Many companies are beginning to use their data to find useful insights into their business, but are HR departments making the most of what’s at their disposal? That’s one question asked by recruiting experts Hays in the latest edition of the Hays Journal.
HR teams have a huge amount of data available to them, according to Hays. Drawing insights from this data can help to drive positive business change through better understanding of its own workforce. For instance, data can determine what drives employee performance, when an employee is about to resign and how HR contributes to an organisation’s objectives.
“The 2000’s witnessed a digital revolution and companies began learning more about their customers,” says Tom Osborne, Regional Director of Hays in Malaysia. “It was predicted at the time that this would also be big news for HR, but the journey has only just begun for most HR departments. The possibilities and opportunities that data can provide is quite exciting. For instance, being able to recognise when a valued member of staff is thinking about leaving is an extremely valuable tool for businesses.”
The reason HR departments are yet to fully utilise the data available to them could be the result of ever changing technology. The speed at which it changes means by the time a system is functional, it could already be out of date. Also, the number of tools and vast amount of data can seem daunting, leaving many businesses asking themselves where to begin.
“It’s important to start small before deciding which direction to head in and which areas you wish to learn about first,” adds Tom. “Technology does advance so quickly that implementing a large system and connecting all departments may not be worthwhile. Instead find out the basics first by using the data you already have available and begin to explore from there.”
Over the past year Hays too has begun exploring advanced machine learning to manage its data. David Pardoe, Group Head of Data Science, says: “Data has been collected about many aspects of our business and Hays has developed algorithms and models to process this data, helping identify key development opportunities. The expectation is that this will be of value to both Hays and our clients.”
For more insights please see the see latest Hays Journal.
Hays is located in Kuala Lumpur at Suite 4 & 5, Level 23, Menara 3, Petronas, Kuala Lumpur City Centre.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
- Ends -
For further information please contact Genevieve Ho, Marketing Executive - South East Asia at Hays on Genevieve.Ho@hays.com.sg
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2016 the Group employed 9,214 staff operating from 252 offices in 33 countries across 20 specialisms. For the year ended 30 June 2016:
– the Group reported net fees of £810.3 million and operating profit (pre-exceptional items) of £181 million;
– the Group placed around 67,000 candidates into permanent jobs and around 220,000 people into temporary assignments;
– 22% of Group net fees were generated in Asia Pacific, 45% in Continental Europe & RoW (CERoW) and 33% in the United Kingdom & Ireland;
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA