Many companies worldwide use human capital analytics to support a data-driven decision-making culture. You can compare several aspects of talent data and organizational data to see the impact that changes have on the rest of a business. It all starts with understanding how your company can gather meaningful information. This may help employers make their next talent (management) decisions.
Embracing human capital analytics often helps changing the way an enterprise works, making it more effective and predictive. It is not about taking away the human component and focusing only on the data. It is about merging the two to create something that it greater than the sum of its parts
Using human capital analytics can uncover valuable patterns and correlations. It can also be linked with other big data outputs to look at predictive analysis. Relationships between recruitment assessment scores and successful performance in a particular role can be established when enough data exists. It can have very powerful effects on business processes increasing their success and making them predictive! Most of the information we use and collect is now stored digitally meaning that the data is there and easily accessible.
In order to effectively and consistently use human capital analytics, companies need
Human capital analytics imply that companies should use a data-driven approach to human capital management that will extend across all elements of the employee lifecycle. From sourcing and selection to performance evaluation and succession planning. In an ideal situation, these analytics speak the language that both HR end users and key stakeholders, including their C-Suite counterparts, can understand and act on.