Companies are investing more in AI than in hiring and retaining talent. 60% of business leaders say they are increasing spending on AI technology and tools, according to a new study from GP. However, investing in AI and talent are not mutually exclusive.
In reality, business leaders should not view technology and talent as opposites. AI can significantly improve recruiting practices and employee satisfaction by working hand-in-hand with human labor to enable more informed HR practices, improve HR processes, and ultimately increase employee retention.
How can the right AI implementation help attract and retain talent?
Head of Human Resources at GP (Globalization Partners).
Attracting the new “Generation Global” workforce
As new generations enter the workforce, employers are increasingly forced to meet the demands of modern technologies, flexible working and a digital work environment. The newest generation of workers – Generation Global – is particularly open to globalization and embraces technologies such as AI.
This generation has a tremendous interest in exploring new technologies and increasing the efficiencies they can achieve in their roles. They believe it will give them better career opportunities, serve as a catalyst for greater flexibility in the workplace, and allow them to focus on more creative, value-added, and impactful tasks. In fact, by 2030, nearly 60% of the workforce will be made up of Gen Z and Millennials, and 68% say they would consider leaving their jobs if their company did not meet their digital experience needs.
Only by adopting a corporate culture that provides access to cutting-edge AI tools and technologies can companies attract the tech-savvy new generation of employees to their workforce.
Enhance, don’t replace: Balancing AI integration with a human-centered approach
Companies need to develop strategies where AI technology complements and supports human work, making it more efficient and scalable, rather than replacing it. This approach is especially important given that 84% of executives plan to invest more in AI this year.
Significant investments in AI should not come at the expense of human capital or workforce development. Maintaining a balance is critical for long-term success and employee satisfaction.
A human-centric approach is critical to retaining talent. Balancing technology with employee wellbeing ensures a motivated and engaged workforce. While Generation Global may be excited about AI, companies must not forget that humans are at the heart of the technological revolution. Maintaining a human-centric approach is key to retaining top talent and driving long-term employee retention.
Inclusive approach to AI adoption
Using AI offers company-wide benefits that go beyond technical roles. Even non-technical roles can use AI tools to improve job performance and help everyone become more effective and efficient. Adopting AI as a comprehensive strategy can benefit the entire organization.
Yet, according to GP surveys, 81% of companies said their organization has an established AI program, yet almost all (97%) executives had concerns about their AI plans or goals. This suggests that companies are just beginning to understand the potential of AI and need more clarity on AI tools to ensure they can effectively leverage its potential.
Yet AI is increasingly seen as essential for businesses. More than two-thirds of business leaders believe AI is critical to global operations. The role of AI in the workplace is critical to operational success and increasing employee satisfaction in the evolving global marketplace. Incorporating AI into business strategies and processes is not just about staying competitive; it’s also about creating a work environment that is attractive to the new generation of global talent.
Ultimately, through thoughtful and ethical integration of AI, companies can optimize their workforce and ensure they attract and retain the best talent. It’s clear that a comprehensive AI adoption strategy can provide tools and efficiencies that benefit all employees – both technical and non-technical – and better ensure future business success.
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