How Human Resource Analytics Helps Retain Better Talent: Part 2
Data analytics in the realm of HR has advanced significantly. While there is still plenty of value in internal employee survey data and company specific feedback, the real answers to how you retain the best employees may not be inside your company anymore. There is a wealth of information in various forms across multiple channels that could help you better understand your workforce and keep them at their desk. New developments in artificial intelligence and machine learning have opened up new ways to process structured and unstructured data, unify internal and external sources of information, and provide clear, actionable, business insights into employee sentiment that will help focus company policy on engaging your workforce more effectively.
Facebook is a number one place where employees feel free to express their concerns over how they feel regarding their job. Online resources such as Glassdoor with 10 million employer reviews, Indeed with 6 million employer reviews, and Kununu, an Austrian based employer review site with 1.5 million reviews, can also help to strengthen your knowledge regarding your workers. Powerful AI driven analytics tools, such as the platform provided by Stratifyd, bring the outside sources of information together with your internal data to provide a complete picture of your employee engagement, needs, feelings, and hopes for their future. Artificial intelligence and machine learning analyze all the collected data, text analytics and sentiment analysis look at the context of words to determine whether they are positive or negative, and in depth, customizable visualizations provide you the ability to study the results. With sharable dashboards, the data can be placed into anyone’s hand without their need to truly understand the depths of data science. They need only know their industry, their job role, and how that data affects them. They can drill down into details that will reveal the true nature of employee engagement and perception.
With strong HR analytics, you can give yourself an edge to see issues before they arise, spend less time figuring out what your employees need, and spend more time providing it to them. An engaged, happy workforce is better for everyone. Understanding employee needs protects your bottom line from significant turnover and increases productivity within your workforce. HR analytics tools can provide significant insight into those policies that are wrong for a changing workforce, helping you identify the areas where you are strongest, and make the changes that need to be made. The economy still runs on people, we need everyone to do their job and do it well. The rules of employment are changing, with HR analytics, you’ll be able to understand the new rules and build a winning strategy for continued employee engagement.