The varied amount of company data available, as well as the different technological means needed to access it, represents the possible key to improving multiple aspects of employee management and overall performance.
As long as HR professionals understand the true benefits of predictive analytics and other big data-based initiatives, the company they work for could have a more accurate means of making strong choices regarding their employees and general practices.
In an article for Forbes, Meghan Biro writes about the necessary task of making effective employee predictions. She gives several examples of the ways talent analytics should affect a business, including identifying the hires who will be most successful and making a model for possible threats to employee retention.
One of the reasons to focus on smart forecasting solutions, as Biro puts it, is to utilize a system that is easy to implement and beneficial in the long-term.
“We need technology that can be used through mobile devices, is interconnected via the cloud so it’s consistent across the board, is intelligent enough to keep learning, is agile enough to refocus,” Biro writes. She goes on to add that predictive analytics grants “the ability to take the past and make sense of it in terms of common factors and key relationships,” among other things.
Computer Weekly reports that ConAgra Foods found that it could improve costs by lowering overtime by just 5 percent during the year. Using this system, they have been able to make strategic improvements and focus on optimizing data.
Because the implications of smart HR software could be so large, selecting the right system is crucial from the start to specifically address functions that are in need of improvement. Consulting services are a means to assess all of the vendor options based on what they can bring to a specific organization.