A content directory about current trends in Human Resource Management for professionals and students. It captures reports and analysis of Employee motivation and Job opportunities globally. It covers areas related to Organisation Restructuring, Recruitments, Job Interviews, Workforce Motivation, Job Opportunities, Best HR Practices, Employee Engagement, Executive Search, Employee Lifecycle, Career journey, HR Trends, Employment laws, Career Coaching, Job Market trends etc..
Power of HR Analytics & Big Data and it's benefits
analytics is a methodology of deciphering data for creating insights on how
investments in human capital assets contribute to the success of four principal
executing strategic plans
is done by applying statistical methods to integrated HR, talent management, financial,
and operational data.
two most recent and major fields of study and implementation for Human Resources
have been, The Big Data, and HR Analytics. The power of HR Analytics
and Big Data has made companies make more informed decisions.
Companies so far had largely been dependent on “intuitions” based decision
making as a trend. With the advent of HR analytics, the official decisions have
become more promising and accurate across the board, worldwide.
is the most important reason for companies which are investing millions and
billions into talent management software and hiring subject matter experts
including data scientists, key statisticians, and data analysts.
let's spend some time to understand what HR analytics and Big Data really mean.
When an organization maintains a record of all its prospective candidates and present
& past employees, it means that the HR function has any time excess of that
data, making it easier to manage people and processes and get a better return
on investment on employees. Employee Hiring these days is also based on the
inputs through HR Analytics.
organizations are realizing that employees are the central bodies of their business,
it is the HR department that takes care of every aspect of these bodies. In
that way, the HR function becomes the central point for collecting and processing
the data regarding employee information, hiring requirements, salaries, promotions,
attrition, etc. But HR analytics does not just deal with gathering data on
employee efficiency. Instead, it aims to provide insight into each process by analyzing
data and then implementing it to take relevant steps to improve these processes.
are various aspects of the workplace where HR analytics and Big Data can be useful:
useful data could be all over the place and be worthless in the absence of a
proper HR analytics tool. This is why a desirable HR analytics tool could
use HR and big data analytics to interpret this useful data and transform it
into useful statistics. Once observable patterns are depicted, HR can
decide what to do with it based on the observations. Analytics are used to
examine the effects of HR metrics on organizational performance. In general
terms, analytics look for patterns in the metrics.
For example, using the HR Analytics, organizations can find out if the high
potential employees are leaving more often and can use this data to ponder over
ways of retaining and engaging these Hi-pots.
using analytics, organizations and their management can become predictive over
time. In other words, you can use the data you may already have to discover
answers to questions like which of my top performers are at risk for leaving
the organization in a few quarters, or distinguish which HR initiatives like job
enrichment, onshoreproject or long term
incentives will defer the decision of employees leaving your organization.
are 8 benefits of HR analytics:
Data-driven recruitment decisions
analytics helps HR and Line managers to make better choices based on historical
data. A great HR analytics tool can make a difference by enabling HR to easily
derive the best candidates to hire from the historical data.
example, if you hired 10 candidates and 4 out of them belonging to a
particular background couldn't qualify beyond a level, perhaps you will not
hire someone from a similar background again. HR analytics prevents you from
making such mistakes. Moreover, it also allows the recruiter to learn more
about candidates through online databases, applications, social media profiles,
job portals, records, etc.
Reduced Talent Scarcity
recruiting strategies provide insight to build a larger pipeline. With the
help of HR Analytics, it is easier to target potential candidates for a
particular position arising in the company. It is easier to understand the type
of talent required, the knowledge required along with other important aspects
that might be missed in a regular talent acquisition process. When the required
talent is scarce for a specific industry or a job role, HR Analytics helps in
identifying a Plan B for the next best talent which can be groomed into the role.
the company has enough data to provide to the experts to come up with accurate
statistics and patterns, the company can then use it to make the hiring process
fast and efficient. Hiring managers will know which positions in the company
require what type of talent, people, background & experience, along with the
type of people that will not be suitable. Then it becomes much more streamlined
to target a specific talent pool and get the much faster conversion for the
pipeline of candidates. Organizations are realizing they need to embrace a
data-driven culture to compete with others and attract top talent.
