Is Talent Analytics fueling the HR processes?
From Left- (TK Srirang, Head HR, ICICI Bank) (Vishpala Reddy, CHRO, Uber) (Saurabh Govil, President & CHRO, Wipro) (Ester Martinez CEO & Editor-in-Chief, People Matters)
Talent Analytics through data-driven decision-making is enabling HR practitioners to add more value to the business continually. Analytics has strengthened the credibility of decisions taken by HR, as the strategies are now prioritized and managed with data and HR can show where and how much it directly impacts strategic business goals. Through various tools and algorithms, identifying the factors that directly increase productivity has become a reality. From identifying the critical skill sets required for a job for hiring and training purpose to capturing employee's emotions and thoughts for ensuring employee engagement, Talent Analytics seems to be making life easier.
With so much data and information available because of the presence of various technological solutions, the question now remains as to how we are handling the available information and utilizing it to make a strong business case. At Talent Analytics Conclave organized by People Matters in Bangalore, HR heads from Wipro, ICICI Bank, and Uber came together to discuss on this subject.
Here are some insights from the discussion:
Vishpala Reddy, CHRO, Uber shared how the industry that they represent operates in the digital ecosystem. Data-based decision making is part of their culture. Leveraging the power of data is critical for decision making. Today at Uber, many people processes are powered by algorithms that take many variables into consideration, but eventually, the manager has the discretion to take the final call. Therefore, the question is, how to use Data and Analytics to deliver a service in HR.
For instance, ICICI Bank is using talent analytics to map and skill their 83,000 employees across regions, branches, and businesses. They are pushing their development strategy at the individual level by aggregating data from the back end and driving programs and interventions based on the inputs received. TK Srirang, Head HR, ICICI Bank stating this example shared how data has enabled them to customize their talent strategy.
"Leveraging the power of data is critical for decision making. Today at Uber, many people processes are powered by algorithms that take many variables into consideration, but eventually, the manager has the discretion to take the final call," said Vishpala Reddy, CHRO, Uber
Saurabh Govil, President & CHRO, Wipro, further added on to this and shared how at Wipro, they have been able to capture live sentiment analysis of their employees through analytics. With the help of a platform, they can capture any comment on various social networking sites across the globe in Wipro real-time. A country-wise, region-wise and business-wise dashboard of information is created and then managers can look into it simultaneously.
But this doesn’t end here; adds TK Srirang. HR's role goes beyond capturing information and identifying sentiments. Presence of human touch is absolutely critical to the success of any human capital strategy. Giving ICICI Bank's example, he shared that besides collecting Data, they ensure that HR managers visit every branch at least once or twice every year.
It is safe to say that Data Analytics has enabled HRs to move away from the transactional role and they can now play a more human-centric role. Further, to add on to the human aspect of decision making, the other important angle is knowledge of the function itself. Highlighting the importance of functional knowledge, Saurabh Govil, President, and CHRO, Wipro shared that in order to make the most of Talent Analytics and to make a business impact, deep functional knowledge is imperative.
“HR's role goes beyond capturing information and identifying sentiments. Presence of human touch is absolutely critical to the success of any human capital strategy,”
said TK Srirang, Head HR, ICICI Bank
Although Talent Analytics has been the buzz word and the talks about technology disrupting the future of workforce continue to spread, the importance of human touch can’t be ignored. Aspects like the judgment of the hiring manager while choosing the right candidate from the screened CVs, the performance conversation between the reporting manager and the employee and the emotional involvement of HR or leaders in solving issues of their employee are irreplaceable and indispensable.