Workforce Analytics Provide Valuable Insights About Your Employees
You’re probably already invested in big data in one way or another, so why not use it toward workforce analytics? Generating insights through analyzing data can help you figure out how to prop up your company with the right people as you evolve.
One of the basic uses of big data for human resource departments is to help them find employees that will thrive in their unique workplaces, because without teams stacked with people working well together, your company goals could be out of reach.
Two things happen when you bring people on board that aren’t the right fit for your team. First, they’re going to realize within a short amount of time that they aren’t a good match, and they’ll begin looking elsewhere. Second, they tend to not work well with the employees around them, which can cause some friction in the workplace, making everyone a little less happy. This creates a situation where you see higher turnover rates.
By using workforce analytics, you utilize methodologies that help you focus on worker-related data to optimize human resource management, thus limiting turnover.
Improve Talent Acquisition
Did you know a bad hire can cost you almost 30% of a worker’s first-year earnings? Utilizing workforce analytics will help you streamline your talent acquisition process and put a stop to the risk of losing so much time and money. With a more robust talent acquisition process, you’ll have a clearer vision of what top quality talent actually means in your company culture.
Using Evidence to Recruit
With an eye on data, you can build your outreach content more precisely. When you’re recruiting for open positions, you want to attract only those who will be a good match. Using big data can help you pinpoint exactly what you should say and where you should say it. Furthermore, your recruitment process can be streamlined, requiring less time and energy and even reduce the hiring timeline to more manageable lengths.
Big data and analytics make it easier to see where you were, where you are now and where you could be in a month, two months, six months or a year. This is valuable data because you can use it to guide your strategy for hiring the talent that can keep you in line with your forecasted growth.
Once you’re figured out what it is you want out of your team members, you need a way to ensure that the prospects you’ve focused on are actually the right people. To do this takes more than an interview – you need science on your side.
The Predictive Index’s cognitive assessment will let you know. Is that job candidate with a strong resume actually going to fit in with your company culture? The behavioral assessment will let you know.
At PI Consulting Group, we’re committed to assisting you by using people data. Contact us and find out more about our methods.