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Workday, the cloud-based software provider, has announced its “ambitions to branch out” and “utilize predictive analytics” for the betterment of the HR world, reported Michal Lev-Ram in an article in Fortune.
Aneel Bhusri, co-founder and CEO of Workday, was quoted as saying, “The early wave of predictive analytics let us predict what might happen in the future, but now we can really recommend what people should do.”
“The early wave of predictive analytics let us predict what might happen in the future, but now we can really recommend what people should do.”
The applications of predictive analytics for the purposes of human resources are many and varied. Bhusri highlighted an example, where employees who are considering quitting their jobs might update their LinkedIn profiles in anticipation of prospective companies wanting to scout them out. A predictive app designed by Workday named “Retention Risk” gathers information from workers’ LinkedIn profiles and notifies the HR department of the potential, as well as providing some suggestions on how to deal with the issue.
Lev-Ram notes that Workday isn’t alone in trying to break into this novel and exciting branch of HR software: “Oracle and SAP are also dabbling in the space and have each made large-scale acquisitions in HR tools,” as well as a number of new enterprises looking to grab a foothold in the burgeoning industry.
This activity hasn’t gone unnoticed, with Workday recently making an acquisition of the San Francisco-located predictive analytics newcomer Identified. Identified has become now become the driving force within the company behind the developments made in predictive analytics announced at the conference.
With the ever-changing HR world continuously finding new ways to improve the hiring, management and retention of employees, the identification and implementation of effective HR software is becoming evermore crucial in making sure businesses run smoothly. This can be difficult, especially if you don’t have the time to take away focus from your specific business practices, which is why HR consulting services can be valuable resources. Let HR Software Solutions work with you to find and implement a customized HR software system that fits your needs.