BIG DATA has already created a BIG BUZZ in the business. Everyone, everywhere seems to be talking about it. A lot of speculations, anticipations, and expectations are being set around it. While industry has already started analyzing and utilizing BIG DATA for improvement, there is a field that seems to be vastly struggling with BIG Data adaptation – Human Resource.
The benefits of BIG data in HR process improvement are enormous. From Recruiting to Employee engagement, retention, Perks and benefits, BIG data utility can ensure success in all major HR functions. But are the HR pros everywhere geared up for the BIG data challenge? Yes, to an extent they are or at least are preparing for it.
There are some areas where HR needs to focus on so that it doesn’t lose in race against other management and analytic experts
Understating, Managing and working with huge external data
Data to HR is not new. HR pros deal with reports, metrics and results widely but that data is little, it’s small and is usually internal data (within organization). Big data on the other hand is enormous and comes from varied sources, financial reports, employees, suppliers, industry research, phone calls, social media etc. Developing expertise in handling and managing this huge data and its analysis, identifying the correct data sources, picking up the real time and relevant data is must if HR wishes to stay in authority.
Developing expertise in legal and ethical matters
While BIG data comes from varied sources, there are numerous legal and ethical concerns involved in accessing and using that data. HR for long, involved in organizational level audits, LL, ER and compliances now needs to develop better and bigger understanding in these matters.
Budgets and Investments decisions
One area where HR fails to convince management for BIG data utilization is presenting full-proof investment plan. To determine accurate Return of BIG data, it’s important to correctly estimate costs and values associated with it. Since HR has to deal with the BIG data, its budgeting and financing decisions if comes from HR makes more sense. A strong understanding of finance and budgeting can help HR in better decision-making.
Utilizing big data for behavior driven processes
While big data woks great with numbers, figures and statistics, when it comes to sensitive areas such as human behavior, its application and utilization becomes limited. Let’s say for example, Employee performance & engagement is influenced by a lot of factors. While some of them are measurable like perks, compensation, industry trends, experience levels, others like motivational quotient, family environment, Manager, peers and individual behavior are not measurable. Big data implementation in dealing with behavior driven functions is a challenge that HR has to work upon.
As expected, BIG data is here to stay. It is gradually changing the way business and organization are working. For HR, it has become essential to accustom to the change in order to stay productive and competitive.
What’s your take on BIG Data challenges for HR? Is there something I missed ?