Big Data – Key To Retain Talent In Companies And Improve Productivity
Big Data Talent Productivity
The data are one of the great values held by businesses, and their analysis provides concrete and detailed information on a particular subject, company, or problem; improve decision-making and reduce costs, find new solutions in response to actual market or societal demands, or increase business efficiency, among many other things.
If we focus on the business field today, Big Data can be applied to many businesses, including departments such as talent management. “applying data analysis to this department allows companies to improve engagement with talent, such as knowing their employees better, controlling differences and gaps that may occur, such as salaries, knowing the compensation that benefits the most contribute or discover the degree of motivation of the team.”
In addition, using Big Data in combination with Artificial Intelligence in Human Resources adds value to businesses since the results help companies improve the relationship with their employees, predict risks or optimize the search for candidates in personnel selection processes, among many other advantages. Thus, to successfully apply Big Data and Artificial Intelligence in the areas of talent management, we collect six uses with which to make the most of data analysis:
- Improve employee productivity. Human Resources departments can know the moments of most employee productivity through the analysis with Artificial Intelligence of different performance metrics. This information will be used to discover where it is necessary to improve working conditions or optimize schedules to use the company’s personnel resources better.
- Adjust remuneration systems. Concerning productivity, a key aspect is remuneration. This analysis of the available information also allows us to know which are the most productive employees, or who obtain the best performance, to adjust bonuses or improvements in their remuneration and salaries. In addition, Big Data allows Human Resources departments to analyze whether, in turn, these improvements in compensation affect the performance of workers.
- Training. Thanks to AI, departments can know what type of training employees need at all times. In other words, it is possible to know what skill they have to learn or the gaps between different workers to try to solve them through specific training courses.
- Find the best talent. The data collected by companies about their employees allows us to know precisely the specific skills that the company needs at all times, which helps to define the profile of the candidates in the job offers they advertise. In addition, Big Data also allows departments to know the shape of each employee, so they can make the most of the capabilities of their workers and discover hidden skills in them that improve their performance in the company.
- Improve employee retention. Thanks to Big Data, Human Resources departments can discover patterns among workers who leave the company and prevent the flight of talent. The data analysis also serves to plan the action in the event of possible variations in the workforce, thereby improving the management of human resources in the company. It should not be forgotten that companies invest a lot of capital in training employees, so a high turnover affects the accounts and, also, their services.
- Know the commitment and motivation of employees. Big Data also helps develop surveys that allow evaluating and drawing conclusions about how employees feel, their relationship with the company, what problems they see in it, or how to improve motivation. All this information will be beneficial to retain talent and enhance the company’s relationship with its employees.
The uses that can be made of Big Data combined with Artificial Intelligence in Human Resources departments are infinite, so applying these technologies will help be more efficient, reduce expenses and make more accurate predictions”.