This article is contributed by Smriti Pandalai (Batch 2015-17).Smriti is a part of the JEdi ( Junior Editor) team for 2015-16.
Today, we live in the era of BIG DATA being the most talked about concept in the corporate world. The Pune chapter of the National Human Resource Development Network (NHRDN) organized a workshop on HR Analytics at Symbiosis Institute of Management Studies, Khadki on 11th September 2015.The day long workshop comprised of various sessions conducted by keynote speakers across sectors who delved deep into this hidden goldmine of information.
Mr.Girish Palshikar, leading the Machine Learning R&D Group at TCS spoke of domain driven data mining techniques that take advantage of domain knowledge and thus deliver novel, actionable insights to improve workforce management, understand and deconstruct responses to employee satisfaction surveys, create attrition models and address performance related issues. Analytics are critical to HR operations and workforce effectiveness and this was discussed in elaborate detail by MR. Anand and Mr. Sudhir Rao from IBM. Attrition analytics has helped IBM save 100 million dollars and suggest recommendations after identifying job families where the risk of attrition is moderate to high. The speakers also elaborated on their solution – Talent Insights which is based on Watson analytics that understands HR constructs thereby painting a story that helps you think ahead and address challenges in the areas of recruitment, workforce management and the likes.
The role of research powered by statistical methods and tools is integral to effectively using data to arrive at constructive implementation in the HR function. These principles were highlighted by Mr. Chandramouli Srinivisan, the Vice President of Feedback Business Consulting. He spoke of the need to articulate the specific hypothesis with as much clarity as possible in addition to highlighting the relevance of T tests, cluster analysis and factor analysis in the field of HR analytics. Today despite a plethora of statistical tools available, the challenge lies in terms of the quality of data and thus the manner in which this data is interpreted. Mr R.Pazhanikumar, Associate Director, KPMG, spoke of incorporating people, process and technology within the troika of strategy, vision and values that must be in sync. Further, he elaborated on the 5 level People Capability Maturity Model which is an integrated approach to HR Management. His session was interspersed with anecdotes and real world examples that correlated business data with people data with an emphasis on competency linked to various HR disciplines.
In the present business environment, it is essential to benchmark and see where things are going and where there lies a scope for improvement. In this context, Ms. Supriya Thankappan, Principal Consultant at Cerebrus Consultants, spoke of the Analytics Maturity Model and the various steps involved in the Analytics Process including exploring data, defining the business needs and thus predicting what is likely to happen which facilitates making the decision and measuring the outcome. This was the last session of the day though it witnessed enthusiastic participation of the audience in the case study analysis resulting in a very engaging discussion.
The day long workshop saw wide ranging discussions across the spectrum of the fascinating field of HR Analytics from a multitude of perspectives. Without a doubt, the audience comprising of eminent HR professionals and MBA students gained a lot of valuable of insights in the dynamic realm of Human Resources.