Big data is everywhere and one simply can’t overlook its existence. Not a couple of years ago, big data surprisingly was deemed to be a cup of tea for big players and data nerds only, but contrary to the infamous misperception, big data has paved its way into the realms of sales, marketing, customer service and amazingly into human resources (HR).
What exactly is Big Data?
Big data refers to the humungous amount of data that businesses generate these days. This monstrous volume of data is a challenge to store, analyze and navigate using old-school techniques and standalone or conventional tools or systems. Though seeping your way through big data is challenging, the rewards are sure to outweigh these complexities.
Here’s why HR should get into big data now or perish later:
- Quality hires
Big data helps HR and talent acquisition professionals to churn out analytical and strategic recruitment campaigns. Long story short, big data assists you to keep away from bad hires. Rather than relying on gut feeling or walking through tons of job applications and resumes, HR professionals can put to use a good HR software with an online recruitment management module for big data analytics pertaining to past employment history. In addition, big data analysis helps you identify potential hires by providing you with social media behavior, employment information from job portals, etc. Most importantly, HR technology sits at the core when it comes to leveraging the power of big data.
- Reduced employee attrition
One of the greatest benefits of big data for human resources landscape is that it helps curb employee attrition rates. Yes, it helps to identify the possible reasons to why people quit a company and factors that make them stick. Analyzing the data accumulated via exit interviews, employee assessments, feedbacks and surveys, etc. could help human resources professionals predict and prevent the onset of attrition. Also, it can help to identify factors that are causing reduced engagement among employees.
- Better insights
Big data is in the talks for all the good reasons. It serves as a perfect entryway to learn more about the professional life of an employee. Employers and HR professionals can gather helpful insights into an employee by evaluating and monitoring his/her past employment data. This is greatly beneficial in terms of administering and planning strategies for workplace motivation and employee engagement. Furthermore, big data analytics received via an advanced HR software with built-in performance management module can help employers and HR personnel to identify as well as distinguish the top performers from the lot. This can be of great help particularly when it comes to planning practices or strategies to retain best talents and draft training programs for the ones struggling to perform.
Lastly, we can conclude that big data is here to stay and would help talent acquisition experts, employers and most importantly, HR professionals gain helpful insights into existing employees as well as potential candidates. Eureka! Businesses leveraging the power of big data using coming-of-age HR technology such an automated HR software would enjoy a highly productive and engaged workforce.
Anwar Shaikh writes about startups, human resources and technology. A self-made writer, Anwar writes for Pocket HRMS, a leading provider of human resources management solution to small and mid-sized businesses across India to revolutionize HR and employee experience.