A Human Resource Big Data Solution
“The goal is to turn data into information, and information into insight.” – Carly Fiorina, former executive, president, and chair of Hewlett-Packard Co. With industry focus on all things big data, predictive analytics and artificial intelligence (AI), one sector where analytics maturity plays an important role is Human Resources (HR). Companies already collate mountains of data every day about their employees through performance metrics, engagement indicators, and workforce planning – but what if HR departments could turn these data sets into employee insights? Nearly all HR processes can benefit from insights derived from analytics in some form.
Revolutionizing Learning and Development
Predictive analytics is a vital tool in improving employee learning and development. Providing the insights required to deliver more personalized learning to employees not only assists employees in reaching their full potential, italso provides insights into what learning programs correlate with career progression. Assisting in the assignment of more appropriate roles and better learning and development programs may ultimately help in retention rates.
Transforming Diversity and Inclusion Initiatives
Predictive analytics can also help organizations deploy diversity and inclusion (D&I) initiatives that actually resonate with employees. Analyzing specific gender or ethnic datasets can be used to create D&I initiatives that not only improve the workplace experiences of these populations, but also help retain your organization’s diverse talent pool.
Boosting Employee Engagement
Leveraging predictive analytics against employee engagement levels enables HR functions to make concerted efforts to intervene should these levels drop. Lowered engagement levels are a clear signal that your workforce is unhappy. This can be addressed by the HR functions teams protecting productivity levels and ensuring involved employees don’t become an attrition risk.
Optimizing Recruitment Efforts
Utilizing predictive analytics technology within your recruitment function not only helps reduce the time spent on new hires, it also optimizes your recruitment efforts. Integrating disparate HR and recruitment data sources with predictive analytics reduces cost-prohibitive employee turnover while also retaining the talent pool essential for future growth.
Getting ahead of the curve is dependent on HR professionals recognizing predictive analytics as a significant human capital management tool. The relativity of AI-powered tools such as predictive analytics within HR functions is indisputable and crucial to the overall commercial success of organizations in a continually shifting job market and workplace.