Big Data gained a lot of prominence throughout the IT industry, prompting enterprises to find ways to store this mammoth, yet essential data effectively.
Then comes the predictive analytics, who takes this raw data to make it meaningful and the Human Resource department is expected to perform some of the vital functions using this data- be it talent acquisition, productivity mapping or even outplacement.
• Hire the right talent
Great Workforce is the biggest asset for any organization; therefore, companies prefer employees who are an excellent cultural-fit and works well in the existing work environment. But, traditional aspects of recruiting like background checking still exists and advanced technologies are helping to extract these critical insights from the vast amount of data.
• Finetune performance and boost productivity
HR professional is responsible for maximizing the role of their employee in the organization. Using analytics HR professionals can keep a track on the production, progress, slips, triumphs, etc.
• Upskill the workforce
The capabilities of the workforce can be upskilled when an enterprise can predict the gaps and fix them with minimal lags. In this way, the organization's work will be simplified as the modern software is making it simpler than before.
• Foster deeper engagement
Employee satisfaction has always been a critical factor yet hard-to-measure variable. The employee engagement should be improved which will lead to increased productivity. A proper working environment should be cultivated to promote a deeper employee engagement and satisfaction level.
• Retain top-tier talent
Businesses invest sizable assets in distinguishing, onboarding, and training employees – those with high turnover end up incurring severe expenses. Predictive analytics takes historical information to uncover possible attrition before it occurs.