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By Ganesh Nikam
From Common to Crucial, AI is advancing rapidly, covering the entire spectrum of complexity of business activities and tasks. Each passing day, AI technology, applications, case studies are encompassing areas which seemed untouchable yesterday and alarmingly the velocity of progression is geometric. With its ability to process vast amounts of data, identify patterns, and generate actionable insights, AI has emerged as a powerful tool for HR strategy and decision making within the biopharma industry.
One of the key areas, where AI has made significant inroads in the biopharma industry, is the domain of mass recruitment. Pharma sales, which is virtuously called as Medical Representatives (MR) constitutes the biggest section of the work force and coupled with traditionally high attrition rates, the recruitment function is always on the toes. AI-powered algorithms can shift through numerous resumes, screening candidates based on predefined criteria and identifying those who possess the desired skills and qualifications. This not only saves time and resources but also increases the chances of finding the most suitable candidates for specific roles. For a well-defined role with clear competencies identified, pharma sales recruitment is moving a notch higher where in automated skill test, interviews, behavioral and gesture analysis, soft skills assessment is being done in patches and will be done completely in near future by an AI agent. As a critical HR function, recruitment and talent acquisition has finally entered the MATRIX.
AI technologies’ primary targets routine and repetitive tasks and Operational HR, which consists of query resolutions, policy clarity, new employee orientation, change communication, grievance handling is increasingly being made automated, intelligent, and personal. With vast capacities to record previous queries, draw valuable insights, find patterns and feed on a new set of broader data sets, AI-driven chatbots and virtual assistants have become integral parts of HR departments. AI chatbots are further entering into training and counselling realms and due to their objective design, guidance and advice is increasingly becoming effective, bias free and personalized. AI-powered chatbots free up HR professionals to focus on more strategic and value-added activities
Well, all of us have, while working in an organization, given a 3 or 4 rating out of 5 to all parameters in an Employee Satisfaction Survey, and the HR friends of ours would have got some brawny points internally. Few of them would have further acquired some Best Employer Award in the Industry for the company. But on a casual coffee break, we all know what our real ratings were. Enter AI, and the invisible agent will get the real impulse from employees’ written communications, surveys, performance reviews, exit interviews and should not only be able to paint the correct picture of employee engagement, but also suggest relevant actions. HR partners should be able to monitor and maneuver real time and gain valuable insights into employee satisfaction, identify areas for improvement, and develop targeted strategies to enhance engagement and productivity.
Contemporary, coherent, and comparative data is the biggest contributor to a great decision-making process. At Strategic HR, the decision-making process first, needs a lot of current industry level data for benchmarking, particularly in the areas like compensation, organization hierarchy, designations, product pipeline, attrition numbers, policies. Second it needs quick insights with scenarios, SWOT analysis, cost tradeoffs and data driven options. AI has just begun making inroads into this strategic and board HR decision by making available up to date and frequent benchmarking data, market trends and historical data to give the overall context. Now on top of that intelligent and predictive analytics models are being built to assist in making informed and quick decisions. Manpower planning, competitive compensation grids and policy rearrangement are some of the critical decisions where AI is being used currently in the HR function.
AI has become an indispensable asset for biopharma HR strategy and decision making. From talent acquisition and employee engagement to workforce planning and retention, AI-driven solutions are transforming HR practices within the industry. By leveraging the power of AI, biopharma companies can gain a competitive edge by making data-driven decisions, enhancing employee satisfaction and productivity, and ultimately driving their organizations towards success in an increasingly complex and dynamic landscape. And who knows, very soom AI would eventually solve the holy grail of HR , finding the perfect match of a job and its incumbent.
The author is managing director, CEO, Biojobz
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