Niranjan Krishnan, Head – Data Science and Innovation Labs, spoke to Pam Baker on how Workforce Analytics can improve Talent Management.
Niranjan’s quotes used in the article are shared here: “Workforce analytics can be used at all three major phases of talent management — talent acquisition, retention and nurture.
In talent acquisition – Analytic solutions can automatically scan applicants’ submitted profile; pull in external data, like their social media activity; carry out any background checks; and automatically create a short list for manual review. This can drastically cut down the recruiting lifecycle.
In talent nurturing – Large organizations have accumulated rich data on employees’ career progressions over a 10- to 15-year period. Statistical models can trace the career journeys of senior managers and use that to identify high-flyers early in their journey. By looking at an employee’s growth potential with their attrition risk, organizations can carry out highly focused interventions on just those employees.
In talent retention – Often, people who leave their jobs exhibit certain traits over an extended period of time before they actually take the leap. Statistical models can pick up on those traits and flag such people six-plus months before they actually leave. An early warning system like this allows managers to intervene in a timely fashion and reduce the risk of their direct reports leaving, or [to] plan and prepare for it, as the case may be.”
The complete article can be read here – http://searchfinancialapplications.techtarget.com/feature/Nine-ways-workforce-analytics-can-improve-talent-management