Mr. Patrick Gentry, CEO and Co-Founder of Sprout Solutions capably speaks about this topic:
Humans were a nomadic species who moved around a lot. There came the agrarian revolution when people started to settle down in a single location.
Population boomed. People became stable. Quality of life improved.
The Industrial Revolution came in the 1920s and amazingly advanced society to another level.
Now, we are in the middle of another revolution, the Digital Solution!
And this fundamental change on how data moves around the world is driving another wave of transformation.
Artificial intelligence (AI) has arrived. For example, an AI bot has started to write many of the media articles, and we cannot differentiate the articles written by humans to bots.
These 3 professional fields are also affected — Health, Lawyers and Accountants.
Low level jobs like reviewing contracts are affected by AI, and are affecting job prospects of newly graduate lawyers.
This is a chart on how the sum of human knowledge doubles:
Until 1982, knowledge doubles every 100 years. From 2020, IBM predicts sum of human knowledge to double every 11-12 hours.
According to a Google study, in 2017, the Philippines is dead last. We are half the size of the next country in the list.
We were dead last.
What’s awesome for us, by 2025, we are targeted to reach a third amongst our neighbors in Asia.
Digitalization in the Philippines is growing at an exciting pace.
And while it will lead to some discomfort, there are companies that help with that adjustment.
State of HR in the Philippines
Sprout has 250 HR practitioners who answers a survey yearly. Here were the results:
Timekeeping and leave management are still done 50% manually.
For 201 files, 70% still do it manually.
Majority of companies though capture attendance via biometric machines.
For processing payroll, 2/3s are now automated.
Performance management is still mostly done manually.
Applicant tracking is still at 70% as of 2018.
But 85% of HR practitioners hope to automate their processes.
HR houses a LOT of data that is NOT being utilized.
Data loss is a risk. Without automation, many opportunities are lost.
So there’s two solution to the problem:
1. Build a thorough data strategy.
Start finding out what the company goals are, and find out what data will be relevant in reaching those goals.
2. Invest in cutting edge technology that will help process data in a way you can use.
Sprout data is an example. It shows live on what type of demographics a company has:
Perscriptive analytics can possible predict turnover. Cool huh?
There’s a suggested solution included too — The system for example suggests a php1,000 increase in salary decreases churn by 37%.
Another example – You can see overtime increasing from February to June! It was due to staff training at client’s offices!
By targeting the problem, overtimes dropped in August.
For employee engagement, there’s culture fit, cognitive abilities, and personality in the workplace.
Sprout executed a DISC test:
And these were the sample results. Confusing no?
Candidate results are then compared to their colleagues in the same department and vs the top performers. This helps management make better decisions.
There’s a big wave of changes coming. Artificial intelligence is here. And HR needs to come up with a good investment strategy to help run the business.