A good employer should always …”
In the era of continuous technical disruptions, how you finish that sentence could reveal a lot about your leadership style. As a leader in one of the most competitive job markets, it’s our responsibility to develop a transparent, unbiased, merit-driven ecosystem in the organization and create a compelling employer brand.
Today, our role revolves around reorganizing the crucial link between talent and value while adapting at the speed of business. The deeper we dive in technology and the longer we lead, the more likely we'll change the way we choose to complete the above sentence.
People-Data Analytics
While the principles of a well-written job posting remain relatively constant, technological tools provide a new opportunity for the recruitment function to reach its complete potential and drive real business value. It eliminates subjective decision-making and replaces it with objective data-based decision-making.
With today’s technology, we can ensure parity and diversity in the recruitment process. We can assess candidates from different colleges, organizations, and geographical locations by weighing their performances on valuation and retention. One such technological advancement is advanced analytics which can dramatically improve the technique to find, appeal, and retain talent. It helps leaders to unlock the power of data—increasing rigor, reducing bias, and improving performance.
The Science of Data
Feeding such advance analytics tools with rich and meaningful data from internal IT systems like MIS, HRMS, Payroll, PMS, and other applications generates a diverse set of decision points across the HR function. This massaged data is dug deeper to uncover the unique factors that influence the organization-wide performance. This eventually results in shorter yet effective processes with a more diverse set of hires and an increased likelihood of success.
Combining data and people with analytics will help in identifying new recruitment sources, comparing self and competitor workforces, and recognize what superior talent looks like!
Analytics by the numbers
Using data analytics to hire and retain the best employees in the market where only twenty-nine percent of women passing out from colleges, we have:
- 32 percent representation of women in our organization – among the highest in the industry.
- Considerable decrease in the attrition rate.
- 18 percent of former Cybagians return owing to the organic reputation of being one of the best places to work.
Thus, by effectively using the data collected from multiple points and by analyzing it to continually improve policies regarding hiring, training, reskilling, and upskilling, we were able to establish the ultimate tech-connection between opportunity and talent. People-Data analytics, if done well, generate evidence-based, organization-specific insights to make more strategic decisions about our people.
As our ability to collect, analyze, and leverage data to make informed decisions grows, so do our opportunities to add value and win. But, there is a different aspect that needs to be focused—people relationship among themselves—also known as relational analytics. If we harness the power of relational analytics, we can estimate the likelihood of our people achieving a defined performance goal.
Relational analytics along with people-data analytics will ameliorate the decision criteria and build healthier, happier, and more-productive organizations because an organization is only as strong as the collective talent of the people who work there. They’re worth the investment.
Source: TechGig Bureau
