Big Data and Predictive Analytics: A Facilitator for Talent Management

Abstract

Big data has become a business buzz word. This paper explores the role and significance of big data in talent management. It also delineates various challenges faced in using big data for HR professionals. Convergence of talent and technology is bringing paradigm shift in trends pertaining to management of human resources. The emergence of big data and predictive analytics is reverberating the human resource domain. Today workforce in organizations is multigenerational, multicultural, and multilingual. Arrival of Gen Y and Gen Z has posed diverse challenges to the HR professionals. Customization of policies and opportunities to cater to the needs of diverse workforce has created the need to integrate technology as an indispensable part of HRM strategy. The data-driven, changing business environment requires correct analytics for business survival and sustainability. Human resource professionals are ready to embrace this revolution of big data in HR areas. Towers Watson survey conducted on more than 1,000 organizations last year found that human resource data and analytics are among the top three areas of HR technology. Analytics can be adopted as a strategic tool for enrichment, empowerment, and engagement of employees. Recruitment and retention of employees can also be improved to win the war for talent. Business strategy realizations are based on the available pool of talent. Human capital brings business strategies to life. Role of human capital professionals is transforming as strategic business partners and changes drivers. Talent management insights based on big data can be a big business differentiator. Right human capital management can prove as competitive advantage for organizations. Manpower analytics provides agility to organizations which results in their survival and growth. This paper attempts to throw light on application of big data and predictive analytics tools for human resource management. Inclusion of big data analytics can be a big deal for human capital management. Big data along with predictive analytics can bring lot of opportunities for human capital management. Discussion in international conferences and seminars has helped in developing the content of the paper. Insights from various articles on the said topic have also been incorporated. In order to develop this paper, key learning is also derived from white papers of reputed organizations.