Analytics in Human Capital Management:- A recruiter's perspective

With the increasingly competitive world of business there is a very high focus on automation, reduction of cost, increase in productivity and taking smarter decisions.Specially after the recession of 2008-09 there has been a very high focus on the optimized utilization of resources .

The most critical asset of of 3 pillars of success ( People, Process and Technology ) is People. A data and facts based analytical decision capability can improve the decision making capabilities in the organization across the 5 phase life cycle of managing the human capital

a. Recruitment

b. Performance Assessment & evaluation

c. Compensation and benefits

d. Learning and Development

e. Succession or Attrition

Implementation of Analytics will enable the organization to maintain an agile, engaged and more enabled workforce.

Analytics at Recruitment level acts as the first scientific step to

1. Eliminate incorrect hiring

2. Assess engagement level

3. Identify the skill based break-even point

4. Assess correct fitment

5. Match performance expectations

The development of an Agile work-force for value creation in large organizations needs effective and efficient decisions. Quantitative analysis and data mining of the applicant's data will lead to Lead prioritizing, Behavioral analysis and Threshold trait analysis. Using BI and Analytics tools one can create a balanced scorecard for hiring and provide the hiring manager with a magic quadrant similar to Gartner analysis or with an Abacus point analysis for hiring the top talent and the right time.

Managing the right talent gives the organization a competitive edge over the other players in the market. Most CEOs, HR managers and executives would agree that managing the 'Human Capital' is the only way an organization can have a sustainable advantage for developing its knowledge, its core competency, unique selling proposition , its skills and the force that drives the vision of the organization.

I would say Redefine the Strategy for managing most important Capital Human Capital