The growing responsibility of HR to be a strategic partner in the organization along with the amount of customer demand easily allows HR to leverage Big Data. There are patterns and trends in HR that can be found to make faster, evidence based decisions. Utilizing the data, creating metrics, providing analytics, along with insight and application give way to increasing value and a competitive advantage in HR. Big Data is emerging in this sector, specifically compensation, benchmarking, workforce planning, selection testing, team performance, and learning management.
Challenges of using Big Data in HR:
- No true understanding
- Not as experienced and comfortable with metrics and analytics
- Skills gap
- Limited budget
- Daily responsibilities
Due to the lack of HR participation in Big Data, there is massive opportunity in this area. There will be a need for the skills, personnel, and training so organizations can implement Big Data in their HR departments.
Big Data can help HR:
- Identify key talent
- Talent acquisition
- Talent constraint issues
Big Data can employ hiring teams to be proactive and strategic when looking for talent. Sourcing strategies that align with the organization’s mission can emerge from the analytics and allow for a reduction in HR costs from identifying the right applicants and making the right hire. It is critical to have a competitive advantage in talent acquisition as there is considerate amount of competition to find quality talent. When you become more strategic and thoughtful by utilizing data, the talent pipeline will build with the proper candidates.
How to start leveraging Big Data:
- Identify what strategic goals needs to be addressed
- Focus on critical positions and workforce planning
- Know your talent acquisition funnel
- Start simple with internal data and create benchmarks