13 Oct How Predictive Analytics Can Improve Global Mobility Team’s Hiring Strategies
How does one segment with accuracy when it comes to hiring talents? One can be armed with extensive employee data on skills, education and background — and yet still find it hard to find the right candidates. Predictive analytics can help global mobility teams streamline strategic planning, improve decision making, enable the employee to benefit from a smarter, more engaging, and efficient lifecycle in the company.
Global mobility teams can better manage attrition, monitor employee sentiment, acquire talent, and plan capacity using analytics in general. A company like Reflektive Analytics uses what it calls last-mile analytics, allowing access to dynamic dashboards for predictive data-backed decision making. To put it simply, predictive analytics takes the raw potential of unprocessed data to extract actionable insights. Why is it important?
Today, predictive analytics has moved beyond the purview of data scientists and IT experts into more mainstream verticals. Companies are now taking what was the domain of a select few, and applying it to real processes, operations that can transform businesses. The power of analytics can make a substantial difference, bringing an element of “predictable, quantifiable outcomes” to something that’s quintessentially dynamic – human capabilities.
Companies welcome this paradigm shift in hiring and growing interests bear this out. In 2015, only 24 percent of employers were reportedly ready to build predictive analytics-based people management models. In 2016, the number jumped to 32 percent.
Here’s how analytics can improve hiring processes, according to HR Technologist:
Get the right people
Companies are increasingly looking at “cultural fit.” To better sift through this challenging metric, some companies are deploying analytics to determine which candidate will complete the workforce. Even traditional aspects of recruitment like checking backgrounds and outlining strategies gain a helping hand from analytics.
Improve performance and boost productivity
Once the ideal employee is identified and successfully onboarded, it’s up to global mobility teams to help maximize their role in the company. Using analytics, managers can keep a hone in on performance, progress, slips, and triumphs.
Upskill the workforce
Weaving analytics into workplace learning can make the search experience more contextual. The ability to predict gaps and plug them with minimal lags in performance is a great-to-have for any organization’s kitty, and modern software is making this simpler than ever before.
Foster deeper engagement
Employee satisfaction has always been hard to measure. Solutions that crunch disparate figures and non-numeric data (surveys, feedbacks, personal interactions) and offer insights can be invaluable. Gusto is a tool that maps a company’s “happiness quotient,” leveraging analytics to understand morale levels, motivation needs, and the overarching status of an employer’s “people culture.” This one bears watching, for sure.
Retain top-tier talent
Employers invest sizable resources in identifying, onboarding, and training workers – those with high turnover end up incurring severe costs. And with high attrition negatively impacting the employer brand, the circle could turn vicious.
Forecast capacity and recruitment requirements
Creating the right checks and balances on optimum job availability as well as possible decline or uptick in demand will also help recruiting teams get a handle on things, knowing exactly when demand will surge and how to fill the gap. Meanwhile, your employees benefit from easing workloads as a result of accurate capacity forecasts.
Assess employee sentiment
Predictive analytics can help assess how an employee feels about company role. By tracking an employee’s opinion on different topics, following his or her data on social media (yes, companies do this), and mapping their performance graph, one can analyze a worker’s motivation quotient, desire to stay on with the company, and oneness with enterprise objectives.
In the end, predictive analytics can create meaningful and satisfying experiences for employees and employers and, in between, the global mobility managers working on both sides of the fence.