In former eras in the field of HR, companies did not perform talent analytics. But, with the evolving nature of all things, this aspect of HR has also evolved, and talent analytics has become an important activity for the now strategically directed function of today’s HR departments. A great thrust for talent analytics is the mindboggling amount of data that is now available to HR departments. Combined with technology and statistical methodologies, enormous data sets are manipulated by skilled personnel to arrive at critical information for strategic talent-related decision making.
We examine an article posted on Harver to inform our knowledge of talent analytics. Considered to be a tool that gives insight into an organization’s existing and potential employees, talent analytics enables the organization to be cognizant of what motivates these two groups and to be aware of their strengths and weaknesses. The whole aim of talent analytics is to improve the performance and productivity of the organization’s workforce guided by the information that the analytical process provides.
Talent analytics can bring to the fore employees who are high performers and those who are less motivated. It can also provide an analysis of salaries for diverse positions and supply facts about employee retention. Such information is particularly useful in instances where it is observed that new hires do not add to the organization’s net profit margin.
The information that talent analytics works upon includes that gleaned from candidates’ applications and the hiring process. The analytics tool zooms in on the vital skills enumerated by the organization and produces an unprejudiced shortlist of candidates that meet the given criteria. Talent analytics offers a number of other important features such as the tracking of hiring metrics, the gathering of continuous feedback, the application of predictive analytics, and the ability to improve employee retention rates. It also promotes transparency and raises brand awareness.
Raise your awareness of talent analytics by pursuing eCornell’s Ivy League program in Strategic Human Resource Leadership. This program will help you to, among other things, build your analytical expertise and enhance your presentation and communication skills.
eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRDF Malaysia under its SBL Scheme.