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Big Data in HR is no longer just a trend that companies mention in presentations at the end of the year. Data means information and the analyzed information using well-established metrics and algorithms provides solutions.
The answers to all BIG questions regarding the evolution of a company are in Big Data:
A few years ago data research and analysis was a common tool in marketing & trading professionals’ actions. Now HR departments may use the valuable insights to find and implement solutions to the above questions.
Big data is a must. Now, also in HR
Big Data in HR: How to increase the employee’s retention and performance through knowledge
Not only from our experience, but also from relevanat studies with figures and statistics on solid bases, Big Data is a must in HR. According to a SAS study conducted in 1,300 organizations, over 6,400 companies with over 100 employees will implement by 2018 Big Data analyzes. Moreover, other research conducted in 1,000 companies showed that data analysis is in the top 3 HR technology investments.
Which are the concrete problems that can be solved through Big Data? From employee satisfaction, retention rate, identifying top performers, to the demotivated employees and the cause of their lack of motivation or the reason why they are changing the job.
One of the most effective tools that can be transformed into Big Data, through which the company can understand why a performer chooses to leave or how the company can avoid similar situations, is the exit interview. Through a questionnaire provided during the interview, the company can collect vital data because more than 70% of respondents will give honest answers.
Thus, if the reasons are related to the management, the training programs, work environment, organizational culture or growth plan in career, centralization and analysis of these questionnaires can help the company to optimize its processes and understand the various types of employees in the organization.
Moreover, besides the exit interview, the company should constantly gather feedback from employees through a survey transformed into Big Data. In this way certain problems that affect the rate of employee retention could be prevented.
Big Data also offers extremely important insights if it is applied during the job interviews. According to a survey conducted by Silicon Valley Bank, 90% of companies surveyed said that the biggest problem they face is how and where to find talents and employees. The answer is all in Big Data.
In the past 12 years, the HR departments and HR managers of top corporations, like Xerox or Google, use data analysis to reduce by 50% the cost with employees, to attract top talent and to keep them in companies.
In the past, the instruments of identification and retention of a talented employee were IQ tests or aptitude and psychological tests, but now Big Data has become the new approach in scientific employing because it allows recruiters to ask if a candidate could be the best possible match for a job.
Big Data can also provide information about the reasons why employees choose to stay long-term in a company. Those are that kind of insights that eliminate criteria related to productivity or retention. For example, when the giant Xerox has asked job candidates what is the average distance between home and work, they identified a strong relation between this element and the retention and engagement level.
Big Data is the normal direction in HR which identifies, clarifies and improves all the processes and the most important resource of a company – the people.
Photo source: www.mrscompany.com