High Performing HR Practitioners Use Data Analytics
HR and business strategies can be better aligned through data analytics. In the 2016 Deloitte Human Capital Trends report, it was found that the HR function played an important role in redesigning the organization to be more globally competitive due to changes in demographics, digital technology, and the employer-employee relationship. However, they found that HR leaders need to broaden their expertise to include design thinking, people analytics, and behavioral economics. Once developed, they will be able to collect useful information to supplement informed decision-making for the best results in the work they do. HR practitioners today need to utilize this function in ways that will improve recruitment marketing strategies, boost employee engagement efforts, streamline recruitment processes, and aid in creating better training programs.
Improves Recruitment Marketing Strategies
Data analytics can be used to understand how the company’s brand is viewed within and outside of the organization. According to Brad Geiser, Co-Founder of GeiserMaclang Marketing Inc., a good reputation translates to better hires and retention and better employee engagement. In addition, a study by RiseSmart, a Career Transition and Outplacement Consultant company, showed that 84% of employees are willing to leave their current employers to work for a company with a better reputation, despite minimal salary increases.
To determine company reputation, organizations need to analyze data from all their stakeholders. Rather than spend on various initiatives that may or may not work, actions can be more strategic and cost-effective so that customers, clients, vendors, and employees will value their brand more. This benefits those in HR since employee retention increases since individuals are more inclined to stay, while attraction and hiring also increases because more potential candidates want to work for organizations with good reputation.
Boosts Employee Engagement Efforts
Employee engagement itself can benefit from data analytics. By gathering data on factors that affect engagement, such as employee recognition and company culture, companies can design the most effective strategies to boost morale and increase productivity. Travis May, a General Manager at Rewardian, pointed out that employee recognition in the past and in the present vastly differ. He mentioned that it is important for employers to know how their employees prefer to receive recognition.
If managers surveyed their employees on what benefits they actually want over imposing the industry standard, workers would be more engaged with their work. Given a scenario where an employee does not have close relatives, he or she may not feel the value behind health benefits that support family members as well. By collecting small sets of data for certain age groups in an organization and customizing what the company gives them based on that information, the needs of the employees are better met and should increase overall worker satisfaction.
Streamlines Recruitment Processes
Recruitment can be improved through data analytics by streamlining the process and to make more accurate assessments of candidates to find the right-fit. Ketan Dewan, Founder of Talocity, stated that by using various tools such as AI technology, companies can use data points gathered from the best employees from a department to create the desired profile. Once the data has been analyzed and processed through an AI tool, a candidate shortlist that matches the requirements is automatically generated. This allows employers to sift through hundreds of applications to find the right-fit recruits in a shorter period of time.
Aids in Creating Better Training Programs
Data analytics identifies which company processes, practices, and programs need improvement. Through this, companies can create training programs that improve their overall workflow while providing their employees with opportunities to grow.
Jared Valdron, an organizational psychology researcher and people analytics consultant, shared that the data we should be collecting from a training session is a participant’s reaction, learning, behaviour, and results from the session. This is outlined in the Kirkpatrick model, wherein the HR can gauge the effectiveness of current training programs by comparing the reaction and learning gained from the program with improvements in behavior and results.
As other business functions and positions evolve by integrating data analytics in, HR should not be left behind data-enhanced roles such as digital marketing and financial data analysts. With the current pace of how business functions change, #advancingHR should also be a top-most priority.
You are invited to discover and improve your HR analytic skills through our upcoming workshop “Introduction to HR and Workforce Analytics” on October 18, 2018. This one-day session will be taught by Gigi Geronimo, General Manager at Crawford & Company Global Business Service Centre.References:
Presentations during Digital HR Conference on September 12