Build data science based HR processes to create a smarter organization
Human resources is no longer a department that uses conventional methods to get the things done. Data science can enable HR professionals to get insights about employees to improve recruitment decisions and predict employee turnover through HR analytics (also known as talent analytics).
Through HR analytics, HR departments are not only reporting about what already exists in the organization, but also predicting the future possibilities in recruitment, work culture, compensation, training, and employee retention.
Michael Arena, the Chief Talent Officer of General Motors believes that “Talent analytics is about crunching data about employees to get the right people with the right talent at the right place at the right cost. HR is being held accountable to deliver business results. And the language of the business is analytics.”
The HR department of one of our oldest clients wanted to leverage data for the betterment of the organization by utilizing it to attract the top talent for the vacant positions and to gain higher employee retention. They also realized the importance of data in predicting the impact of training and evaluating the offered compensation.
Our data science team at Softweb worked closely with the client’s historical data and analyzed the factors that affected employees’ job satisfaction, employee turnover rate, the quality of new hires, and most importantly the cost associated with all of it.