DGFP Congress 2018
Participation in the events of the German Association for Personnel Management has become a good tradition for HRForecast. After our people analytics contribution in May, when the journey under the motto ‘Navigating the Future’ started, we now contributed to the second sprint titled #Mitmachen #Diskutieren #Zuhören. Our workshop “Testing people analytics … or how big data analytics can change HR” resulted in active discussions of an engaged audience. Whether you were unable to attend or want to go through the key findings again – we prepared four insights about Big Data analytics in HR, which were discussed during the session.
- Transparency – a premise for the successful transformation
What are the skills of your employees? Do they have any hidden potential? Is the knowledge of your workforce aligned with the market trends and your business strategy? Algorithms can support you for quick and fact-based answers on these and many other questions by searching all your available data for skills you have been looking for. This creates the transparency needed for a successful transformation.
- Knowledge at your fingertips – always and everywhere
With smart application of technologies, it is possible to reduce time for HR activities and projects immensely and get the needed results in a matter of days or weeks instead of months or even years. Big Data is applicable for recruiting optimization, employee development, strategic workforce planning – you name it! There is a huge amount of available data, which hides the answers to various strategic and business questions. And this is just the beginning…
- Strategic competitive advantages – recognize and use them
Where should I open a new location? Which skills are my competitors hiring? What is the strategy of global market players? – Labor market analytics enables companies to benchmark themselves against industry best-practices, competitors and market trends. Artificial Intelligence is capable to crawl and analyze huge amount of macroeconomic data. Using this opportunity smartly can be translated into strong competitive advantages.
- Future job profiles – detect and operationalize
Digitalization changes the way we work – this is a fact. But what exactly does it impact? Which skills become obsolete? What are essential, upcoming new skills? What tasks and duties could be part of the daily routine in two, five, or even ten years from now? Which new jobs could emerge? Being prepared for whatever is to come is essential. Big Data insights allow you to translate immense amounts of external data – from patents, research papers to innovations – into tangible scenarios for future job profiles. This allows you to hire and develop the talent of tomorrow.