| Pub. Date | : Jan, 2020 |
|---|---|
| Product Name | : The IUP Journal of Knowledge Management |
| Product Type | : Article |
| Product Code | : IJKM110120 |
| Author Name | : Farha Deeba |
| Availability | : YES |
| Subject/Domain | : Management |
| Download Format | : PDF Format |
| No. of Pages | : 17 |
The human resources domain is witnessing a transformative period with the inclusion of data analytics in the management of manpower. It offers numerous advantages, particularly in acquisition and retention of key talent in an organization. However, it is not without its share of challenges which are restricting companies, particularly in India, from harnessing its full potential in talent management. The current study examines the advantages of strategic management of the talent acquisition and retention processes, while employing data analytics to ensure better organizational performances in India. It further presents the challenges in the usage of data analytics, with the development of strategy and approaches for better implementation of the talent techniques in SMEs in general. It thus sheds light on the current adoption level of the technique in India and examines its reach. The paper aims to address the gap in literature on the importance of data analytics in SMEs of India.
Due to the emerging markets, the business environment in the next 10-20 years will be challenging because of lack of talented employees. The most important asset for any organization in the 21st century, whether business or non-business, will be talented employees. Acquiring and retaining talented employees is a very challenging job. Talent acquisition ought to become easier with the evolvement of technologies, advent of digital media and increasing use of social networking sites for professional use. However, the increase in technology and networking has also given applicants various ways to forge their academic and work instances, making it hard for recruiters to understand which applicant is suited for the job being offered. Also, the vast number of applicants for a limited number of seats has led recruiters to just swiftly go through the resumes, interviews and test scores, making choosing a difficult process. The process of evaluation is not being fully used as the parameters for evaluation have not been set properly. In this case, data analytics can play a major role as it is a statistical method for determining the processes of human resource department and applying measures to recruit the best possible candidates. Apart from talent acquisition, the HR department also needs to retain employees and forecast employee demand to keep their employee positions filled in the company; it also needs to provide training for the development of the recruited candidates. Thus, talent management is in need of data analysis. Data analytics has emerged in the recent times as a mathematical study of numbers in talent management arena, aimed at providing the understanding on how to manage human capital, and also at evaluating HR efforts in increasing workforce productivity through training, development and decreasing employee turnover.