India is going through a digital revolution at a rapid pace. The advent of affordable internet connectivity has resulted in its increased adoption across industries. Amid Covid-19 lockdown, the internet and associated technologies have kept the world occupied. In fact, these technologies are undergoing further advancements.
In the midst of this, the HR industry has a pivotal role to play, especially with so many layoffs taking place due to an economic downturn and impending recession. One US-headquartered company with operations in India, Vega HR, is helping companies streamline their HR functions – right from hiring to retiring.
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Looking at the advancements India is going through with cloud computing, mobile applications, and SaaS in HRMS tools, it will present more opportunities for the HR sector. For this week’s Deep Dive column, we got in touch with Amit Kumar, Chief Product Manager at Vega HR, to discuss how the company takes advantage of technology to help companies streamline HR functions and employee well-being.
Vega HR’s First Year & The Training Model
Currently in their first year of operation, the Vega HR team had been exploring the idea of HR functions. They wanted to develop a platform that is exhaustive and addresses all the functions that the HR community deserves. In its first year of operations, it is piloting and implementing the platform across multiple client environments.
Vega HR has a training model in a place called learning management that mostly looks into everything, from self-paced learning to certifications and awards, analytics to timelines and reminders management, personalised learning, and more.
The training module helps employees with HR policy training, provides careers development plans, centralises learning, evaluates capabilities and competency management.
The Use Of AI/ML & Other Products
Vega HR software is a complete end-to-end recruitment software for hiring managers, recruiters, and candidates. It is designed to hire top quality talents with streamlined candidate sourcing, recruiting and onboarding experiences. Vega HR enhances recruitment team’s work by introducing automation at every stage of the hiring process.
While the future of work remains uncertain and managing the workforce has become a massive challenge, with most organisations compelled to adapt to a remote work pattern, Vega HR hopes to help organisations deal with HR functions better during times like these.
Its AI/ML-based candidate profiling can parse and rank candidate resumes from the database within seconds. Vega HR’s SaaS-based model means that one does not have to worry about scalability, security and storage. The automated and structured workflow shifts the focus from repetitive tasks to more strategic ones, and it also offers insightful dashboards that monitor key recruitment metrics to help optimise and expedite the process.
The AI/ML technology further helps HR professionals analyse attrition and predict employee talent churn. It then suggests patterns for an employee who does not seem very satisfied. The joining prediction module is another application of the technology, and helps HR manage pipelines better.
What makes Vega HR Different From Its Competitors
Vega HR offers more than recruitment and applicant tracking solutions. It connects with different applications within an organisation to provide strategic insights to ensure seamless functioning. More importantly, it helps companies make data-driven decisions, ensuring that each stakeholder is satisfied.
It also reaches out to a wider target talent pool and uses multiple channels to source candidates, like the integration of social media, job portals and third-party vendors. Also, it helps with candidate evaluation and collaboration, candidate onboarding, and provides robust recruitment analytics and dashboards, essentially taking into account the HR function holistically.
Vega HR is focused on offering new and additional features to make its experience seamless and more holistic. Right now, Vega HR sees their customers onboarding 300+ candidates. More than 10, 000 candidates have been assessed online, and more than 20,000 tests conducted using the adaptive test modules of Vega HR. In future, the company intends to use AI and ML further to get the numbers even higher.