So what exactly is Data Science? Is it some kind of rocket science or rather is it something that can really help you out as an HR? In this case, the best solution will be learning more about this science. So without further ado, let’s get down to business cause today in this article, I will pen down all the information about Data Science that you need to know as an HR. Now, let’s think about it for a moment; for a layman, data science can be really tough to understand. But what if we actually understand the concept and be able to use Data Science to deal with employees on a daily basis. So let’s just go with the basics.
Defining Data Science
Well technically, Data Science is understood as the study of decoding and analyzing data by using some machine-learning software and statistical tools and turning them into graphical and pictorial representations based on which companies can take many important decisions regarding the overall welfare of the company. So it’s just like you hired someone who is working on all the data related to your potential candidates, talent pool and current employees and giving you some figurative facts so that you can have a clear image of everything related to your field. Whether it be about recruiting people, creating proper talent pool, deciding on a budget for talent acquisition and training, analyzing the cost of every employee, trying to increase the employee retention rate, calculating appraisals and incentives, and more, data science can help you manage all these things by providing you with proper pie charts and tables. No wonder how we reached moons and stars; Data Science of course! But don’t worry. Moon and stars! we ain’t aiming for that. We are aiming at understanding this science and how it helps us in excelling in our field.
Expectations from Data Science
Now, to be honest, Data Science is vast as you can understand. Therefore, I will only focus on those aspects of data science that will be useful for you.
Analyzing Candidate Profiles:
By collecting, organizing, and analyzing the digital imprints of the candidate-related data, the data scientist can provide the HR with the detailed data of the candidate. With the help of AI technology, recruiting in bulk becomes easier as the data from all the resumes can be processed and thus, helps in the screening process as well. So you will be handed with only the genuine and qualified candidate’s resumes before the interview process begins.
Planning for Future Investments:
With the help of displayable facts, you can invest in many areas such as investing in talent acquisition, investing in training sessions of interns and other employees and also finding an estimate of the cost of every employee. It means that using data science you can see facts and manage your budget like a pro.
Monitoring the Workforce:
You can literally track your employees and understand their progress in your company. This can be achieved by analyzing employee surveys, attendance records, and employee database. Data Science can also help you in deciding employee’s promotion, appraisals, and incentives. This will further help you in retaining employees as you can track them before they start looking for new jobs. The science will let you manage employee benefits packages and provide the retainable employees with benefits even before they can file in for resignation. This is similar to providing solutions even before the problem surfaces.
So after all this discussion, let’s think about what should be the ideal result of using data science. You will notice an improved hiring process, increased employee retention rate, task automation, improvement in employee experience, and also improvement in the production workforce. The stress of the recruitment process will be quite less, your employees will be satisfied working for you, you can even understand how much each employee is contributing to the success of your company and how much appreciation they deserve for their work. So basically if you are using data science properly, you will definitely see visible growth in your company and get your due credit from your employer as well.
The Challenges of Data Science
Like any other science, Data Science has its own sets of challenges that can be easily taken care of by a Data Scientist.
First and foremost, data quality can vary and you cannot always expect the best quality data.
Secondly, data cleansing is a massive process. It is really stressful selecting what data you should keep and what you can delete, in order to create ample space for more data.
Thirdly, it needs proper knowledge of data science to understand the relevancy of each given data. You cannot waste much time in deciding which data is relevant and which is not because you will be dealing with petabytes of data.
Fourthly, there are legal data issues and recently, data privacy has gained considerable awareness. So you need to be very careful about the privacy of every data.
Last but not least, data science tools can be difficult to use at times. Proper handling of these tools is essential.
I would advise you to either learn HR Analytics or if you have enough resources and less time, hire a Data Scientist. You know you need this science to compete with other companies and your employer and employees deserve the best of you. It is as Dalai Lama said, “In order to carry a positive action we must develop here a positive vision.”
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