How human resourcesÂ
helps human resources build
employee retention strategies
Clément Mercier
Big Data: the key to retaining talent in companies and improving productivity.
6 uses for Human Resources departments to get the most out of data analysis.
It is no longer news that Big Data has managed to demonstrate its effectiveness and usefulness in all industries and sectors, reaching areas as diverse as the economy, the environment, or health.
In Shapelets we believe that data is one of the great values that companies have, as its analysis allows them to obtain specific and detailed information on a particular issue, business, or problem; improve decision-making and reduce costs, find new solutions in response to real market or social demands, or increase business efficiency, among many other things.
If we focus on the business environment, Big Data can be applied to any area of business today, including departments such as talent management. By applying data analysis to this department, we allow companies to improve engagement with talent, such as getting to know their employees better, controlling differences and gaps that may occur such as salaries, knowing the compensation that provides the most benefits, or discovering the degree of motivation of the team.
In addition, using Big Data in combination with Artificial Intelligence in Human Resources brings value to businesses, as the results help companies to improve the relationship with their employees, predict risks or optimize the search for candidates in recruitment processes, among many other advantages.
Thus, to successfully apply Big Data and Artificial Intelligence in the areas of talent management, Shapelets has gathered six uses with which to make the most of data analysis:
Improve employee productivity.
Human Resources departments can know the most productive moments of each employee through the analysis with Artificial Intelligence of different performance metrics. This information will be used to discover where it is necessary to improve working conditions or optimize schedules to make better use of the company’s personnel resources.
Adjust remuneration systems.
In relation to productivity, a key aspect is remuneration. This analysis of the available information also makes it possible to know which employees are the most productive, or who obtain the best performance, in order to adjust bonuses or improvements in their remuneration and salaries. In addition, Big Data allows Human Resources departments to analyze whether, in turn, these improvements in remuneration affect the performance of workers.
Training.
Thanks to AI, departments can find out what kind of training employees need at any given moment. In other words, they can know what skills they need to learn or what gaps exist between different workers in order to try to solve them through specific training courses.
Finding the best talent.
As we have experienced with our clients, data collected by companies from their employees allows them to know exactly what specific skills the company needs at any given moment, which allows them to clearly define the profile of the candidates in the job offers they advertise. In addition, Big Data also helps departments to know the profile of each employee, so they can make the most of the capabilities of their workers and discover hidden skills in them that improve their performance in the company.
Improve employee retention.
Thanks to Big Data, HR departments can discover patterns among workers who leave the company and act to prevent talent drain. Data analysis can also be used to make organizational predictions in possible scenarios in which there are variations in the workforce, anticipating possible problems. It should not be forgotten that companies invest a lot of capital in training employees, so a high employee turnover affects their accounts and also their services.
Knowing the commitment and motivation of employees.
Big Data also helps to develop surveys to evaluate and draw conclusions about how employees feel, how they feel about the company, what problems they see in it, or how to improve motivation. All this information will be extremely useful for retaining talent and improving the company’s relationship with its employees.
Finally, we wanted to highlight that the applications of Big Data combined with Artificial Intelligence in Human Resources departments are countless. Applying these technologies will help to be more efficient, reduce costs and make more accurate predictions.
Do you want to learn more about Big Data benefits for companies? Check out how Big Data has helped ECommerce businesses boost sales.
Daniel RamÃrez
Engineer
Daniel is a Data Engineer for Shapelets. He is an integral part of the back-end development team, where we develop a high-quality platform ensuring the best product design with valuable functionalities for data scientists. Daniel supports the team with his diverse background in Software Engineering.