{"id":5689,"date":"2016-06-11T08:03:28","date_gmt":"2016-06-11T06:03:28","guid":{"rendered":"https:\/\/www.strimgroup.com\/en\/?p=5689"},"modified":"2020-07-11T07:51:08","modified_gmt":"2020-07-11T05:51:08","slug":"people-analytics-at-monster","status":"publish","type":"post","link":"https:\/\/www.strimgroup.com\/en\/blog\/people-analytics-at-monster\/","title":{"rendered":"People Analytics at Monster"},"content":{"rendered":"

On May 12,<\/span> 2016 Jean Paul Isson<\/span> published an interesting blog post in ERE, Recruiting Intelligence<\/span><\/a>, we want to make available to our readers below.<\/span><\/p>\n

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Gone are the days when finding a job involved walking into a business with a WordPerfect resume in hand. Prior to social media networking, cloud, mobile applications, and big data, there was almost no publicly available data or information about your workforce or your competition. You had to rely on sheer instinct and \u201cgut feel\u201d when it came to hiring and retaining employees<\/strong>, because there was no other way to empirically measure and analyze data to make more informed decisions.<\/p>\n

\"7-Pillars-of-People-Analytics\"<\/a><\/p>\n

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Even today, some are still being caught by surprise when a star performer announces in a Friday afternoon meeting that he or she is leaving.<\/p>\n

What if those conversations could be changed? Today\u2019s leading companies are using people analytics to compete and win the war on talent. They quickly understood that the changes that shook the marketing world in the late 1990s (which were driven by the emergence of the World Wide Web and its influx of data), can be applied to HR\/talent acquisition. As a result, they have started using similar analytics techniques to optimize every stage of their talent life cycle management<\/strong>.<\/p>\n

The vast amounts of data available have changed both how seekers find their jobs and how companies attract and retain their talent. The rise of big data and analytics is changing the way the world does business, and this applies to talent management as well. When you combine the way technology has changed the speed at which people communicate with the vast insights available on human behavior, you get knowledge that can be applied to the workforce. This can help us predict employee behavior, identify valuable talent like never before, match capabilities to market needs, retain the best people, and act on proven insights to drive better business outcomes<\/strong>.<\/p>\n

Sounds great, right? While all this information is readily available, companies often are overwhelmed by the data at their disposal, and fail to analyze it against critical workforce questions. The issue today is not the lack of data, but rather how to prioritize, access, and use the deluge of talent data in real time so that it has its greatest impact on the business<\/strong>.<\/p>\n

When you consider that studies have shown that the total human capital cost accounts for 60 to 70 percent of all companies\u2019 expenses, it becomes clear that organizations need to take the guesswork out of their talent management cycle by using analytics, and analytics insights to optimize outcomes<\/strong>.<\/p>\n

What is People Analytics, Anyway?<\/span><\/h2>\n

As the complexity of workforce challenges continues to rise, so too does the demand for more quantitative approaches to address the increasingly difficult people-related questions central to organizational success. Formerly called talent analytics or workforce analytics, people analytics are a set of analytics that starts with a talent-management business question<\/strong> (for instance, who should you attract, acquire, develop, promote, or retain), and integrates internal and external talent data<\/strong> (this refers to publicly available data, company data, and labor market data) to make a prediction about workforce behaviors and actions across the organization, and enables you to track the results<\/strong>.<\/p>\n

The power of people analytics is in its ability to challenge conventional wisdom, influence behavior, enable talent and business leaders to make and execute smarter and more strategic workforce decisions, and ultimately impact business outcomes<\/strong>.<\/p>\n

Solving for Today\u00b4s Complex Challenges<\/span><\/h2>\n

Based on my first-hand experience building and implementing advanced business analytics teams and solutions, and enriched by my conversations with people across the world about their most pressing challenges while presenting at conferences, panel discussions, and keynotes over the past 10 years, I realized that there was an opportunity to apply traditional business analytics techniques to workforce and human capital challenges. I then spoke with and conducted research with more than 340 industry leaders and experts across the human-resources\u00a0discipline, from talent acquisition and retention, talent development to staffing, data analysts, and business partners, to learn about their most important business priorities and challenges.<\/p>\n

Four major challenges<\/strong><\/span> and seven talent management priorities<\/strong><\/span> emerged from my research and interviews with them:<\/p>\n