Digitization-How will HR be affected?
Big data, a term which can no longer be ignored. It is a buzzword which is pulsating in all domains of business, be it marketing sales or HR. Once it was considered to impact only the techies but that notion is no longer true, now it has spread its web everywhere.
The term “Big Data” (or “talent analytics”) refers to the use of advanced analytics tools and programs to look at vast amounts of employee, customer, and transaction data. Organizations should have digitization embedded in every part of it. Being a very important part of the organization HR has to embrace this revolution as well. Here are the reasons why it is time for the HR department to get involved with the big data.
1. Improved Insights- This term has gained such a major importance and it has its reasons. Data is very important while taking any decision regarding employee engagement, shifting of responsibilities, inter-departmental transfers etc. Workforce data makes monitoring of employees easier for the employers. Working trends and performance evaluation reports comes handy in proper appraisals of the employees. It also helps in framing practices to conduct training sessions to increase the performance.
2. Better quality of recruits — Imagine this situation, you have gone through a plethora of interview process to narrow it down to two final candidates. Now, both have their own forte; and you wish if you could know something, some other data, some other stories from their past. Will you feel only if you could get into their minds to gain a complete visual of their attributes? No longer you will have to wish, with the help of big data, you can have all the details about him. Big data arms HR professionals to indulge in strategic and analytical talent acquisition. All their data from the social media and job sites can be pooled to provide you with a better peek into their employment trends. This will not only enhance the quality of your hires but also making the sourcing process much easier.
3. Employee retention- One of the major benefits of HR embracing the big data is to increase employee retention. With the millennials forming more than half of the present workforce, analysis provided from the big data will help the HR to find if the present work environment is not employee-friendly, identify issues from their exit formalities, feedbacks etc and help understanding the grievances.
The Digital Tsunami is here. It’s time for the HR to embrace it and use its full potential for a faster and smoother process. It will be beneficial for both the HR and the employees.