Four For Friday: Have We Entered the Age of HR Analytics?
Are we also living in the age of analytics? While not as impactful as the Internet, big data and analytics play a much larger role in our lives every day than you might think. HR is no exception, with many saying that the Age of HR Analytics is upon us. This is the topic of this week’s Four For Friday.
“Organizations are entering a ‘golden age’ of HR predictive analytics, and progress could accelerate in such areas as recruiting and retaining talent, and scheduling of workers, according to a worldwide study of business and HR leaders,” says Dan Ring, writer for SearchFinancialApplications.com. Citing the Global Human Capital Trends in 2016 report from Bersin by Deloitte, the rise in HR analytics use is one of the top ten trends. Learn more in this article from TechTarget.
A Note To Recruiting Leaders: Reporting Is Not Analytics (David Green)
According to David Green, Global Director of People Analytics Solutions at IBM, many talent acquisition leaders confuse analytics with reporting and metrics. “Reporting is not the same as analytics. Dashboards, visualizations, and reports that are thicker than War and Peace are fine, but they are focused on the past, fail to answer why something is happening, and are one-dimensional in comparison to the insights offered through analytics.” David goes on to explain the differences between reporting and analytics for recruiting, and how to start being more analytical in your TA strategy. Learn more in his post on the ERE blog.
Big data and analytics have started to make their impacts on the business world. From Finance to HR, data is proving to be a game changer for organizations. Bernard Marr, an expert in Big Data, provides 17 predictions about the future of this business phenomenon. Here are a few:
- Data volumes will continue to grow
- Machine learning is a top strategic trend for 2016
- More companies will appoint a chief data officer
- The data-as-a-service business model is on the horizon
- Businesses using data will see $430 billion in productivity benefits
Learn more about all 17 predictions in Bernard’s post on Forbes.com.
Boost Quality of Hire with Real-Time Feedback (Lou Adler)
“To improve quality of hire, the feedback loops in your recruiting, sourcing and applicant tracking processes need to be in real time, not weeks or months after the fact,” says Lou Adler, CEO and founder of The Adler Group. Lou goes to explain why this is the case, as well as provide 9 key metrics to track to improve quality of hire:
- Interviews per hire
- Quality of talent pools for critical positions
- Break down acceptance rates
- Sourcing channel effectiveness
Learn about all nine metrics in Lou’s article on the SHRM blog.
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