The human resources field is undergoing drastic changes. Thanks to data and analytics, automation is now becoming a major factor in recruitment. There are newer tools that are helping human resources and changing the way they function. Glassdoor and LinkedIn are a few examples of platforms that offer employers data irrespective of the size.
Human resource professionals with new-age technologies will be among the successful lot in the coming years.
Big data in HR and its impact
Big data refers to a massive amount of data that can be piled up with information related to an employee, transactional data, customer, etc. For instance, the human resources department will have information on talent or other related data such as performance ratings, age, skills, work experiences, prior job roles, educational background, safety record. Such information can be used and evaluated to improve hiring practices. Apart from hiring practices, HR professionals can also make use of these data for talent acquisition, retention, development and the performance of the organization.
Here’s how big data is changing the world of HR:
- Channelizing the best talent
With the help of data and analytics, companies are now able to diversify and move beyond traditional practices. They’re able to map skills that are set according to the company strategy allowing companies to have the right talent. For instance, HRIS can now sort the required profile by filtering the right keywords and skills.
- Employee Retention
Employee retention is now easier with the help of predictive analytics. From a simple headcount to predicting challenges and outcomes, big data now ensure they have the right strategy in retaining them. Employees naturally gravitate to organizations they’re more comfortable with and the ones that offer them with good perks and rewards. Using HR software, salaries and benefits of the employees can be optimized easily.
- Future casting
Software using big data analytics can now facilitate changes taking place in the organization – the impact of hiring talent, retaining and how engaging they can be. Using predictive analytics past information can be taken to predict the future and present situation. Doing so allows organizations to have better clarity regarding the current scenario going around and gain positive insight.
- Employee Productivity
Since the emergence of big data, the performance of employees has changed dramatically in the HR field. Performance metrics have been widely adopted by human resource professionals. Let us quote an example here, Bank of America now uses HR software that helps them study the movement and interaction among their employees. This also enabled them to find out the teams that bond the best and were the most efficient. Such insights are beneficial for employers to analyze the productivity of their talent.
- Knowledge management
Upskilling and training is a significant part of a workforce that undergoes a drastic change. Being able to go through the performance metrics of employees, the organization can develop strategies and training sessions based on areas that are lacking by an employee. This helps in bridging the gap between the employer and employee as well.
Newer tools and technologies will be needed even in the HR field with big data changing at a breakneck speed. Having said, HR professionals will increase. Organizations must now realize the need for re-skilling and train their employees making them ready for upcoming challenges. Over time, automation has become an important part of the human resource department. HR managers should be able to identify the right talent for the job.
The biggest problem today is the talent crunch. All this can be assessed accurately provided the candidate to follow the right career path. In a world where transformation is at a considerably higher pace, change is the only constant.
