According to Deloitte’s Global Human Capital Trends 2020, 53% of company leaders have a desire to use workforce metrics and data analytics. HR data analytics is a hot topic for most tech-minded HR professionals, but most HR professionals are unsure of what it is, and how to do it. Analytics is basically interpreting data patterns for performance improvement to assist in making decisions. HR analytics will look at data to find insights and impact of hiring procedures, retention rates, performance, attendance, employee engagement, etc. At beepnow, we can help solve many of the issues associated with performing HR data analytics. In this article, we will address a few issues in Data Analytics.
Data collection, Unstructured Data, and Trustworthiness
Data collection can be difficult. HR data might be stored on multiple systems in multiple places including located in actual paper files cabinets stored under lock and key. To perform HR data analytics, it is necessary to collect the data, clean up the data, and analyze the data across a myriad of departments and functions. Some data collected may be unstructured, other data might be structured. Often data might be untrustworthy or stored and collected in poor ways, having untrustworthy data could lead to issues performing data analytics. An HR system should store data reliably and should be able to be updated securely and in real-time. At beepnow, we solve this issue by regularly collecting data (including unstructured data) in a secure and trustworthy manner using blockchain technology and AI.
Lack of Digital Transformation, Absence of IT Resources
HR analytics can be time and resource-intensive, many companies especially smaller organizations lack infrastructure for an analytics program. Cloud-based services and SaaS solutions can help alleviate these issues in a cost-effective way. Secondly, many HR professionals lack any real data expertise. Many HR professionals simply do not have the education or experience with data analytics this puts an additional strain on IT departments. beepnow, helps alleviate these issues with an easy to use dashboard and many HR metrics performed automatically with the use of AI, beepnow will also help with more complex analytics as well.
Privacy and Compliance
HR departments collect sensitive data from candidates and employees and as a result data privacy is an issue for HR. Types of information HR collects might be race, gender, health information, age, and more. A system that collects data must be secured and collected with permissions. In order to combat this beepnow uses blockchain to improve security and protect private information, the information will only be shared if candidates, employees, and employers all agree using private and public security keys for their data similar to a cryptocurrency wallet, instead, it will be a crypto-resume that is sharable while protecting the privacy and securing data.
Embracing Digital Transformation
While most HR professionals and leaders today embrace the idea of digital transformation, they lack both the knowledge and technology required. Some organizations have issues with having key personnel able to conduct data analytics. This requires hiring the right personnel and creating teams dedicated to digital transformation. However, the move towards a digital transformation and utilizing data analytics will improve any business that decides to invest in it. beepnow is dedicated to helping companies digitally transform HR and work. Our software, beepHR and beepShift are built on saving time and money. It also improves data collection and data security in addition to improving trust. If you are ready to digitally transform work, please contact us.