The human capital in your company plays an incredibly important role in the growth of your business. Human capital simply refers to the employees working in your company. With the passage of time, human capital predictive analytics has grown in terms of importance. As more and more companies rely on business intelligence and data to make important decisions, a number of different tools have been introduced to determine how businesses are revolutionizing the game.
Profiling Employees
Predictive analytics increases the amount of data available on different employees, including background experiences, so predictive analytics can be used to profile employees and figure out how they are likely to perform. Companies are able to better understand which demographics are suitable for which roles, and they can make adjustments and changes to their recruitment strategy as well.
Balancing Employee Attrition
Employee attrition is a major benchmark that companies use to determine whether employees are loyal to the business or not. Human capital predictive analytics play an increasingly important role in this regard, helping companies figure out when their turnover is high, and then determine risks that are increasing the attrition rate.
It can also be used to forecast requirements and then determine capacity in the business. As your company grows, you will need to bring on more employees, so it’s important that you use predictive analytics to identify shortfalls and plug them before you end up with a major issue on your hands. To know more please contact LPA.
