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May 2, 2022

How AI-Driven Analytics Will Transform Executive Leadership

By: sanjay sathe

Siri. Netflix. Tesla. The list goes on and on. The idea of Artificial Intelligence (AI) has been around for decades. We’ve seen it referenced in pop culture over the years in everything from STAR WARS to the AVENGERS. That said, AI is more than all-knowing robots that provide their human counterparts with assistance and friendship. How can AI reshape your executive team on its current journey to transform organizational leadership? Let’s take a look.

How AI-Driven Analytics Will Transform Executive Leadership
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No longer just a buzzword or a fancy concept, AI is omnipresent in our lives. It is one of the most prevalent realities in modern business, making repetitive and mundane processes easier and error-free. Companies are utilizing AI-driven analytics for predictive intelligence, making data-driven decisions toward success and growth, while also automating everyday tasks.

The integration of artificial intelligence into business processes has been a breakthrough that has led to radical changes in the way organizations operate. AI is reshaping the leadership teams that are adopting it; the same way AI has reshaped our personal lives through the use of products like Alexa and Siri.

Talent acquisition teams, in particular, can benefit immensely from utilizing AI for better talent management. With competition for finding qualified executive talent rising, talent acquisition teams can’t afford to be behind the curve on this trend. It’s better to start integrating AI sooner rather than later to stay current and improve productivity. One way many talent acquisition teams are embracing AI is through people analytics. This is a data-driven method of tracking and analyzing people’s processes, functions, challenges, and opportunities.

AI-driven analytics can help hiring managers identify and retain the right talent. It’s well known that capable leadership teams inspire productive employees. An efficient leadership team keeps its employees productive, happy, and engaged leading to higher retention rates. This becomes possible when executive leaders are empathetic and attentive to employees’ overall progress. People analytics powered by AI provides data and insights into employee performance that are crucial to this process.

Today businesses understand the importance of developing highly capable and efficient executive leaders, and hiring managers acknowledge the importance of AI and analytics in developing these leaders. Here’s a look at some high-performing tactics applied by hiring managers to effectively integrate AI into the hiring process:

  • Data utilization for selecting executive leaders: Search internally before looking outside the company. This is where people analytics can come in handy. Analyzing this data can emphasize internal employees that are ready for the responsibility of executive leadership. Even when hiring externally, data collected through the application can be used to narrow down candidates. Be transparent about the selection process and shortlist based on data-driven probability analysis.
  • Encourage collaboration between departments: Instead of having all departments working in silos, AI delivers its best results when used collaboratively by cross-functional teams with diverse skills and perspectives. Even in the case of leadership, executives are more effective when they embrace a collaborative attitude. Collaboration always encourages innovation which is key to a company’s continued success and survival. 
  • Clearly state objectives and KPIs upfront: The most efficient teams focus on measurable results. AI-driven analytics helps clarify KPIs as well as to monitor progress, all while compiling data into a digestible format. 
  • Apply AI for routine administrative tasks. This frees up the time of your executives, allowing them to focus on more strategic work. This is one of the most effective ways to develop your in-house future-ready leaders who are well-versed with the company and its brand(s). 

In addition to the hiring process, AI can also be utilized to nurture existing managers towards future leadership roles. Many executives provide regular feedback to their team. AI can improve internal review processes by using automated data to identify who needs a “pat on the back” for their performance and who needs more coaching.

Executive leadership plays a crucial role in any organization’s success and growth. With the rapid advancement of AI, building an effective leadership team has become more efficient and data-driven. When your team can automate it will have a direct effect on their effectiveness.SucceedSmart executive recruiting software has revolutionized the traditional executive search industry. Our AI-driven platform matches the precise requirements of a job requisition to the exact criteria of a candidate’s profile, ensuring hiring managers are only presented with the accomplishments-based profile of superior candidates from SucceedSmart’s complete candidate pool. Transform your hiring process, and join SucceedSmart today.