HR people say predictive analytics work, they just don't have them
The predictive analytics firm OutMatch recently surveyed HR professionals about the value of using predictive analytics in hiring employees and then helping them do better work. The company found that individuals charged with hiring and development at companies think predictive data can be extremely helpful. The problem is that few of them have access to such data.
Just 35 percent reported using data and analytics to hire and 44 percent reported using such tools to build employee development plans.
Of 176 human resource professionals surveyed nationally, 95 percent said predictive analytics would help them identify job applicants most likely to succeed in their work, while 91 percent of those same individuals said their companies saw human resources as vital to overall business success.
"Since hiring and employee development are critical factors in business success, companies that seize the opportunity to inject data into the process will reap the benefits of increased productivity, satisfied customers and higher revenue," OutMatch President and CEO Greg Moran said in the release.
The survey included responses from 30 different industries, with more than half of those companies employing 1,000 people or more. Of the companies surveyed that did invest in data-driven HR technology:
- 46 percentuse it to improve employee selection.
- 17 percent use it to stem turnover.
Employee is a persistent problem in the restaurant industry, but in this cross-industry survey, it appears to be a huge problem across sectors. Nearly 60 percent of companies polled reported an average employee turnover rate of up to 20 percent, with another quarter put turnover at up to 50 percent.