Numbers are the language of the universe. It can help to quantify anything and everything. With big data making big waves in the world everyone is bound to ride it, even the HR of every big industry. Big data is helping the HR to take many crucial and strategic decisions for the company. Dresner Advisory Services gave an insight that 53% of all the companies have adopted big data in 2017, which has risen significantly from 17% in 2015.
Big data is helping the HR in acquiring the best talent in a candidate driven job market. A 2013 survey by CareerBuilder of more than 6,000 HR professionals, 27% of U.S. employers stated that one poor hire cost the company more than $50,000. Utilization of big data would help the HR in the swift hiring of worthy candidates and fill up the vacancies thus reducing unnecessary expenditure to the company.
Apart from recruiting, big data can also help in deciding the best training for employees. Employee training and development costs an average $1208 per employee. If the company has low retention, then the effort and money go down the drain.
Big data is also helping the companies have a better engagement as well as good retention among the employees. According to Jason Palmer, president of vehicle safety and efficiency at SmartDrive, big data helps in real-time analysis of information and its condensation into performance data and provide insights to help employees execute their job better. This strategy helps in increasing motivation and employee retention.
An experienced and skilled HR is irreplaceable in a company. More utilization of big data will only help the HR to get the best out of the employees, take proper decisions not based on intuition but based on facts and benefit the company. Hence the future lies in the amalgamation of the skill of the HR and that of the versatility of big data.