The launch of LinkedIn’s university ranking is a great example on how to turn data into useful insights. LinkedIn states that they have analysed the career path of all their members and from this data drawn the list of best universities by sector. This is certainly more useful than the current approaches and guides as it is not linked to annual ratings and results, but longer-term impact in the real world. Big data drives another nail into the coffin of an established approach by providing a better solution. More will follow. Let’s look at a couple of examples:
Companies like WorkDigital, or indeed LinkedIn itself, can give transparency to the skill sets of your competition and therefore a powerful and numerically driven argument to the Board for investment. It can look at the emergence of skills to inform where to open a business; what training to provide to existing staff to attain required skills; or which programming language to choose so that there won’t be a skill shortage three years later (and with it the enormous contract fees).
eiTalent is using big data analysis for cultural matching that can be used to identify the right fit of the candidate and replaces pure gut feel. Obviously, to match the fit of a candidate’s values to that of a company, the actual brand values (instead of the stated ones) need to be identified as well. This will revolutionise employer brand building (or by that any brand building activity), as we can now truly measure employee engagement through analysing emails and link it to productivity and intent for action. Brand tracking research, as it is offered nowadays, will very soon be a thing of the past. As the employer brand is only a facet of the overall brand, it is easy to imagine how eiTalent’s approach can be rolled out to general brand building and measuring consumer engagement. As an aside, it would be utterly fascinating to measure this in regards to a nation brand.
Joberate analyses social media behaviour of employees to identify the potential flight risk. This enables HR departments to prioritise their interventions based on the real impact to the business – real time analysis instead of hunches, annual appraisals or resignation letters.
Research becomes actionable and can be provided on a much more regular and imminent basis. Appraisals and employee satisfaction surveys as we know them, salary benchmarking by looking through massive binders and categorisations and all similar research can now all be re-imagined and used for much better and imminent effect. It is so exciting and by combining the three approaches (market data, external and internal data sets) mentioned above, so imminently achievable.
It also gives the HR and talent acquisition departments the ability to deal with issues before they become problems. Less fire fighting, more culture and productivity enhancing. It gives HR and recruitment departments the analysis to make really powerful, data driven arguments, which can only help its cause. After all, with lean balance sheets becoming the standard in our digital world, people will be the biggest cost and the most valuable resource in a company. Big data can make analysis, engagement, management, recruitment and most effective deployment of these assets and resources much more impactful. Now, it truly is all about the people.
And as it is all about the people, it is crucial not only to use the data from a company’s perspective but also to share it with the employees. If they want to leave, make the data related to their activities and behaviours accessible to them, so it can help them make decisions on their next opportunity and aid them in achieving their goals.