Predictive talent analytics, which helps in predicting employee performance, attrition and cost using Big Data analysis, is the future of talent hunting, but only 7 per cent of companies employ it to find the right hire, a survey says.
According to a TJinsite survey from TimesJobs.Com across industries, as much as 90 per cent companies said the hiring tool holds promise.
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Going forward, 65 per cent aim to embrace predictive talent analytics in the next one year though, the survey noted.
“The ability to move from gut-based judgements to data-driven decision-making is what makes PTA the future of HR in India,” TimesJobs.Com COO Vivek Madhukar said.
HR metrics such as turnover rates, cost per hire, time to hire, sourcing channel, open vacancies versus positions filled, offer to acceptance ratios, etc. Are some data points used in PTA.
The survey noted that with changing business dynamics and an accelerating pace of growth and competition, predictive analytics can be a game-changer.
Over 55 per cent of organizations feel that an effective HR data analytics practice helps secure quality hires and nearly 22 per cent of the respondents think the use of data helps improve recruitment turnaround time.
Sector-wise, the IT sector topped the chart with over 80 per cent of IT organizations saying they have a robust analytics process in place, followed by healthcare with 72 per cent.
By: Press Trust of India
Originally published at www.business-standard.com
