In honor of our most recent announcement launching The Workforce Lab (did you see it? Here it is in case you missed it), this week's Talent and HR News Weekly Roundup focuses on big data in HR. Big data is making a splash outside of HR, so here are ways the HR world can leverage the latest trend.
1) HR Struggles with Big Data Benefits from Inside HR
"HR professionals should seriously examine the relevance and potential limitations of big data when it comes to the HR function, according to an expert in HR technology and strategy. 'Big data is one of the more over hyped things in the world right now,' said Jason Averbook, CEO and cofounder of human capital management consultancy Knowledge Infusion. 'While it’s true that we have more data, the question is do we have the right data?' Averbook said hype around big data may be another case of the HR community’s over-reliance on technology to solve organisational problems. While HR has done well in automating process, the function has generally struggled in moving 'process to prescription', he said."
2) Can Big Data save HR? from HR C-Suite
"According to recent research, 98% of the world’s information is now stored digitally and the volume of that data has quadrupled since 2007. That data is mainly made up of ordinary people like you and me at work and at home, sending e-mails, surfing the internet and using social media. But what happens to all that data and how will it affect the way we live and work? In their recent book, Big Data: A revolution That Will Transform How We Live, Work and Think, Viktor Mayer-Schönberger and Kenneth Cukier state that datafication ‘like other infrastructural advances, will bring about fundamental changes to society’."
3) This is how tech is helping HR professionals from ETCIO.com
"Workforce engagement and transformation are top priorities for human resource (HR) professionals and C-suite leaders. One of the major HR challenge is the ability to attract and retain top talent while making sure the existing workforce is fully engaged to deliver exceptional results. As per a study, two out of five CEOs expect their next competitive threat to come from organisations outside their industries, requiring them to completely rethink their workforce design and processes. Information technology vendors have jumped in to help large enterprises for the transformational change required to build a smarter, more connected workforce. The vendors are offering technology and tools to transform initiatives in four key areas - organisational change, talent analytics, employee experience and HR cloud - to manage and access their HR solutions and assets to drive business results."
4) Big Data: Still Confused? from LinkedIn
"Outside of HR, 'big data' has been defined as large, complex data sets which make computation and analysis difficult. So what does that mean? How large is large? As computational power continues to increase, the definition of 'large' must surely move along with it. Do I reach 'large' when I exceed the row limits in Excel? Microsoft Access? When I can no longer run my statistical software? Do I reach 'large' when I can no longer use a PC or laptop for computation? In viewing a conference session recently, a panel of experts was asked to define what 'big data' meant to them. The definitions varied widely. Several defined it as information that couldn’t be processed on one machine or data which was 'bigger than you can count.' If a machine can count it but a human can’t, was it countable? Others placed less emphasis on the volume of data and referenced combining multiple data sets to provide the foundation for an analysis not previously performed. Here’s my opinion on the topic."
5) The Impact of 'Big Data' on Human Resources in Turkey from The Chapman Consulting Group
"On 12 August, The Chapman Consulting Group and sister company BeathChapman co-hosted the company’s first ever Global HR Leaders session in Turkey, bringing together over 50 HR Leaders to discuss ‘big data.’ The meeting was hosted at Unilever’s Istanbul offices where participants attended from a range of both local and multinational organisations, such as BASF, Carrefour, Denizbank, Ericcson, Mondelez and Zorlu Holding. The discussion centred on the changing face of Human Resources and the impact of ‘big data’ on HR management and practices in Turkey. Not long ago, ‘big data’ was considered as nothing more than a collection of information, whereas today it forms a critical component in strategic decision-making processes in the majority of large companies."
6) Bringing HR back in the Center through Analytics from HR Tech Europe
"Big data and analytics are no longer concepts of science fiction. We may not be uniformly dressed in silver jumpsuits using the Jetsons flying cars, but we did fulfill many technological expectations of our ancestors. Collecting and processing massive amounts of data to gain deeper insight into human and market behavior are in a very real way part of many business processes. It was only natural that HR departments hopped on the data train and started reaping the benefits of analytics. Some are more successful than others, so we decided to talk to an expert in the field, Patrick Coolen, to take a closer look at the integration of analytics into HR functions."
Lexi Gordon is a Lead Consultant for exaqueo, a workforce consultancy that helps organizations build their cultures, employer brands and talent strategies. Contact exaqueo to learn more about how we can help you build a workforce that’s aligned with your company culture and develop an employer brand that will allow your business to scale the right way.