and ben admin. AI can enhance the benefits administration process, help personalize communication between employers and employees, and help alleviate some of HR’s most time-consuming processes. This frees up HR’s time (and alleviates stress) so they can turn their attention back to more important things, like championing empathy in the workplace.
The future of benefits AI looks really bright for HR. Here are our top five predictions for how this intelligent technology will have a positive impact for our HR peers.
- Improved benefits diversity
Thanks to AI, employers can now customize perks based on what their employees actually want. Futuristically, we can expect to see an end to the cookie-cutter medical, dental, vision benefits packages. In fact, we’re seeing a lot of that movement happening now as more HR teams get their hands on the right data. But the processes HR has right now are pretty cumbersome. AI can streamline some of that work by analyzing your company’s population. Based on criteria like average age, health, and family status, HR can use AI to create personalized plans that check all the boxes for their employees’ wellbeing and help benefits teams evaluate their opportunities to diversify their benefits offerings.
- More efficiency
It’s no secret that HR work can be incredibly time-consuming. By automating repetitive and administrative HR tasks, AI will only continue to help liberate HR from mundane duties and empower them to tackle those more complex, strategic initiatives that they never had time for previously. Thanks to automation, organization leaders can also channel their energies and resources towards cultivating programs that benefit their employees, above and beyond benefits. This includes:
- Talent acquisition and retention
- Developing DEIB programming
- Analyzing employee feedback and organizational data to highlight gaps and opportunities for improvement in workflow and culture
- Analyzing business analytics and human capital data to look at resourcing opportunities
- And much more
- Expanding DEIB programs and reducing unconscious bias
AI can analyze vast amounts of data to provide valuable insights on DEIB-related initiatives. HR can use these insights to help identify gaps, track progress, and make smarter decisions to create an inclusive and equitable work environment. And AI can be leveraged to collect and summarize employee feedback through sentiment analysis to help HR leaders proactively address concerns, so we can expect to see boosts in employee engagement and increasingly more workplaces where everyone feels heard and valued.
- Predictive analytics
Over the years, HR has evolved from personnel management to being a key player in driving overall business strategies and goals. Predictive analytics models enable HR leaders to analyze data from various sources to anticipate future trends. With these insights, HR leaders can develop robust predictive models that guide managers in formulating, revising, or modifying policies that prioritize the welfare of their employees.
Data and analytics have become a significant component of our technological landscape. Now, we can leverage them to revolutionize the employee experience. Imagine personalizing the journey of each member. This could include benefits packages that are tailored to the individual’s needs. And, using predictive modeling to test scenarios before adapting benefits to accommodate ever-changing situations. With AI-driven insights, we also can tap into the power of employee feedback, using it as a guiding compass to shape future programming for a more responsive work environment. By embracing AI in HR, we position ourselves at the forefront of innovation, fostering a workplace where technology and empathy seamlessly intertwine to create a better tomorrow.
- Getting help, faster and easier
Of course, one AI improvement that Businessolver has incorporated for over 5 years is our personal benefits assistant, Sofia. Don’t call her a chatbot. The integration of Sofia in our HR technology offers employees a more convenient and straightforward experience. Employees can easily interact with Sofia as a true extension of the HR department without having to wait for a real-life HR person to help them. With Sofia, handling employee inquiries, employees have a better experience, and HR departments can get back to more important initiatives.
All in all, the integration of AI in HR benefits administration has revolutionized the human resources landscape. AI will continue to enhance employee engagement and improve employee welfare overall. The increased use of AI-powered HR systems will allow HR to work more efficiently and strategically to free up organization leader’s time to focus on evolving programs that benefit the employee on a personal level, making work a more enjoyable experience for all.