Recruiting and hiring the right employees contributes greatly to a company’s productivity. Many HR professionals are adopting talent analytics in their daily work applications to help identify candidates with the right skills who fit their company best. Tracking and examining key indicators from a human resources dashboard gives the HR team insight into their workforce’s performance, making it easier to identify qualities that made some employees more successful. This information can be used by HR during recruitment to predict the suitability of potential candidates for a particular job.
In this blog post, I am going to give you a walk-through of how talent analytics can help you resolve challenges faced during recruitment processes in an HR department using the following agenda:
- What are talent analytics?
- Why are talent analytics needed in human resources?
- Benefits of talent analytics
- Bold BI and talent analytics
- Bold BI’s dashboard examples for talent analytics
What are talent analytics?
The workforce data of an organization is analyzed and monitored to provide knowledge that can be used when making hiring decisions. An HR department can identify employees with the qualities they value in the company’s current workforce, find indicators of those qualities in their job application materials, and use that knowledge to filter new applicants.
Monitoring continuous feedback analytics gives an HR department insight into their company’s current workforce. They can understand employees’ engagement and effectiveness, and strengths and weaknesses, allowing them to make data-driven plans to improve their workforce. Employees’ productivity can grow smoothly as you increase the overall performance of the company.
Why are talent analytics needed in human resources?
In a human resources department, recruiters need talent analytics to allow them to identify the candidates best equipped for a particular job opening. They can analyze their past and current workforce data and compare it with performance data to help determine which qualities are best for the role.
Talent analytics helps make this situation faster and easier by allowing leaders to identify their most productive employees and employees who were able to meet the expectations of their roles.
HR teams can get insight into both prospective hires and the success of the teams’ recruitment strategies. Analyzing the circumstances and success of past hires gives recruiters a plan for how to find, identify, and interest the best candidates.
Benefits of talent analytics
Talent analytics help companies gather data on their business and increase the productivity and satisfaction of their employees. It allows leaders to monitor the results of training initiatives and incentive programs. Let’s look at some of these benefits in more detail:
- Provides better workforce management
- Increases productivity
- Predicts future performance and behavior
- Effective time management
Provides better workforce management
Talent analytics allow HR teams to collect all information regarding their employees’ capabilities in one place. They help identify the qualities that make the company’s best employees suited to their roles so that a hiring team can look for those qualities in job applicants and also among their own workforce when looking to promote. They can more easily predict when applicants will thrive in a role in their company.
Monitoring these employee metrics also helps HR teams and managers know when to reward employees for their achievements, motivating them to focus on maintaining their high reputation and improving more. On the other hand, analyzing your talent can also reveal when employees need training to improve.
Talent analytics help team leaders determine what skills could improve productivity in their departments. They can examine their current employees’ performance to see who possesses such skills that may be underutilized or teachable to coworkers. With talent analytics information, leaders can also identify skills gaps in different departments that reduce the productivity of the company. This lets them know what kind of training courses to offer to their employees for the most impact on their skills.
Predicts future performance and behavior
Talent analytics can predict employees’ future performance and make boosting that performance less of a guessing game. This can come in the form of training giving employees skills and confidence, challenges to re-engage bored employees, changes in roles to align better with employee interests and skills, or incentives to motivate them. Analyzing your employee data will let you know what your workers need and can forecast how changes will affect your bottom line. Keeping an eye on your talent metrics can also help predict which employees are content working for you and which (and how many) may be looking elsewhere, giving your HR department a heads up for hiring needs.
Effective time management
Talent analytics include hiring metrics such as candidate experience, quality of hire, and hiring manager satisfaction in interviews. Having all this information summarized and displayed in an easy-to-read format helps hiring managers make better choices. They can compare this information to the qualities they know they require after analyzing their current workforce. This allows managers to choose the person most beneficial to the company, thus saving the company’s time and resources by not training less suitable people.
Bold BI and talent analytics
Use Bold BI to organize and present your HR data. Evaluating overall employee performance, sorting out your best employees, figuring out how they were recruited and what in their applications may indicate future success: This is how an HR department can strategize to hire the best recruits in the future. Human resources team members can also keep track of how employees’ training and compensation affects their performance, as even the best new hires require support.
Key features of Bold BI
Bold BI has interactive features that help you better your workforce and recruitment strategies. The following are some of the key features of Bold BI:
- Data visualization
- Data preparation
- Data connectivity
- Predictive analytics
Bold BI visualizes metrics in the form of interactive dashboards with attractive widgets like charts, grids, and maps. These widgets are not only easy to read, but easy to create. Even employees with limited technical expertise can display any metrics they need in Bold BI’s dashboards.
