Big data has become ubiquitous, fitting itself into every single facet of business life. Enterprises should have expected that -- big data impacts so much of company operations and can offer such deep insight into previously dark areas that it has become a necessary light.
Human resources is no different. With an efficient implementation of big data, HR departments can better manage the talent under their purview. Below, nine contributors to Forbes Human Resources Council offer their honest opinions on the benefits that big data can provide to human resource management departments.
Members explain why HR professionals should embrace big data.
Photos courtesy of the individual members.1. Improving Strategic Workforce Planning
Big data can transform talent acquisition efforts, but organizations must analyze the results properly. Taking a full view of all HR data lends insight into how to manage what has become a decentralized talent landscape due to the influx of employees with alternative work arrangements (e.g., contract, gig, freelance and part-time employees). - Kim Pope, WilsonHCG
2. Reducing Costs, Giving Back More To Employees
One of the biggest benefits of big data in HR is the option to use software for daily HR management, rather than staffing an entire HR department. There are so many affordable, full-service online options for various aspects of HR and benefits management. It makes sense to leverage those specialized systems to reduce costs and give more back to your employees. - Laura Spawn, Virtual Vocations, Inc.
3. Providing Hidden Talent Insight
The big problems organizations face is there is talent hidden within pockets of the organization but the leaders persistently feel they need to hire external talent. Big data with neurolinguistic programming can help analyze the feedback, project reviews and overall talent profile data to build skill profiles of employees within the organization in near-real time, which can be used as a tool for workforce planning. - Srikant Chellappa, Engagedly
4. Unlocking Powerful Insights
Data is knowledge and knowledge is power. To define your journey, you must understand who you are as a company. Workforce analytics can unlock powerful insights that impact your bottom line: the candidate experience, employee engagement, customer satisfaction and more. Data helps to identify areas of opportunity, shapes company culture and reveals how you can make a positive impact globally. - Chatelle Lynch, McAfee
5. Predicting Hiring Needs
When applied to recruiting, employers can utilize big data to better predict hiring needs, while improving their quality of hire and employee retention. By mining employee data and identifying patterns related to skills, performance ratings, tenure, education, past roles, etc., companies can reduce their time-to-fill, improve employee engagement and productivity and minimize turnover. - John Feldmann, Insperity
6. Improving Retention
The one benefit of embracing the big data trend in HR is to focus on the health of the organization. Company culture influences an organization's longer-term survival with today's talent shortage and employee expectations from employers. Organizations must bring the same level of rigor with data and analysis to people decisions as with business decisions. - Sherry Martin
7. Enabling Decision-Making Without Bias
The insurance industry is known for its mastery of data and places a high value on HR data to underpin good decision-making. Effective data supports productivity, organizational structure and innovation. Meaningful dashboards track demographics, environment, health and safety, total rewards, capability, training, mobility and development, as well as engagement, retention, staffing key performance indicators and more. - MJ Vigil, PEMCO Insurance
8. Automating Your Processes
There is a fear that using analytics takes the "human" factor out of human resources, but embracing big data allows you to use tools and automate processes that reduce human errors. When you automate tasks and processes, your human resources team is more available for strategic planning, connecting with employees and implementing initiatives that make the company better. - Cameron Bishop, SkillPath
9. Tapping Into Shared Experiences
With the unemployment rate being as low as it is, HR leadership does not have much leeway to “get it right.” Understanding the broader HR trends across multiple organizations and being able to tap into shared experiences allows employers to make better decisions. This has been driving many new big data analytics and AI-powered solutions onto the market. - Rachel Lyubovitzky, EverythingBenefits
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January 02, 2020 at 08:15PM
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Nine Benefits Of Embracing Big Data In Human Resources - Forbes
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