Four For Friday: From Starting With Recruiting Data to Using Big Data
Every Friday, The DDR shines a light on the best data-centric articles and resources from across the internet, social media, and industry.
For many HR leaders, getting started with HR analytics is one of the more daunting tasks they face in the modern business world. HR is constantly lagging when it comes to data and analytics use (when compared to other business functions). And with HR data continuing to develop and evolve, now is the time for leaders to better understand the impacts analytics can have. This is the subject of this week’s Four For Friday.
Whenever iNostix meets with an HR professional to discuss HR analytics, they get asked the same question: “How can we best start in the fastest possible way?” Not surprisingly there is no standard answer to this question. However, they do provide five of their most common responses:
- Outsource your HR analytics support to experts
- Start a small pilot
- Think of these 4 approaches to kickstart your HR analytics
- Approach 1: Clustering
- Approach 2: Driver analysis
- Approach 3: Risk analysis
- Approach 4: Forecasting
- Add statistical forecasting to your important trends, such as turnover or absenteeism
- No need for big upfront investments in analytical technology
HR Analytics: Breaking through the wall in HR measurement (LinkedIn Pulse)
“Data and analytics are key to solving all kinds of business problems,” says John Poppelaars. Despite the benefits almost all business areas are seeing from using analytics, John says one function is lagging behind: Human Resources. He says that part of the problem is that most of the current HR analytics create little business impact and that HR doesn’t drive strategic change. Despite this, John believes that HR can turn things around and use data analytics to increase its impact on organizational decision-making.
“Big data analysis is helping organizations better analyze their customers, predict the competitive landscape and suss out emerging trends before they go mainstream — all of which helps companies maintain a competitive edge,” says Sharon Florentine.
But she also says that big data can be a game-changer internally as well. She explains how big data allows hiring managers to make scientific decisions as opposed to relying on gut feeling. She provides three areas where big data can have a huge impact:
- Reducing Turnover
- Leadership Development
- Measuring Diversity
How Big Data Will Develop (Talent Culture)
A key question looming over talent acquisition in 2015 is how will big data evolve within HR and beyond? “As business leaders, the big data space is only getting better and more organized to target candidates, clients and prospective customers more effectively through nimble platforms and streamlined practices,” says Dominic Barton, COO at Broadbean. Dominic goes on to provide a few examples of how big data will develop and grow throughout the remainder of 2015. Check his article out to learn more.
Interested in recruiting analytics and the future of big data in talent acquisition? Sign up for the Data Driven Recruiter blog.