Several decades ago, the career of people talents analytics was unknown. While numerous organizations focused on their overall teams and productivity and efficiency levels, little attention was paid to individual employees and their strengths and weaknesses. Nowadays, people talent analytics is mainly applied by Human Resource departments since it provides solutions that are very complimentary to their mission (Srivastava & Mohsin, 2020). This subcategory of data analytics is concerned with comprehending personnel data that may be used to navigate the company’s choices about recruiting, retaining, or enhancing the performance of a pool of present or future staff.
In the given reality, people talent analytics is especially popular. For example, among the trends that concern this analytics category are the establishment of diversity, business metrics monitoring, and employee professional development. When it comes to the point of diversity, the topic of discrimination has become immensely evident (Minbaeva & Vardi, 2018). This is when people talent analytics becomes especially helpful. In this case, such software and data processing can help the company determine whether there are any gaps regarding minority employees and if such gaps are found, the managers will be able to take action.
As for business metrics monitoring, it is evident that the efficiency and profitability of the organization rely heavily on the employees. With the help of people talent analytics, the supervisors will have access to such information as what employees are the most and least productive and which employees bring the most significant results (McIver et al., 2018). Consequently, people responsible for these analytics and metrics will be able to communicate the indicators to the supervisors, including retention rates or sales staffing.
The last trend of people talent analytics relates to employee professional development. With the help of this subcategory of data analytics, it becomes possible to identify gaps in employees’ experience and expertise and provide appropriate training (Nocker & Sena, 2019). With the use of talent analytics, fast-growing companies can determine the most valuable employees and help them develop their skills further to boost the company’s results in the long run.
As can be seen from the trends in talent analytics, such a field can be quite beneficial. Talent analytics has many advantages, such as productivity increase, staff retention increase, and prevention of workplace misconduct. When it comes to productivity increase, such change is not the constant analysis of employees and their progress but the benefits of exceptional results. In this situation, it is vital to mention key performance indicators that allow the managers to monitor the productivity of the individual. As a result, both parties are rewarded, with employees receiving monetary compensation and the organization boosting its ROI.
Another advantage of talent analytics is the increase in staff retention. It has been mentioned that the objective of talent analytics is to retrieve valuable personnel data that ultimately will help with further decisions. This can be applied to this situation since supervisors can collect data on the conditions that might seem unbearable to the personnel. In the end, the organization will have a chance to improve the work conditions.
The last benefit of talent analytics is the prevention of workplace misconduct. Same as in the previous paragraph, the ability to collect the necessary data reinforces the quality of the company’s operations and workplace conditions. For example, with the identification and analysis of specific occurrences, the managers will be able to address these issues and work toward their elimination either with the help of training or any other measures.
Nevertheless, it is noteworthy to mention the risks of talent analytics. The first disadvantage that the company might face is the lack of employees’ expertise responsible in this field. Consequently, the quality of data will decrease immensely due to possible mistakes. For example, the analysts might assess the staff using only a few metrics and tools, which might lead to failures rather than success in the future.
Another disadvantage of talent analytics is related to inadequate attention to all indicators. For example, the analysts might only monitor HR efficiency measures while ignoring the influence of talent management on company profits. As has been mentioned, talent analytics is intertwined with business metrics. As a result, both HR efficiency measures and the company’s profitability metrics should be analyzed together since the managers need to identify the correlation between the two.
Hence, although people talent analytics was not common decades ago, now it is a crucial component of a company’s health and success. People talent analytics is a subcategory of data analytics that focuses on collecting personnel information that could ultimately help the organization become more efficient and productive. Nowadays, people talent analytics trends make this field especially beneficial due to the alleviation of such processes as business metrics monitoring, employee professional development, and diversity incorporation. However, other benefits make this kind of analytics advantageous aside from these trends. Among these benefits are productivity increase, staff retention increase, and prevention of workplace misconduct. Lastly, while there are risks associated with insufficient knowledge of the analysts, advantages still tend to prevail.
References
McIver, D., Lengnick-Hall, M. L., & Lengnick-Hall, C. A. (2018). A strategic approach to workforce analytics: Integrating science and agility. Business Horizons, 61(3), 397-407.
Minbaeva, D., & Vardi, S. (2018). Global talent management. Routledge.
Nocker, M., & Sena, V. (2019). Big data and human resources management: The rise of talent analytics. Social Sciences, 8(10), 273.
Srivastava, N., & Mohsin, F. (2020). Workforce analytics: Need of the modern organisations. International Journal of Psychosocial Rehabilitation, 24(05).