The rise of Big Data has proven to be transformative across all forms and sizes of industry. From manufacturing to advertising, Big Data provides companies with relevant, immediate insight into internal process and procedures, as well as a dynamic marketplace that can pivot on a dime. From an HR tech trend perspective, HR experts are in a constant, resource-draining battle for new, talented employees, Big Data helps offer a valuable vision and an indispensable set of tools to make the recruiting process manageable, efficient and effective.
customization for each individual recruit
While data analysis is nothing new, the ability to take vast quantities and reduce it to usable, insightful and concise bits has only just become a reality thanks to Big Data and its associated technologies. HR administrators can now create personalized benefits and compensation packages for each recruit they're trying to attract to the company. For instance, if a specific recruit does not live relatively close to the workplace, Big Data applications can help organize and assemble an employment offer that compensates for the increased commute distance, time spent in traffic, and overall impact on personal and professional productivity. Although assembling such customized packages isn't a groundbreaking innovation in and of itself, the ability to streamline the process is certainly new. It is also a tremendous tool to increase efficiency and minimize expenditures of time and limited resources within an HR department.
analytical precision to peer into the future
Of course, the benefits of Big Data also include the many applications that use it for gaining new insights and perspectives. Using trend analysis based on the data, companies can now predict where a future influx of recruitable talent will come from, how it will best benefit an organization, and what combination of benefits and compensation will most likely appeal. While it might seem like the work of science fiction, Big Data can accurately foresee pending trends in the marketplace and allow HR departments to act and react accordingly. Big Data is no longer relegated to speeches and articles discussing the future of recruiting. Ready or not, Big Data and the future it entails has already arrived; it is now being used in HR departments all over the world to make recruiting efforts more efficient and successful than ever before. Platforms are available for all sizes of organizations, and HR administrators would be wise to see how Big Data might benefit their own recruiting procedures before they're lapped by the competition.