What are Workforce Talent Analytics?
Also known as workforce analytics, human capital analytics, or human resource analytics, Talent Analytics is an exciting and fast-growing area in human resources
Whilst many organisations will have financial, sales, marketing, and operations systems and analytics already in place to highlight trends and to drive their businesses, a report by Deloitte shows that only 4% of companies currently have predictive talent analytics.
Deloitte predicts that companies who use this kind of analytics data will outperform their competitors when it comes to hiring and retaining the best talent.
Essentially it is a software that gathers data driven insights into a company’s current workforce and potential employees.
What can Workforce Talent Analytics do for your business?
How much of the time do we rely on gut feel or hearsay when making people decisions?
Analytics will empower you to drive your business performance and shape strategy using data-driven people insights and in doing so make better business decisions which will increase your employee’s engagement and retention and improve productivity and revenue.
So imagine if you absolutely knew you had the best talent and skills onboard when your company is ready to expand, create a new product or service or move into a different area altogether or cope with unimaginable change?
Imagine if you could accurately predict how successful they would be in a role or had insights into which areas someone was disengaged so you could proactively manage those conversations with them?
That’s no longer wishful thinking, with talent analytics it can be a reality.
By attracting the right people, onboarding them effectively, developing them and keeping them engaged, you will not only make better informed people and business decisions, you will improve your business performance, productivity and revenue and be able to proactively shape strategy.
What can Talent Analytics do for you?
1. For HR – you will look like heroes
- Save valuable time and money by simplifying recruitment, leadership and succession planning processes
- Provide data driven people insights which inform strategy and business decisions and allow you to truly business partner
- Give your measurable objective data not subjective opinions
- Enable you to target your training and development budgets wisely to get the best ROI
- Accurately measure the competencies, culture and values of the organisation
- Benchmark excellence by accurately defining the behaviours of the top performers and replicating them
- Manage career succession and have a pipeline of “ready” people
- Develop confident and capable leaders who are equipped with the right behaviours and skills to lead effectively, to inspire their team and achieve amazing results through their people
2. For Internal recruitment teams
- Reduce recruitment administration by up to 75%
- Reduce reliance on and the cost of external agencies
- Create an amazing candidate experience
- Recruit the right people and avoid catastrophic recruitment mistakes and the fallout that comes after
- Accurately predict success in role
- Focus your time to the things that matter
3. For Business owners
- Employ the right employees, develop them effectively in order to provide you with the right work life balance so you can plan your exit strategy
I Use Harrison Talent Analytics
Harrison Assessments uses predictive analytics to help organisations acquire, develop, lead and engage their talent. This comprehensive
Talent Decision Analytics provides the intelligence throughout the talent life cycle to build effective teams, develop, engage and retain key talent.
Contact me to learn more how we help organisations make great decisions.