Like all aspects of what modern businesses demand, technological advancements are proof that their adoption is transforming the way businesses operate and function. From IoT to cloud computing, big data, AR and VR, a range of emerging technologies are now paving their way into the more informed HR departments of the various companies.
Analytics is another important aspect of HR domain. Initially all the collection, processing, and analysis of data were mostly manual. But with time, HR departments have realized the utility of machine learning in their game; this is because ML has multiple uses such as attrition prediction, right hiring, and human resource.
Check out: Top HR Analytics Companies
Machine learning in HR
The expectations and the demand for the HR department are changing. Previously, HR would invest time on finding suitable candidates, facilitates assessment, and manage employee careers. But now, HR is expected to add more value to the whole scenario. HR needs updated analytics on relevant factors such as employee sentiments, their attitude towards the policies, and attractiveness of the market opportunities versus the ones offered by the organization; and all this is done with the help of ML.
Extensive Data: ML to the Rescue
To manage employees one must have sufficient data on employee attitudes and feelings, their credentials or qualifications, compensation and benefits trends. All of this adds up to a humongous data volume arriving every moment. However, ML is all set to handle the data as it is an appropriate technology to consistently accept, store, and process such extensive datasets and provide relevant and actionable insights in the form of simple analytics.
Accurate Predictions through ML
Machine Learning can predict key developments like attrition or success in job roles and can also predict adverse events like anomalies or unethical behavior. For instance, the success likelihood of an employee can be predicted on the analysis of past data such as their project performance, knowledge base, and their attitude towards the organizational policies. Findings based on these parameters can be used in decision-making process.
Organizations are all set to reap the benefits of adopting machine learning. While ML has already reduced manual efforts, it is expected to become even more accurate shortly. It is predicted to be prominent in areas like attrition prediction, employee management and business profits.
Few HR Analytics Companies(PredictiveHR- Beyond HR, Perceptyx, Pegasus Knowledge Solutions)
