Big Data is no longer a term merely associated with data geeks. It has become a commonly heard term for marketers, service providers and also the human resource department. It is the voluminous, diverse data that is produced by most companies. The data that they find hard to maintain at their own systems.
A lot of this data is related to the employees. Organizations can make way more refined decisions if they could leverage this data properly. There are a number of reasons why HR should welcome this growing trend of Big Data. Some of them are:
Employers spend a huge amount of time and money trying to find the right candidate and yet many a times, they end up with a bad hire. Big data enables them to follow an analytic approach in determining their candidate’s skills. They could go through their online resume databases, previous employment records, test scores, social media presence, and even the details of their participation in various contests. This makes it much easier to sort out candidates and judge them on their skills based on data collected from a number of platforms rather than just going through plethora of resumes which lead them nowhere.
Big data enables companies to track enormous amount of employee performance related data. It enables them increase the engagement with their employees and motivate them individually. Companies are using wearable technology to track their employees’ information while they’re at work. They can track the employee’s performance, their interactions with colleagues and customers and other activities as well. They can identify the best performers and also the ones who are lagging behind so that they can put in special efforts to increase their performance.
Formal training programs are a costly matter. Companies spend thousands of dollars per employee in the training and development programs. Even though these are necessary investments, employers can still measure the potential of these programs to analyze the effectiveness of their efforts. They can track how much their employees are participating in those events and whether they are actually learning and implementing whatever they are being taught.
HR can use Big Data in carrying out employee satisfaction surveys, interviews and team assessments and use this data to predict reasons to why they would want to leave or the reasons for why they’d stay. The data collected from different sources would help them analyze better and resolve the issues that concern them.
The Bottom Line
HR can utilize Big Data to look for patterns and correlations found from different data sources and get better insights into their employees so that the organization can put their efforts in the right direction. It would help them make better decisions and save a great deal of time and money.