Will AI Eclipse Your Appraisal Chances This Year?
Feeling a bit uneasy in the office lately? There is a quiet concern making the rounds – it's all about artificial intelligence and the worry that it might mean fewer opportunities and smaller appraisals. As this concern becomes more noticeable in our day-to-day work, it leaves us pondering a simple question: Is AI subtly molding our careers and playing a role in the appraisals we are all waiting for?
In the quest for answers, we turn to industry experts, seeking a deeper understanding of the intricate interplay between AI, digital technologies, and their impact on salary increments and appraisals.
The data suggests two out of every five professionals focused on getting certifications and pursued additional training between 2021-2023 to secure a salary increase or a promotion during their job performance reviews. This trend shows a strategic focus on upskilling within the workforce, especially in response to the recent strides in AI.
It's really important for employees to understand the benefits of upskilling and reskilling as it directly correlates with improved chances of salary increments and appraisals, believes Munira Loliwala, AVP- Strategy and Growth, TeamLease Digital.
Different industries are adopting AI in various ways. Some tasks that are repetitive and routine can be done by AI instead of people. This means some jobs might change or be done by machines. But at the same time, new jobs will be created to help and support these new technologies. “About 70 per cent of workers expect to get paid more if they learn new skills, especially with the increasing use of technologies like AI. This anticipation is substantiated by the observation that positions related to AI currently command salaries that are 77 per cent higher than their non-AI counterparts,” adds Loliwala.
While apprehensions persist regarding the potential automation of routine tasks, Santana Ramakrishnan, the Chief Human Resources Officer at Carl Zeiss India, highlights the flip side – the emergence of new opportunities and an increased demand for skills in emerging technologies. He thinks that professionals specialising in AI-related areas may witness heightened demand, potentially leading to salary increments in the future. This perspective challenges the notion of AI as a threat to traditional roles, presenting a paradigm shift where adaptability and the embrace of new technologies are viewed as opportunities for personal and collective growth.
Putting light on the reshaping of salary criteria propelled by the rise of AI technologies, Krishna Vij, Business Head at TeamLease Digital, notes the increasing investment in in-house AI expertise, leading to adjustments in compensation structures. Vij predicts that future salary growth may hinge heavily on employees' ability to upskill, particularly in emerging technologies like AI, cybersecurity, and blockchain. While impacting entry-level AI salaries, this paradigm shift also recognises the premium placed on highly specialised talents, influencing the overall compensation landscape as organisations prioritise workforce development and retention.
Hariharashudhan VK, the Director and COO at Neokred, acknowledges the complexity of AI's impact on salary increments. He identifies discernible patterns, such as the automation of routine tasks and a growing demand for AI skills. The continuous skill updates ensures competitiveness in an AI-driven workplace. In this context, employees are encouraged not only to adapt to the evolving landscape but also to strategically position themselves for potential salary growth opportunities.
The surplus value created by AI optimisation doesn't always translate into higher wages for remaining staff, argues Akshat Saxena, CEO at Froker. Instead, Saxena suggests that increments may become closely tied to an employee's proficiency with AI, their role in enhancing AI-driven processes, and their contribution to strategic areas that AI cannot address directly.
In response to the fears and uncertainties associated with AI integration, industry experts propose a set of supportive measures that organizations can adopt to navigate this transformative journey.
Transparent Communication: Establish clear and transparent communication channels to keep employees informed about the purpose, benefits, and implications of AI integration. Providing regular updates on the company's AI strategy, its impact on job roles, and the broader organisational goals can help dispel uncertainties.
Educational Initiatives: Implement educational programs and training sessions to familiarise employees with AI technologies. Offering opportunities for upskilling and reskilling can empower them to adapt to the evolving technological landscape and feel more confident about their roles in an AI-driven workplace.
Cultivate a Learning Culture: Foster a culture that values continuous learning and encourages employees to embrace new skills. Establishing platforms for skill-sharing, mentorship programs, and collaborative learning environments can create a supportive atmosphere that mitigates the fear of becoming obsolete.
Highlight AI as a Collaborative Tool: Emphasise that AI is designed to complement human capabilities rather than replace them. Showcase instances where AI enhances productivity, allowing employees to focus on more strategic and creative aspects of their work. Positioning AI as a collaborative tool rather than a threat can help alleviate fears.
Address Job Insecurities: Proactively address concerns about job security by emphasising that AI is intended to augment human capabilities, not replace jobs. Communicate the organisation's commitment to workforce development, offering retraining programs and assistance for those whose roles may be impacted.
Provide Support for Upskilling: Establish support systems for employees to acquire new skills relevant to the AI-driven landscape. This can include financial support, dedicated time for learning, and recognition or incentives for those actively engaged in upskilling initiatives.
Engage in Open Dialogue: Create forums for open dialogue between management and employees. Encourage discussions about concerns, expectations, and potential challenges arising from AI integration. Soliciting input from employees can foster a sense of inclusion and allow the organisation to address specific fears proactively.
Human-Centric Approach: Maintain a human-centric approach to decision-making. Ensure that employees feel seen, heard, and valued. By prioritising the human element in the workplace, companies can build a sense of trust and camaraderie, reducing anxiety related to AI implementation.
Offer Mental Health Support: Recognise that technological transformations can be stressful. Provide access to mental health resources and support services to help employees manage anxiety and stress associated with the changes.
Regular Feedback and Recognition: Implement regular feedback mechanisms to assess the impact of AI on employees' work experiences. Recognise and appreciate individuals who adapt well to AI technologies, showcasing success stories and creating positive narratives around AI integration.
By adopting these strategies, companies can proactively address employee fears, foster a positive work environment, and ensure a smoother transition into an AI-integrated workplace. Lastly, address job insecurities by showcasing AI as a productivity enhancer, allowing employees to focus on strategic tasks. By fostering a positive culture of continuous learning and transparent communication, AI becomes an empowering tool, enabling employees to thrive in an evolving landscape.
The connection between AI, salary growth, and appraisals is complex. As AI becomes an intrinsic part of our professional landscape, the narrative shifts from anxiety to strategic adaptation. Insights from industry experts offer a compass for organisations to embrace AI integration positively, ensuring fair compensation, ongoing learning, and a collaborative future. Promoting a culture that values human potential is the linchpin for confidently handling this transformative journey. In a nutshell, by tackling challenges head-on, companies set the stage for remarkable growth and success. As technology advances, the real opportunity is to create a future where AI and human abilities blend seamlessly, taking us to new levels of innovation and success.
_20240501181242original_image_36.webp)