People data everywhere: Bringing the outside inPosted in : HR Updates ROI on 27 January 2016
Leading organisations routinely use both internal and external data to build their brand, find new customers, manage risk, and make investment decisions. What if HR could leverage data just as effectively? That time has come.
This article explores the increasing trend of HR and talent organisations’ use of social data and analytics to strengthen and expand their capabilities. Social media tools such as LinkedIn, Facebook and Twitter are commonly utilised by recruiters to identify and acquire candidates, as the data available from these sources is often more comprehensive than what exists on traditional HR systems. Start-ups are focusing on analysing social media data to predict patters of external job-seeking behaviour, in order to allow organisations to be aware of their talent retention risks.
Alongside this, millions of people continue to stream data about their location, health and well-being through tools such as FitBit, which further adds to their pool of personal data that already exists online. Organisations can use this information to glean key insights into how employees’ well-being and activities impact their productivity and professional performance.
While social data and analytics can be a useful tool, some confusion exists with regards to the question of who actually owns externally sourced information. Thus, in an environment where transparency is more significant than ever, it is imperative organisations exercise vigilance about privacy, security, and confidentiality training.
Nonetheless, organisations should effectively utilise the increasing availability of people data, and the use of external data should become an integral part of an organisation’s HR analytics strategy.
To read Deloitte's full article 'Global Human Capital Trends - People data everywhere: Bringing the outside in', click here.This article is correct at 27/01/2016
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