HR as a function has undeniable importance from a business management perspective. With the advancement in technology, 2019 saw a huge technological shift in this aspect of business management as well. Apart from digitizing all other business aspects, organizations have begun to incorporate technology and data into HR practices as well. Some of the best case studies from 2019 showcasing the trend and its benefits are listed below:
An American MNC reduces attrition using people analytics and forecasting
Case: This American MNC is a client of PeopleStrong and is suffering from high turnover of employees at five locations. The company intended to install analytics in order to evaluate the main drivers of attrition and do a forecasting for their occurrence at the different business locations.
Solution: An integrated tool for workforce analytics was created and implemented. This tool could capture attrition results and their drivers and do a forecasting based on trends.
Result: The forecasting report predicted that 500 of the 5000 employees were going to quit in the next 6 months. Better employee retention policies were designed which included rewards and incentives apart from better people strategies. Even though 250 people still left, the figure was 50% lower than the prediction.
Under Armour digitized employee recruitment and enhanced employee experience
Case: Under Armour, an American organization dealing with manufacture of sports and casual apparel and footwear, is a global company. With more than 130 global outlets and 8500 employees, their ATS system received more than 30,000 resumes in a month. Thus, hiring was a cumbersome process for them as well as candidates applying for a job.
Solution: They engaged a digital recruitment system called Hirevue. With Hirevue, managers could create interviews with candidates with the help of pre-recorded questions. This screening process helped managers call in only employees who met their requirements for webcam or mobile recorded interviews.
Result: Managers could now hire new employees much more quickly. There was a 35% reduction in time in the overall interview to hiring process. The talent quality also improved.
These above case studies show the emerging trend of incorporating analytics in the HR function of business management. This can also be seen to have positive results in the recruitment and retention processes. Thus, it can be safely said that more companies will implement people analytics and data analytics software in their HR processes in 2019.