What do emerging technology trends such as big data mean for the future of HR and talent development? New research has revealed the answer.
Developing technology trends such as cloud computing, big data and the Internet of Things are evolving beyond buzzwords into tangible solutions for businesses.
In particular, big data analytics is providing businesses throughout Australia and around the world with new methods of analysing the important parts of their operating procedures. Employee, customer and product trends can be tracked and analysed to a greater degree.
While many businesses are currently using these techniques to analyse how products are performing in the marketplace, a new study has revealed how they can be used to track employee performance ensuring staff get the support they need to develop.
The study was produced by the University of North Carolina (UNC) Kenan-Flagler business school, and believes these big data trends have the potential to revolutionise the way HR departments treat their talent.
According to the study, businesses need to take a number of steps to ensure they are integrating big data trends with HR developments effectively.
The first step, the university believes, is to align these processes with current business goals and corporate strategy. This should prompt businesses to ask a number of questions about the current state of their HR processes. Identify what has been successful and what isn’t finding favour with employees and adjust your practices accordingly.
It’s also essential to define your metrics for success. After all, there’s little point in setting up these strategies if there’s no way to tell how successful they are.
These developments made it into Deloitte’s list of the 2015 Human Capital Trends, with the firm believing that HR has the potential to be reinvented in light of emerging technology trends.
Deloitte says these plans are already in motion, with businesses around the globe already reacting to demands for further innovation.
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