Advancements in the collection and management of big data analytics have paved innovative new paths for the workplace — especially within human resources departments. Now, most HR workers have a vast array of information on employees and potential hires, and this access doubles as both an efficient means of planning and a strategic engagement mechanism.
Here are a few ways HR departments are currently leveraging big data analytics.
Improved staff insight
Big data’s presence in the workplace has greatly sophisticated corporate interaction between executives and their employees. Analytics paint a vivid and useful image of employees’ professional lives, tracking a variety of performance-related data that may be used to improve motivation and overall engagement. At the same time, this information can be an asset to employee retention, allowing businesses to analyze and better understand why employees leave (and stay). Subsequently, these insights contribute to an overall success scenario in terms of employee satisfaction and assessment.
Data analytics have aided in streamlining the hiring process. Thanks to big data, HR departments now have “an opportunity to become more analytical and strategic in acquiring candidates,” ultimately narrowing their search to the best possible hires while identifying and avoiding red flags. This notion is crucial, as poor hiring experiences can result in lost funds (sometimes as much as $50,000) and can make the process longer than it needs to be. Data access essentially eliminates exclusive dependence on resumes and “gut feelings” and keeps employers focused on their best options.
Many workplaces have also leveraged big data when conceptualizing and planning for the future. In addition to strengthening the employee training process to ensure top-level output, analytics give businesses the “capability to dig into the data available” to them, using the present to better predict the future. Transparency, in this regard, is incredibly useful as it paints corporate goals as feats separate from any given point in time; the company’s success is one continuous arc in which present data and future data are linked and stand as influencing factors to one another — a comprehensive mentality that has been instrumental in building a progressive and in-tune workplace culture.