Let's face it. HR teams and CEOs will always face challenges. Historically, many problems arose due to lack of data. Thanks to HR analytics, companies are now better than ever. But they still need to accurately access them, process, align data with decision-making, and respond accordingly.
The urgent need to use talent data and analytics isn't new. Over 70% of executives mentioned people analytics as a top priority in Deloitte's Global Human Capital Trends 2016. But it's not just about improving HR. It's also about making your company better.
So why does talent data really matter?
Make Use Of Data Silos
Mention the words 'unstructured data' to a seasoned talent manager and you will be shocked by their reaction. The reality is most companies have talent data everywhere. And to leverage human capital, you need to make good use of it. Inactive and active candidates, onboarding, employee training, retention, performance, and recognition can all be forecast with big data.
Model And Predict Talent Behavior
By harnessing talent data you can get more information, more data points, and act accordingly. For example, you can model and predict talent behavior in areas such as:
Turnover: Predict the risk for most employee turnover in specific departments, units, locations, and positions. That can help you model possible scenarios and actions to take to minimize losses.
Talent Profiles: Build realistic profiles of the best candidates to hire, and those at risk for quitting prematurely. You can even create models of candidates who are more likely to be high performers and decide if they should be enrolled in fast-track programs.
Future casting: Predict and model possible changes that your company may experience due to political, economic or global changes, and the possible effect on talent recruitment and retention.
So where can you start?
You need the right HR analytics tool and the right people to help you harness talent data, overcome obstacles, and improve your business. And Swooptalent is a great place to get started.
We specialize in systems that improve the efficiency of talent managers and increase their productivity through data integration. Contact us today for an in-depth discussion and demonstration.