If you’d heard it once, you’ve heard it a million times. Predictive analytics in HR. We can all agree that predictive analytics is not going away (a good thing because leveraging the approach properly will behoove you and your organization) so we began pondering how this approach will impact you, your organization and the HR field in the future. We have been in this space for close to 10 years living and breathing predictive analytics so we’re basing our predictions on our expertise and practical application. We hope you join us for this five-part blog series that unveils visions from the SMD crystal ball. We are interested to hear if you agree.
#1 The Data Balancing Act
We believe that organizations will increasingly understand the value of “Big Data” and will work to connect data sources across their organization in order to more effectively conduct analytics and strategically answer important business questions. Applause for analytics done correctly!
However, we envision HR still struggling with the balancing act. What we mean by that is, there is a balance between just having more data and having the right data. Think about all the data HR already owns: HRIS, employee surveys, 360 feedback, candidate data from an ATS, performance management ratings, etc. The reality is that lots of data already exists and many practitioners will continue to have an insatiable–and unnecessary in our humble opinion–need for more data.
Our advice to you (if this prediction comes true in your organization): remember that the need is to harvest the power of data to identify drivers of outcomes. HR functions are better off leveraging the intelligence from the data they have instead of racing to gather more data.
Stay tuned for next week’s prediction #2.