How AI Will Disrupt HR: Tectonic Shifts in HCM - Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent - Episode # 104

Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent

On this episode of Mission To Grow, we’re featuring a presentation delivered by Mike Vannoy at the 32nd SHRM Long Island annual conference. The presentation dives into the transformative impact of AI on the HR landscape and how HR professionals can adapt. Key topics include the intersection of AI and revenue growth, labor supply shifts, evolving HR laws, and the rapid technological advancements reshaping HR. The episode also addresses the profound demographic changes affecting the workforce and provides actionable insights on how HR can strategically align with revenue growth amidst these tectonic shifts

Takeaways:

• HR professionals need to look beyond immediate crises like politics and economic bubbles; the true driving forces are deeper shifts in labor supply, HR laws, and technology.
• Employees now hold more power and are making choices based on workplace flexibility and policies. Employers must adapt by offering competitive leave policies and remote work options to attract and retain talent.
• The rapid adoption of modern technology, like ChatGPT's meteoric rise to a hundred million users in just two months, underscores the need for businesses to stay vigilant. Companies must be ready for technological disruptions to avoid being caught off guard.
• HR professionals need to embrace AI technology to free up time from administrative compliance tasks for more strategic initiatives. By doing so, they can significantly enhance employee cultures and talent development.
• HR best practices strongly correlate with revenue growth, and HR must align itself with revenue generation to gain a respected seat at the senior table. Focusing purely on compliance will keep HR as a necessary but not strategically critical part of the business.
• Incorporating HR best practices significantly correlates with business growth, even if the practices are not perfectly executed. The key is that these practices indicate to employees the intent to improve and value their contribution.

Quote of the Show:

• “Technology is going to change HR. It just is. And so you can get run over by it, or you can embrace it and lean into it and use it.” - Mike Vannoy

Links:

• LinkedIn: https://www.linkedin.com/in/mikevannoy/
• Company Website: https://www.asuresoftware.com/

Ways to Tune In:

• Spotify: https://open.spotify.com/show/2XThTdn7YC1lkAm0PgZUkj
• Apple Podcasts: https://podcasts.apple.com/us/podcast/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent/id1725890976
• Amazon Music: https://music.amazon.com/podcasts/328dddd0-3c4f-4b07-a0d3-13bdcb418486/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent?refMarker=null
• Audible: https://www.audible.com/pd/Mission-to-Grow-A-Small-Business-Guide-to-Cash-Compliance-and-the-War-for-Talent-Podcast/B0CS71KQFM?qid=1706208857&sr=1-1&ref_pageloadid=not_applicable&ref=a_search_c3_lProduct_1_1&pf_rd_p=83218cca-c308-412f-bfcf-90198b687a2f&pf_rd_r=A1ME8MBECSVZ6K4D7CNT&pageLoadId=QBtg12mqKsuZPLGY&creativeId=0d6f6720-f41c-457e-a42b-8c8dceb62f2c
• Podchaser: https://www.podchaser.com/podcasts/mission-to-grow-a-small-busine-5591006