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How Data Science Can Help HR in Recruiting Evaluating Retaining
Tech
1 year ago

Applying data science to HR and obtaining actionable data intelligence can help businesses retain valuable talent and keep their workers happy, cut expenses, and increase revenue.

A daily analysis is needed to produce insights for proactive action in critical HR processes like hiring, training and development, work performance analysis, employee discontent management, and retention management, among others. The business invests time, money, and resources in these activities. If the company doesn't choose the right candidate for the right job at the right moment, the time and money invested in hiring are wasted. 

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Following the hiring of the prospects, the organization should create and implement new Data Science tactics to keep them on board for the duration of their employment.


 

How Can Data Science Help HR?


 

In the modern world, businesses have begun implementing deep data science technologies in various business functions, including marketing, sales, and customer support, among others, and have already experienced some success. Artificial intelligence (AI), machine learning (ML), deep learning (DL), natural language processing (NLP), and other data science technologies can be very helpful to the human resources department in extracting useful data intelligence to develop more effective strategies.


 

Performance Assessment

For its 600 employees spread across three distinct locations, Jelly Belly, a candy manufacturer in the US, has used two different performance analysis procedures. It once employed an old-fashioned method of performance analysis and evaluation. It also used conventional methods in other places. Following every year's performance review meeting, Jelly Belly began observing an increase in employee turnover rate. After some time, they made the decision to employ a data science-based automated performance monitoring system.


 

Data science technologies can create performance analysis systems that do not rely on human biases or errors and provide a complete picture of an employee's input to the company. This can assist a business in locating top performers, rewarding them, and keeping them on for longer.


 

Data-driven Hiring

Finding the right profile at the right moment reduces the likelihood of passing up the ideal candidate. The trained system assists in the hiring process by eliminating the list of unwanted or unqualified applications until the system locates the ideal applicant profile. Additionally, making the best recommendations at different points in the employee life cycle helps keep the asset.

The hiring procedure is search-based. Hiring the best prospects for the desired profile can be difficult when humans carry out a search due to the possibility of bias and human errors.


 

Retention Management

Workers are important resources. And each month that goes by, the company recognizes an increasing value. According to a Center for American Progress study, replacing a worker costs a company about one-fifth of its salary. Developing machine learning algorithms to predict attrition can greatly reduce these costs for companies with high employee churn. The HR department can enhance its employee retention strategies and plan new hiring in advance with data intelligence on the reasons and times when employees are most likely to leave.


 

Companies can use the same data science tools to understand their employees in order to improve the workplace, just as they use technologies like natural language to understand consumer sentiments. A few years ago, Gartner recognized how crucial it was to understand their employees. The business gathers information from employees' social media profiles, emails, forums, and other sources. In order to foster a friendly atmosphere for employees, the gathered data is analyzed to produce quarterly reports, and the employee reports are sent to the appropriate coordinating managers.


 

All in all, using data science in HR at different stages of the employee lifecycle will assist the HR department in obtaining actionable intelligence that helps in understanding the employee image of a business, the work environment, the difficulties they are having completing a specific task, etc. This can aid the business in developing effective HR strategies and better understanding its workforce. If you are curious about how to work with data, you can refer to the online Data Analytics course in Delhi, and learn directly from the industry experts.