Good morning everyone , I will be giving a presentation on the topic - NEXT SLIDE

Let us first start by defining what talent acquisition is-

So talent acquisition can be defined as the process of identifying, attracting,

selecting, and retaining highly qualified individuals.It is aimed at attracting
employees and selecting the ones that fit with the organization and job. If this is
done well, there is a fit, leading to lower attrition, higher productivity, and
increased engagement.

The talent acquisition (TA) environment is becoming increasingly complex and

competitive . Data-driven approaches can deliver insights critical for improving
operational and business outcomes. Whether it’s better awareness of candidate fit,
process and technology optimization, or increased understanding of talent
acquisitions impact on the business, analytics is a powerful force in the quest to
source and hire top talent.

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HR analytics, also referred to as people analytics, workforce analytics, or talent

analytics, involves gathering together, analyzing, and reporting HR data. It
enables your organization to measure the impact of a range of HR metrics on overall
business performance and make decisions based on data. In other words, HR analytics
is a data-driven approach toward Human Resources Management.

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Descriptive analytics is the process of parsing historical data to better
understand the changes that have occurred in a business.
Using a range of historic data to obtain a holistic view of performance and trends
on which to base business strategy. Wrt to HR dept and particluarly in TA,
descriptive analytics provides a view into activity, such as requisition volume,
applicant or talent pool size, source of hires, etc. It reveals the levels of
activity and efficiency in candidate generation, and is a simple expression of
volume, time, cost, or source.

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Predictive analytics is a type of data analytics that uses data to find patterns
and then uses those models to attempt to predict the future. Predictive analytics
can’t tell you what will happen, but it shows what is likely to happen based on
past trends. It’s as close as employers can get to predicting the future. The
ability to make these predictions helps shorten the entire recruiting process while
making stronger hires. In a competitive talent market, this allows employers to
identify the top talent for a particular role and make an offer to the best
candidates faster than the competition. For employers, this results in improvements
in time-to-hire and quality-of-hire, and a better candidiate experience, leaving a
positive impression that will factor into their decision to accept an offer.
Predictive analytics in recruitment is growing rapidly in the realm of HR these
days, and has garnered a lot of attention

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Prescriptive analytics make predictions and answer questions related to “what to

do” and why some action will take place. While predictive and prescriptive
analytics sound alike, prescriptive analytics is the more advanced. Predictive
analytics uses data to find patterns and then uses that information to make
forecasts,prescriptive solutions answer problems. companies should ask “What can we
do to make ____ happen” – prescriptive analytics helps answer that question.
Prescriptive analytics could help predict learning paths for employees, helping to
extend their tenure at an organization.

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Benefits -

1. Predict candidate success

Organizations can use analytics to predict a job applicant’s future performance.
Using people analytics, companies can pinpoint what a successful employee looks
like and develop a candidate persona that matches.

2. Target job candidates

Predictive HR analytics can help recruiters quickly identify the right types
candidates, find them, and connect with them. Once you’ve targeted the specific
skills and characteristics you are looking for in a candidate, you can use data to
figure out where that group is .

3. Eliminate bias
Data doesn’t care about the age, gender, or race of an applicant. People, on the
other hand, are flawed. Oftentimes, hiring managers may have biases they aren’t
even aware of that are getting in the way of making the right hiring decision.
Analytics helps in eliminating this bias and helps in making the decision based on
cold, hard facts and data.

4. Tailor employee benefits

You can entice top candidates to join your team by matching benefits to their
individual values, personality, and behaviors. For example, a job candidate with an
introverted personality that thrives in quiet environments may appreciate the
chance to work from home once a week. Not only will this appeal to the candidate
and potentially make the difference in whether or not they accept a position at
your company, but it will also help maximize their potential as an employee and
improve employee satisfaction.

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1. Bringing Together Data From Many Different Places

A big data initiative requires HR to acquire data from all the different
departments within the business. They have to acquire, sanitize, unify, and analyse
data from multiple departments as well as from multiple business functions,
including payroll and finance.

They need people who have the skills to gather and prepare data for analysis in
addition to performing analysis.

2. Lack of Data Analytics Skills Within HR

3. Insufficient IT Resources for HR Data Analytics

Data analysis is resource-intensive for IT, and many smaller companies simply don’t
have the infrastructure for Hadoop and other analytics programs. Hence this might
be difficult for companies that lack time and infrastructure

4. Worries About Privacy and Compliance

When HR collects data on a candidate, particularly data from outside the company,
the department has to consider privacy. Collecting sensitive information, such as
personal health information or information about sexual orientation, can put HR in
murky territory related to protected characteristics.