Bold BI offers data preparation features that make your work easier. Such features include visual data modelling, calculated fields, and the Data Integration Platform. With Bold BI, there is no requirement to bring all your data into one data store. You can connect to any data store of your choice directly.
Bold BI lets you connect with over 130 data sources like NoSQL, relational, REST API, big data, and local file sources. You can also directly connect to popular data warehouses like Amazon Redshift to store your transformed data.
Embedded analytics platforms need to be customizable and extensible to meet the specific needs of your applications. Bold BI provides features like theming and event handling that make it especially suited for embedded use.
With Bold BI, every aspect of deployment and routine management, such as provisioning tenants, users, groups, permissions, and scheduling reports, can be fully automated through a rich API layer.
With Bold BI, you can display results from predictive models produced using other machine learning environments. Additionally, you can use built-in methods available for forecasting to help stakeholders identify business risks and understand trends.
Bold BI grants you granular control over access permissions and data security at rest or in transit.
Let’s check out a variety of talent analytics dashboard examples.
Bold BI’s dashboard examples for talent analytics
Workforce Performance Management Dashboard
Embedding a dashboard like this Workforce Performance Management Dashboard example helps track workforce-related KPIs in an HR department. The interactive widgets present in this dashboard help the HR department and top-level management know the quality of their employees’ work and work ethic.
To learn more about the KPIs used in this dashboard example, refer to the Workforce Performance Management Dashboard demo.
HR Recruitment Dashboard
The HR Recruitment Dashboard includes essential recruitment-related KPIs for a human resources (HR) department. HR staff can use these metrics to get a clear view of their hiring situation and provide clarity in the factors that influence the hiring process. With this dashboard, HR staff can see how well their recruitment strategies work, and over time, which ones net the best employees.
To learn more about the KPIs used in this dashboard example, refer to the HR Recruitment Dashboard demo.
HR Attendance Dashboard
Embedding an HR attendance dashboard in your department’s app allows you to see employee attendance details including employee name, employee days present and absent, leave taken, overall attendance percentage, and perfect attendance. Using this dashboard, HR professionals can assess employees’ work ethic and work-life balance to compare to their productivity.
To learn more about this dashboard and its key indicators, refer to the HR Attendance Dashboard example.
HR Payroll Dashboard
Embedding a dashboard like this HR Payroll Dashboard example in your application gives an overview of a company’s employee compensation. These KPIs help HR staff track each employee’s performance and salary details, thus letting them determine how compensation plays a part in their employees’ motivation and performance.
To learn more about the metrics used in this dashboard, manipulate them in this HR Payroll Dashboard example.
HR Employee Details Dashboard
Embedding this HR Employee Details dashboard example helps you track these metrics: employee details, productivity rate, overall labor effectiveness, employee by age, employee salary by month, employee by department, active employees, overall labor effectiveness by department, absentee rate, employee by gender, and absentee rate by department. This gives HR staff knowledge of the overall effectiveness of the company’s employees.
To learn more about the KPIs in this dashboard, refer to the HR Employee Details Dashboard example.
HR Training Dashboard
The HR Training Dashboard example allows you to track training details: total participants, total completed training, cost per participant, cost per hour for training, new participants, participants, participants per training mode, satisfaction level, region-based participants, length of training per course, absentee rate, and compensation classes. With these metrics, HR staff can determine the effect of training on employee performance and motivation.
To learn more about the KPIs used in this dashboard demo, refer to the HR Training Dashboard.
HR Trainer Details Dashboard
The HR Trainer Details Dashboard helps HR professionals track trainer metrics: customer satisfaction cost, performance by trainer, trainer, competency rate, employee training costs, upcoming training sessions, total training hours, and more. This gives them an overview of the average hours spent on training and how that translates into improved performance.
To learn more about the KPIs used in this dashboard example, refer to the HR Trainer Details Dashboard.
HR Training Feedback Dashboard
Embedding an HR training feedback dashboard helps in tracking HR training feedback metrics such as trainer satisfaction, net promoter score trend, trainee performance, and feedback details. This gives an HR department a view of the types of training employees are receiving and their perception of how well that training has prepared them.
To learn more about the KPIs used in this dashboard demo, refer to the HR Training Feedback Dashboard.
Talent analytics let HR departments understand their current workforce, making it easier to determine the qualities of their best employees, as well as the support they needed to bring their best effort. A good understanding of what qualities to look for in applicants and how to support new hires best will lead to a strong workforce. For a more complete look at how dashboards can be used by HR departments, refer to our dashboard examples.
If you have any questions, feel free to post them in the following comments section. Get started with Bold BI by signing up for a free 15-day trial and start creating interactive business intelligence dashboards.