When it comes to the HR landscape, HR professionals have to keep up with fast-changing times in order to attract and retain talent. Toward that end, they are required to make informed business decisions by harnessing relevant information from data provided by intelligent analytics solutions.
Three ways HR professionals can benefit from essential big data and why these data are necessary to propel the business forward are:
1) Better New Hires
It is common knowledge that good talent is critical to the performance and progress of a company. HR professionals thus adopt various data analytics solutions to monitor behavioural patterns of job-seekers in order to strategically capture these talents.
Essential information gathered from data allow HR professionals to identify job seekers’ preferred social media channels to explore job opportunities and their receptiveness to different types of job ads.
Some examples of software solutions that HR professionals can optimise include CareerBuilder1, which tracks and analyses recruitment metrics and provides instant reporting to help HR professionals make better recruitment decisions. Other examples of such software solutions include Taleo and EmployeeBoss.
HR professionals can also leverage on data such as candidates’ work and personal information on social media platforms, their presence on online resume databases as well as records of past employment to help them make a more informed decision about a potential hire.
2) Better Insights into Employee Performance
Data gathered from performance management systems allow HR professionals to identify top performers who constantly exceed expectations, workers who meet their goals satisfactorily, those who struggle to perform and those who engender the ‘free-rider effect’. For instance, Workday provides HR professionals and C-level executives with a platform to oversee employee data.
With performance data on hand, HR professionals can justify the implementation of reward schemes and effectively boost motivation levels. It will also give them reason to establish proper performance improvement plans to help ‘lift up’ underperforming employees.
Furthermore, data derived from performance management systems will help HR professionals better understand the kind of training programmes their staff need.
3) Better Retention Among Employees
Some HR professionals choose to conduct exit interviews when employees tender their resignation – and their responses equate to meaningful data too. This data allows HR professionals to understand why employees leave and motivate them to re-look at business practices to make them more favourable for existing employees.
In addition, employee satisfaction surveys and regular team assessments help HR professionals glean information about fellow employees’ concerns, the kind of training opportunities they wish to receive and whether they are faring well in general. Data derived from these assessment tools allows HR professionals to reduce employee attrition and improve talent retention.
At the end of the day, big data is a big deal for HR professionals. However, they need to adopt new technologies to make sense of these data and as a result better understand their stakeholders, who include passive and active job-seekers, employees within the organisation as well as their own employers.
Article submitted by CareerBuilder.
“CareerBuilder Singapore was officially subsumed into the family of CareerBuilder US on September 16, 2014. CareerBuilder is the recruitment giant in the US and the global leader in human capital solutions. It also has a global presence in more than 60 markets and more than 2,800 employees worldwide.
Today, CareerBuilder Singapore has a multi-faceted team of more than 80 well-trained professionals. It aims to combine its global resources and expertise in the Southeast Asian talent recruitment arena to stay ahead of the recruitment industry curve.”
See also: 4 Reasons to Welcome Big Data in The HR Industry