TeamLease HRtech is a part of TeamLease Group, one of India’s largest providers of a wide range of HR technology products. The company is among the country’s biggest HR Technology organizations with over 2 million employees on the HCM platform. It claims to offers 600 modules in the employee lifecycle from pre-hire to post-retire including core HR, benefits, and compliance on state-of-the-art cloud native mobile technology. In an interaction with Times of India, Sumit Sabharwal, CEO of TeamLease HRtech Ltd talks about how AI tech like ChatGPT may change and impact HRtech and more.
Q. How do you see the role of AI in HRtech grow in the next couple of years?
Artificial Intelligence has a lot of potential in HR Technology. It has many use cases to make HR managers’ jobs more efficient. For instance, modern applicant tracking systems are already using AI to sort, analyse, and select appropriate resumes during the initial stages of recruitment. Similarly, AI-enabled HR tech products can address candidate queries, schedule their interviews, and even assist them during the onboarding process; without any manual intervention. In future, we will see AI’s application in many more HR functions like training and development, employee engagement, performance management, compliance, etc.
Q. If we talk of AI alone, do you think it is beneficial to companies more, or talent?
AI is equally beneficial for employers and employees. For employees, it increases engagement, accuracy, and throughput. Whereas, for employers, it delivers higher profitability with the help of increased employee efficiency and productivity.
Q. What, according to you, are the pros and cons of use — and dependence — of technology in HR?
As per research, HR technology brings upto 21% improvement in administrative efficiency, up to 30% savings in time and cost, and up to 65% reduction in errors and duplication. In other words, HR technology improves an organization from multiple fronts.
If we talk about the cons, we can say that HR technology has not achieved the level of intuitiveness where HR professionals can use it completely without any external help. As a result, sometimes they need an introductory demo or small training session during new HR tech implementations in the organisation. However, HR technology is evolving rapidly to become more and more intuitive to its users.
Q. ChatGPT has been in the news quite a bit recently. How do you see the role of ChatGPT — if any — in HRtech?
ChatGPT is a product that uses generative AI. As the name suggests, the tech can be used to generate new content including text, images, audios, videos, etc. So, in HRtech, it can be used to fulfil content requirements like writing emails, developing L&D programs, posting job openings, solving employee queries proactively, etc. The HR space can reap numerous benefits with advancement in HR tech products accelerated by Chat GPT and other similar generative AI technologies. Most of the value will be unlocked by integrating it with other products, like API integration to exchange data and interact with other systems, Chatbot Platform Integration to build conversational interfaces, virtual assistant integration to provide voice-based conversational interfaces and so on.
Companies can feed their data to the system and train it for the needed objectives and NLP will ensure that the processed outputs are in the required format. Ultimately, the integrated HR tech products can interact with the database for inputs and outputs to automate and improve various tasks of HR management. ChatGPT can fit into different functions of HRM like recruitment, performance management, employee engagement, and other applications to make organizations more efficient in their HR functions. For instance, taking data-driven decisions, improving employee retention, facilitating separation, and much more. But, it’ll need the right technology integrations and consistent testing and improvements to its utility.
What is the future of HRtech? Which other forms of technology are dominant in the HR landscape across industries?
The future of HR technology will revolve around employee engagement. We’ll see many innovative products to improve company culture and employee experience. Companies will focus more on employee well-being and providing better benefits programs to attract and retain talent. HR technology will help employers to deliver optimal employee experience.
Q. How do you see the role of AI in HRtech grow in the next couple of years?
Artificial Intelligence has a lot of potential in HR Technology. It has many use cases to make HR managers’ jobs more efficient. For instance, modern applicant tracking systems are already using AI to sort, analyse, and select appropriate resumes during the initial stages of recruitment. Similarly, AI-enabled HR tech products can address candidate queries, schedule their interviews, and even assist them during the onboarding process; without any manual intervention. In future, we will see AI’s application in many more HR functions like training and development, employee engagement, performance management, compliance, etc.
Q. If we talk of AI alone, do you think it is beneficial to companies more, or talent?
AI is equally beneficial for employers and employees. For employees, it increases engagement, accuracy, and throughput. Whereas, for employers, it delivers higher profitability with the help of increased employee efficiency and productivity.
Q. What, according to you, are the pros and cons of use — and dependence — of technology in HR?
As per research, HR technology brings upto 21% improvement in administrative efficiency, up to 30% savings in time and cost, and up to 65% reduction in errors and duplication. In other words, HR technology improves an organization from multiple fronts.
If we talk about the cons, we can say that HR technology has not achieved the level of intuitiveness where HR professionals can use it completely without any external help. As a result, sometimes they need an introductory demo or small training session during new HR tech implementations in the organisation. However, HR technology is evolving rapidly to become more and more intuitive to its users.
Q. ChatGPT has been in the news quite a bit recently. How do you see the role of ChatGPT — if any — in HRtech?
ChatGPT is a product that uses generative AI. As the name suggests, the tech can be used to generate new content including text, images, audios, videos, etc. So, in HRtech, it can be used to fulfil content requirements like writing emails, developing L&D programs, posting job openings, solving employee queries proactively, etc. The HR space can reap numerous benefits with advancement in HR tech products accelerated by Chat GPT and other similar generative AI technologies. Most of the value will be unlocked by integrating it with other products, like API integration to exchange data and interact with other systems, Chatbot Platform Integration to build conversational interfaces, virtual assistant integration to provide voice-based conversational interfaces and so on.
Companies can feed their data to the system and train it for the needed objectives and NLP will ensure that the processed outputs are in the required format. Ultimately, the integrated HR tech products can interact with the database for inputs and outputs to automate and improve various tasks of HR management. ChatGPT can fit into different functions of HRM like recruitment, performance management, employee engagement, and other applications to make organizations more efficient in their HR functions. For instance, taking data-driven decisions, improving employee retention, facilitating separation, and much more. But, it’ll need the right technology integrations and consistent testing and improvements to its utility.
What is the future of HRtech? Which other forms of technology are dominant in the HR landscape across industries?
The future of HR technology will revolve around employee engagement. We’ll see many innovative products to improve company culture and employee experience. Companies will focus more on employee well-being and providing better benefits programs to attract and retain talent. HR technology will help employers to deliver optimal employee experience.
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