Big Data is completely
revolutionizing business processes across diverse segments, but data is
meaningless without interpretation. This is where analytics has emerged as the
next big career option for those trying to climb the ladder of corporate
success. One of the key functions where HR Analytics is set to play a
disruptive role is Human Resources.
Companies across the world are hiring like never before, and they are now keen to utilize technology to make sure that they hire the right personnel and retain them for longer. There are several new technologies in the market that collect data to measure key indices such as hours, employee performance, productivity, wellness, and business performance. HR Analytics takes all of this data and establishes the key areas of improvement, hence playing a crucial role in the overall business strategy.
According
to Deloitte, 71 percent of companies view workforce analytics and employee behavior as a priority in
their organizations and 31 percent rate it as being very important. The
figures in the report also show that the importance of HR analytics for employee
experience is especially high in rapidly developing countries like
India, China, and Brazil, where there is a huge talent pool competing for jobs.
The figure is also above par in developed countries like UK, USA, Australia,
Netherland, Japan & Italy.
This shows that most
forward-thinking companies have realized the importance of HR analytics for employee
experience. As they adopt better technologies for HR, we are more likely
to see a massive change in the way we work. The most telling effects are
already being seen in two fields, recruitment and employee motivation, and the
transformation has only just begun.
This is the most obvious
area where HR analytics will come into play. Analytics will provide recruiters
with significantly higher levels of information about the prospects than what
they have now. The right analytics tool will crunch through public data in
order to provide a comprehensive digital picture of their strengths,
weaknesses, experience, and credentials. This will, in turn, enable recruiters
to focus more on the human process of hiring that includes assessing
interpersonal skills, talent management, leadership, and psyche evaluation.
Recruitment
HR analytics also opens up new
avenues for discovering and maintaining recruitment channels. Data can help the
company find exactly how recruitment channels are performing and accurately
measure its success rates. Consequently, this can power the development of
new and innovative recruitment channels such as competitions and
even video games.
Employee Motivation
Understanding the
employee is fast becoming one of the key priorities of businesses in the new
millennium. It has been widely demonstrated that the right set of employees can
take the business to higher levels and that people are not as replaceable as
many would like to believe. HR analytics will play a key part in motivating and retaining
employees.
This
has already been showcased by Sociometric Solutions, which puts sensors in name
badges to discover social dynamics at work. The badges monitor how employees
move around the workplace, who they talk to, etc.
One
of their major clients discovered that their more productive workers
were those who were allowed some leeway, such as being allowed to take their
breaks together in which they let off steam and shared tips about dealing with
frustrated customers. They took heed and switched to collective breaks, after
which performance improved 23 percent and the amount of stress in workers’
voices fell 19 percent.
These
are just two of the more obvious ways in which the employee experience is
likely to change in 2019. As the field of analytics develops, it will encompass
multiple other parameters such as employee safety and well-being, learning and
development, and business performances.
Companies will be on the
lookout for data analysts that can make all of this happen, so this is just the
right time to add data analytics to your skillset. If you want to enter the
world of HR analytics and open up bright new prospects for
your career, then just register for the Executive Certificate Programme
for HR Analytics by Nulearn. The Program has been designed and delivered by IIM
Rohtak. It’s an experience that can change your life.
