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Interviewing and selection: Best assessment
tools, questioning mechanisms, reasons for
joining, long term/short term employee types
Industrial relations: trade union data, collective
bargaining mechanisms that work
Resignation and termination: reasons for resignation, reasons for termination, managing both
Retention mechanisms: motivation factors,
engagement and disengagement of employees
Here are some example on how it has been used thus far:
•
Using performance data, sales data, and employee survey data, retailers determine which employees are most successful and why, then
develop pre-hire screening surveys that predict which applicants are
most likely to succeed and produce higher sales.
•
A restaurant chain conducted a multivariate analysis of financial data
and found that futures contracts for all the agricultural commodities it
uses have a surprisingly big impact on profitability. It redefined the
profile for its buyers and now targets job candidates from top
commodity trading houses.
•
An electronics manufacturing company built a model that predicts
the impact of attrition, wage increases, and profit on each other, to
help each factory use site-specific data to set optimal pay rates and
better manage thin margins.
•
Several companies use embedded sensors in office furniture to better
understand employee behavior patterns that in turn lead to
optimized office design.
•
Some HR organizations are figuring out how to analyze unstructured
data from career-oriented social networking sites not only for recruiting purposes, but to better understand career progressions so they
can create more effective learning and development activities.
Refuting conventional thought:
On agendas such as retention it is easy to assume
that reasons for employee dissatisfaction and scouting for opportunities elsewhere are largely compensation related. Predictive analysis gives depth and
meaning to an employee resignation, bringing to
light factors such as conflict with line manager,
company work ethos, employee generation work
behavior.
Being able to refute assumed wisdom and act
accordingly will be a powerful tool HR will rudder.
From the past stems the future
The HR function is presently predominantly all
about standardization, policy, improving reporting
and adopting new tools.
The positive: data store. HR does pay keen attention
to maintaining records and historical data. All of
which feeds into today’s analysis.
But the focus should be on what data will we most
benefit off and securing that information. Thus
when a company is ready for predictive analysis the
data is already available
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if you have any comments, questions or ideas.