The food you eat; the clothes you buy; the games you play; the vacations you take—data analytics has already been tracking your everyday activity to give marketing teams an edge. Now, these number-crunching, algorith-running pieces of artificial intelligence are all set to have a bigger say in your work life too. More and more companies, especially in the IT and FMCG space, are adopting these tools in their HR practices and processes to manage their large workforce.
Ajoyendra Mukherjee, EVP & Global Head - HR, TCS says: "Using big data and analytics, for example, spotting talent by looking at social media these are things we are experimenting with at this point."
Ravi Shankar, EVP & Chief People Officer, Mindtree says: "20-30% of data we use is going thru predictive analysis, which is the real HR analytics, where we use models in the place of attrition management, compensation management, turnover prediction etc"
But this also means that hiring patterns are also set for a drastic change. IT firms, for instance, are increasingly opening up to hiring non-engineers for engineering positions and in some cases, that's meant that recruitment of engineers for such roles has fallen by 20 percent.
Manish Sabharwal, Co-Founder & Chairman, Teamlease says: "All this is coming from their HR analytical tools that's telling them that productivity outcomes at six months, one year, 2 years are not different and a non engineering is much more grateful and hungry than an engineering to have a job at Infosys or Wipro. Or wherever else."
This new method of deciding on recruitment comes as a life-saver for many corporate houses, especially those which have had to wrestle with uncertainty in their long-term project management decisions due to escalating wage bills and unpredictable attrition levels. Many also hope that incorporating such business intelligence tools will give them a much-needed edge in better workforce management, which could mean a faster turnaround, economically speaking.
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