Big data is having an impact on every single industry in the world. Companies are constantly trying to look for ways to use all the data available to work more effectively, and efficiently. One such industry where big data is changing the game is in the human resources space. Thanks to available data in combination with data analytic professionals, the role of human resources professionals is much different now than it was a few years ago.
Data is Shaping a Targeted Candidate Pool
The biggest area where data is changing the game is in recruiting. Being able to analyze large data sets about potential new hires makes finding the right person easier than ever. HR departments can feed analysis solutions with data about their best employees with the goal of creating a perfect hire persona for each position. The data could include their educational history, work experience, aspirations, and more.
Gaining Data on Competitors to Ensure Competitive Salary
To be competitive in the market, you need to be sure that you have salary offers that are on par or better with what other companies are offering. You can use big data to compare salary ranges to be sure you stack up. The human resourcing game, with access to this data, can help to identify where salary may be lacking and thus may be causing issues in the hiring process. Increasing the salary of your organization up to the median or better can help to attract better talent.
Using History as a Guide
When you have a lot of historical data on individuals, you can rely on that data to help drive some of the decisions you make in the future. For example, say you are looking for app development companies to hire where you think PHP is a prime experience. What you could do is look back at companies that came into this type of job with that experience over a number of years. You can see how they did in comparison to others with different projects. By using data, you can let history be a guide to help you better pinpoint candidates and make improvements on your hiring decisions.
Speed Up the Hiring Process and Reduce Costs
You want to be able to be as efficient as possible as a human resource professional. This means speeding up the hiring process and in turn reducing the cost to hire an individual. The best way to do this is to try and cut down on the time spent as a staffing agency or HR professional to find that premier candidate. Why interview 20 candidates when big data can help you narrow it down to five targeted individuals who will be best for the role? You can use data in this type of way so that you can both speed up hiring and also save costs along the way.
Recognize Employees for the Intangibles
Big data can also help you in the human restoring space by recognizing employees for the intangibles. With big data, you will be able to pick up on activity the individual is taking part in across the company. As you do this, you can recognize them for the gains made on the employee culture. It is this type of positive attitude that can drive a company forward. Thee wins by employees help to raise morale, which in turn can help with productivity, inclusiveness, and more.
There is a lot at stake when it comes to big data and the human resourcing industry. Sourcing strategies are becoming more targeted thanks to big data. The targeted strategies are helping drive down the cost to hire and increase the speed to hire. Once candidates are brought in, it is also helping to recognize those employees for their intangibles. It is this full life cycle that can assist in making decisions with a basis on data to hire the perfect candidates.