Tech disruption is not about the shaking the very foundations of the business landscape, but, redefining crucial HR functions of recruitment, retention, training, performance and talent management.
For decades, companies have been generating data related to employee records, salaries and assessments. However, in a constantly evolving marketplace, there is a definite need to develop HR strategies beyond simple comparisons and intuitive decision making. This requires qualitative validation and the integration of both the existing and new data sources. A real transformation is in fact warranted!
While companies attempt to contend with rapid global expansion and challenges in talent acquisition, they are increasingly relying on data and logic driven analytical tools to make more accurate hiring decisions, and, measure efficiencies in talent management. The Oxford Economics Global Talent 2021 report states, "The new global marketplace calls for a fresh HR approach and mindset to manage the enormous change process." The report further states that "HR executives will need to use new analytical tools to understand and plan for the future, assess the impact of decisions, optimize performances, prepare for different scenarios, and, align talent management with larger corporate strategies."
Analytics: The Buzz word
Analytics is the new buzz word in HR departments, who are increasingly seeing value in implementing data analytics to align HR objectives with business transformation strategies. Validating this trend are insights from a 2015 Tower Watson survey of more than 1,000 organizations, which discovered that HR data and analytics are among the top three areas towards HR technology spending. More and more companies are deploying Big Data solutions to harness volumes of data in the form of employee records of skills, performance, health, qualifications and experience etc. to evaluate and improve talent metrics and workforce productivity. Leveraging big data insights adds significant value in recruitment and employee retention.
Recruitment
この記事は Human Capital の July 2017 版に掲載されています。
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この記事は Human Capital の July 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
