Transforming the HR Landscape with Big Data and Analytics
Big data has become all-pervasive. Businesses are leveraging the potential of big data in various ways, from devising workplace policies to endorsing data-driven recruitment process. Companies are increasingly harnessing the power of big data and analytical tools in the HR arena. Based on data accumulated from past hires, big data analytics helps HR personnel identify hiring patterns and analyze the progress of employees hired in the last few years, their expertise and experience levels, which eventually lead to hiring better employees. Data analytics plays a vital role in making smarter decisions when it comes to screening prospective candidates. The HR team can decide the skills, experience level, and academic competency they require in the candidates and accordingly data analytics can evaluate the massive volume of data collected about the employees to accelerate the decision-making process.
Apart from discerning trends and identifying patterns, HR data analytics also helps to identify the major obstacles in the hiring process. It becomes easier for one to identify where a candidate leaves the track in the recruitment process and understand why they do so. Big data analytics surpasses conventional HR tracking systems because it enables HR teams to work with evidence-backed information. Hence, it becomes exceedingly simpler to explain employees the impact of new company policies and approaches with statistics and facts. Most importantly, a data-driven applicant tracking system can significantly speed up the hiring process. By filtering the data amassed about each employee and pre-screening the applicants, big data analytics efficiently reduces the amount of time required to choose the best fit for an organization.