HR managers use analytics to make informed decisions on hiring and people management based on data. Using big data to make better decisions in hiring, promoting, allocating resources, and determining best practices. Data comes in multiple different forms. Some data is unstructured data, like text data from e-mails or chat messages. HR data is mostly static, information changes at a slow pace and is seldomly updated. Big data for HR has a variety of data, such as employee data, pay information, engagement scores. Other data are performance reviews, and e-mails, text messages are also information that can be used for analysis but are mostly unstructured data. Sometimes with legacy systems, data can be unreliable and messy. Career histories within a company may be incomplete with dates missing or overwritten after promotions or position changes. Additionally, restructuring or job titles change, but the job responsibilities often are not updated with the new job titles or are missing from the system. Understanding HR Analytics and big data lead to a wide range of competitive advantages.
Performance Reviews and HR Analytics
Unfortunately, before the rise of software systems like beepHR most performance reviews were paper or text-based written reviews. Most companies have large amounts of data in these reviews, but it requires data entry to import the paper reviews in addition, it requires applying natural language processing (NLP) to analyze this data. Having a system that automatically stores this information saves time and improves an organization’s ability to effectively apply an analysis. Such data will help in creating core competency profiles for positions and employees and create performance scores for employees. Moving from legacy systems to systems like beepHR would vastly increase the overall efficiency of an organization and improving a company’s bottom line.
Engagement Analytics and AI
Using text and e-mails by applying NLP helps to create a sentiment analysis. Utilizing AI to help understand engagement through sentiment analysis is a powerful tool for understanding employee attitudes, work styles, and communication. beepHR uses NLP and stores communications on a blockchain within its performance management and task management system. This helps improve the reliability of the data making it less messy and trustworthy.
HR Analytics Provide Workforce Insights
Big Data is applied to HR analytics to provide workforce insights. The types of insights you are likely to discover are indicators and impact for employee turnover, engagement, high performers, low performers, the timing for promotion, retention, competencies, etc.
HR analytics helps promote and solve organizational problems and serves as a tool to investigate projects and initiatives. The goal of HR analytics is to provide both predictive and prescriptive analysis. It should help steer decisions and help optimize future planning. It is also a powerful tool for understanding problems and successes within organizations for use as a diagnostic tool of sorts. HR analytics help take the guesswork out of planning, it provides concrete information for analysis instead of relying on a gut feeling. The future of business will be built on big data and data analytics. beepNow is and its tools like beepHR offer a system that provides AI (machine learning), NLP, and big data analytics for businesses. beepHR is built on blockchain technology and automatically stores data and applies data analytics to performance reviews, engagement, and much more.