Improved Process Training
is a necessary requirement for any organization. Gaps in the training process can
increase the job errors leading to unwanted issues. In the present time, most
enterprises have started investing in good HR analytics and utilizing the
collected data and patterns to design their training programs. This method also
helps the organization identify if employees are making full use of the
opportunities and knowledge imparted to them during training programs.
Better Insights about performance
analytics also help the company look at the employee's professional life by
tracking, sharing, and analyzing performance-related data. This is the reason
why companies track and record the behavior of their employees with customers and
co-workers regularly. This employee's performance data is also used by the
hiring manager to identify great talents during Internal Job postings as well
as for promotions. This data not only provides more insights about the
employees but also shapes the strategies to boost employee morale, retention,
it comes to retention, HR analytics is an important tool to identify the
retention rate of employees. It tells the company about the major reasons why
employees leave and why they stay. There could be a variety of reasons ranging
from under-performance, compensation, lack of skills to anything else. HR
analytics could also be helpful in finding the gap areas where employees are
finding difficulty in meeting goals and targets. HR can use various methods
like employee surveys, team assessments, exit as well as on-stay interviews to find
out the reason for attrition and map out strategies to retain them.
Improved Employee Experience
your recruitment process becomes swift, it automatically gives a good
impression to candidates you want to attract to your organization. HR Analytics
methodology in turn helps in employer branding too. It makes the recruitment
process faster and the candidates don't have to wait endlessly to know whether
they are rejected or shortlisted. This gives them a better candidate experience
and improves the brand image simultaneously which gives your enterprise an edge
over your competitors.
More Productive Workforce
enterprises have a grip on the kind of people to hire for a job, it becomes
easier to expect better performance and productivity from employees. With
analytics, you get an understanding of the workforce and hence know what kind
of environment, policies, and teams will make them work hard and give you
results that you expect from them.
Future of HR Analytics & Big Data
renowned as well as few lesser-known organizations have actively started using
Big Data and HR analytics and have been reaping the benefits of the same.
Cognizant, HCL, Deloitte, Google, to name a few have been consistently making
use of HR Analytics as a daily practice.
experiencing huge changes in the HR landscape. Data analysis has taken over as
a necessary tool to move beyond intuitions and gut feeling, but it comes with its
own challenges. Once consensus is gained by removing peoples' apprehensions to
move beyond traditional ways, then human resource management solutions will
need to be chosen wisely to ensure goals are met.
to Machine Learning, organizations used to manage data in manual and
semi-automated ways. It would gather, store, analyze and process data to
produce statistics before the data became irrelevant and needed updating at
regular intervals. Moreover, there was a huge wastage of useful data that could
help enhance the organization’s performance if stored and assessed properly. No
data was being used and reused for multiple reasons and solutions, until now.
machine learning, we can understand patterns in Big Data and accelerate
business through automation. Resume parsing, for example, fast-tracks the
screening process by identifying the candidates with the apt skills and
education with existing data. Artificial intelligence also helps eliminate
human error while performing repetitive tasks. Other concepts allow matching
skills and qualifications of job seekers to provide a list of recommended jobs
and creating relevant personalized learning opportunities based on individual
learning history, goals, and preferences.
HR analytics and Big Data has been a game-changer for many years, these new
possibilities promise a plethora of potential from data insights.
analytics offers some undoubted benefits. It allows HR teams to significantly
streamline processes that reduce costs, reduce attrition, and consequently
improve the bottom line.
With task automation, you are
freed up to innovate and explore the human aspect of human resources without
spending time on tracking mountains of data from multiple sources.
Overall, the use of HR
analytics has been established as an HR technology trend, as it is posed to
improve the employee experience that directly translates into improved business