Sunday, February 2, 2014

Analytics-Based Talent Management

 It is critical to creating a vision and path for workforce analytics. 

Organizations should have data orientation in anything they do, especially in talent management space; rather than following the traditional subjective model, talent analytics is fundamental to build a competitive digital workforce. However, many organizations are data-rich, but insight poor. How to build effective analytics-based talent management?

Create a path for workforce analytics: Data-Driven talent management will definitely bring together leaders across the organization to share their experience and insight wherever there is a GAP in the system and help streamlining, immediately,  identifying the root cause and give practical guidance for improving and ordering HR data and using it in creative ways to gain predictive insight and competitive advantage. 
  • Creating a vision and path for Workforce Analytics
  •  Engaging workforce planning & deployment & development based on performance 
  • Do social network Analysis to improve effective communication & collaborative innovation 
  • Futuristic trend, visualization, and proactive Presentation
Take integrated talent analytics approach: Integrating data-driven skills and tools into HR will challenge the organization to be more fact-based, more objective and more cost-effective. The organization should have the maturity to leverage and optimize these analytics/insights to make critical decisions rather than looking at it as mere data and continue to launch and drive programs that operate as an island. Using a blended, integrated approach with a selected set of data-driven tools and analytics capabilities will eventually provide competitive and operational advantages and support of the organization.

Enhance analytics capability with a social pulse. Talent Analytics is part of the overall business analytics to find new insights and strategies. Every business has consumers and analytics on them is very important to unearth valuable information. People analytics was always important but tools were not that strong. In many circumstances, Big Data or any analytics work well for the quantitative data sets and you may not find much use on the qualitative side when especially it is related to people, as it will fail to capture emotions and circumstances. Now with unstructured analytical capabilities combined with Social pulse, the organization has more visibility of people's sentiments and can work to make a motivating environment.

The paradigm shift in Talent Management. The analytics in People will discover the reasons for attrition, the work environment by feedback, the Sentiments of people leaving and joining competitors, staff and opportunity marching, etc. So talent analytics can really add value in the way businesses recruit, retain, and nurture the Talent. Big data has a great role to play in: 

  • Talent Acquisition: Workforce analytics can help in understanding and giving insights in how the organizations can acquire the right talent for the right role and responsibilities.
  • Talent Retention and Growth: This is very critical for the individual as well as the firm to maximize the growth of the employee at the same time improving the profitability of the firm 
  • Talent transition: It is very important to build a culture of growth, in terms of career path and analytics based talent management can help in multiple dimensions here. 
People are still the most valuable asset in any organization and human capital has the best potential for business’s growth, therefore, gaining insight from talent analytics would directly impact both business’s bottom line for cost efficiency, as well as top line growth via innovation and intelligence.


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Talent analytics

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