Importance of Business Analytics for HR Professionals -

Saturday, December 29, 2018

Importance of Business Analytics for HR Professionals

The process of recruiting a right candidate is difficult. An HR has to flip through hundreds of resumes to choose the best ones. Employing manual screening, the procedure becomes difficult, error-prone, and lengthy. For this reason, having an HR analytics system in place can save you much time.

Hiring-as a procedure is data-driven. The use of data and effectual analytical processes can be excellent tools for a recruiter. It not only saves valuable time in screening the resumes but also helps in faster and enhanced decision-making. The insights produced can drastically assist human resources (HR) to measure how successful an employee would be in the company.

Advantages of integrating data analytics in the talent acquisition and retention procedure:

Collecting the right data
Candidates’ data can be tabulated into different parameters like age, qualification, years of experience, etc. This data can be combined and ranked based on the requirement of the profile. Recruiters can also unify candidate’s public data from different social media platforms to put in value to their profiles. This would give in better returns in the form of appropriate hires which can enhance the overall quality of the company. However, recruiters require keeping in mind that overpopulating the date with needless attributes might confuse the recruitment process.

Data cleansing
Once the data is collected, it needs to be cleaned to feed it to different models. This is the most important step where a small error might skew the overall result. A lot of tools have advanced options to slice a large volume of data. The incidents of resumes with exaggerated facts and false statements are increasing every day. By identifying such profiles at this step, recruiters would be able to select right candidates for the profiles they are searching for.

Applying Analytical Techniques
By using analytics, professionals decide whether new candidates meet expected performance levels to contribute to the achievement of the company. With factors such as candidates’ achievements, period at previous companies, employers would get a clear signal of whom to hire for the position. Predictive modeling helps organizations to match the correct candidate to the right position by recognizing the traits that differentiate high performers.

Attrition Analytics
Machine learning can be taken into use to build models to know the probable employee attrition rate in the approaching time. It uses parameter like age, income, years at the company, satisfaction level, and other significant factors to recognize how many employees are on a watch for a change. This analysis can be utilized to take preventive measures and keep valuable workers in the organization.

Analytics can assist recruiters find a vast range of candidates they would not get using conventional search methods. It can assist them get the best cost per recruit, and also enhance their job postings response. This allows organizations to attain better responses to their jobs postings depending on different factors such as duration, location, occupation, and industry.

Human Resource Analytics allows for improved processes that enhance human aptitude and efficiency. People are crucial to the success of any organization. With the correct use of analytics, companies would be able to draw right competencies, manage talent, employ capacity, and keep employees for long-term success.

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