Now more than ever, companies need to understand their talent narrative. In order to piece their story together you have to know where you’ve been, where you are currently and where you are going. The only way to put this puzzle together is with predictive analytics. Taking snapshots of your talent management cycle to understand the wants, needs, and motivations of the people you are trying to attract and retain can assist you making more accurate and intentional decisions regarding your workforce. Additionally, predictive analytics allows businesses to have a lens into those underlying variables that may be negatively affecting your business and hindering future successes.
According to a November 2014 CEB Survey, 25 talent leaders in North America and Europe reported the following as key talent management focuses for 2015-2016:
1)Driving Employee Engagement
2)Retaining Critical Talent
3)Improving Talent Analytics
According to this same survey only 15% of HR leaders have changed a decision as a result of using data in the past year.
To get to the bottom of these concerns, you have to be willing to let the data tell the story. You can tell any story you want with data. Utilizing data to understand the narrative that is most important to your business is what will lead to the most meaningful results.