Talent Management - An Opportunity in 2022 - Emptor

In 2022, in an organization it is not enough to attract talent for your company; in addition to this, it is important to have a human talent management strategy that must include plans and processes to develop the human resource.

Currently, in a globalized world, for a company to be successful it is essential to have its capacity to innovate and implement plans. In the last decades, the evolution of human resources to human talent management has changed the concept, which is defined as a set of processes that have been designed to attract, develop, motivate and retain collaborators in an organization.

In the context of collaboration and remote hiring, talent management includes thinking about the well-being of employees and their families as a benefit. Flexible schedules and optional office attendance have come to contribute to the benefits that employees appreciate the most.

Part of well-being is supporting employees to the extent of the company’s possibilities, with psychological support, stress management, proper nutrition and programs or agreements with sports and/or financial institutions for the policyholders and their families. An overwhelmed employee is not productive in their work when they are overwhelmed, nor can they perform in the same way as someone who knows they are protected by a company that cares about them.

Generally, talent management is associated with competency-based management. Competencies are a set of skills, techniques or ways of thinking that allow an employee to perform their duties. They help personnel identify with the organization’s objectives and in turn allow for more efficient decision-making and conflict resolution, thus contributing to the training of leaders and directors. They lead to and entail an increase in productivity and work quality.

Big Data Applications in Human Resources

5 Big Data Applications in HR

Application 1: Minimize the costs associated with a bad hire.
A bad hire is a costly mistake for HR professionals and the organization. It nullifies HR’s effort to recruit and onboard a new staff member; the training time the team they join dedicates; and not to mention the costs of finding their replacement, in addition to the impact on operations.
Big Data can help HR minimize bad hires and the costs they incur. HR managers turn to big data analytics to choose the right candidate, using the data to match the company and team requirements with those of the candidates. As the war for talent gets tougher, it is imperative that talent managers make the right decisions during recruitment and optimize their efforts.

Application 2: Increase the organization’s employee retention rate.
It is always preferable to retain existing staff than to hire new ones regularly. However, HR managers need to implement the right training modules and skill assessment controls with clear objectives and a well-defined plan.
Big data analysis can help HR make the best use of their hires, retaining them for longer and helping the organization reinvent personnel as per the needs of the moment. This will also allow employees to leverage the benefits of internal mobility and promotions. Big Data can help the HR department detect employees who are likely to leave, who may need more training, and who can be transferred to other departments based on other skills, among other things. It enables talent administrators to take appropriate measures, choosing to find and retain high-value employees by offering them challenging roles or other incentives.

Application 3: Predict employee performance even before hiring them.
This was not possible before. Big Data makes it possible for HR and talent management professionals to forecast how an employee will perform even before hiring the person. They can do this by determining if a potential hire would fit the company culture and deliver a satisfactory outcome.
It is not always easy to manually compare a person’s attributes and job performance to those of top performers. Analytics eliminate the ambiguity of the equation and use the profile of your high-performing employees to scan the right target profiles for your company. Many platforms already use this model to offer freelance help to companies on their projects. Big Data can make solid and almost accurate predictions for your organization.

Application 4: Provide more and better tailored benefit packages.
Many HR departments are unaware of the importance of additional benefits for employees. Surveys, time and again, have shown their role in incentivizing people to stay.
Big Data can help you gather information about your personnel and potential candidates to better plan more focused additional benefits for them. This can offer an excellent way to attract and retain talent.

Application 5: Combat legal and ethical risks associated with data.
Data privacy is a great area of opportunity for large organizations and institutions, both from a legal and ethical standpoint. This is an area where the value of Big Data is improved and legalized.
HR executives must step up their efforts to ensure data privacy from the start. Fears about the misuse of information provided to the public, and even to employers, are increasing. HR departments can address these issues by implementing the right IT controls and infrastructure. It’s worth exploring the benefits of Big Data for your organization. According to a Gartner survey, around 23% of companies are already piloting the Big Data and AI use case in human resources. Is your company one of them?

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