In the last Talent Trends 2021 report, elaborated by Randstad Sourceright, talent analytics was identified as the technology in which HR leaders are investing the most. Six of each 10 out respondents are motivated by this tool. COVID-19 Pandemic has been key for driving this trend.
What is talent analytics?
According to Randstad, talent analytics is a methodology and a technological deployment to improve decision-making, a step beyond the classic psychological evaluations to know the performance of people in their jobs. It is about focusing efforts on collecting, processing, and analyzing data strategically. Get to know your workforce and your candidates better, their strengths and areas for improvement, detect threats and opportunities and be able to design and adapt each step.
According to the Talent Trends 2021 report, and in the words of John Bersin, HR analyst, with a solid data analysis strategy, organizations achieve a greater vision of what is happening in the labor market and their teams, and this provides a solid foundation on which to guide the most critical decisions.
Other Key Trends in Talent
The employment landscape has changed significantly in the last year, and most companies have had to adapt and modify their roadmap. In the latest Talent Trends 2021 report, prepared by Randstad Sourceright, the HR Think Thank analyzed what the new human resource management will look like as we move towards the post-Covid era, and these are the main trends that will mark 2021:
1.- Competences to create value
The trend that more companies are focusing on is developing an HR strategy more focused on talent competencies than on the work to be carried out. That is, in the sum of the skills, knowledge, aptitudes, and attitude of the talent. Companies tend to prioritize savings over value, however, in the long term, it is proven that by prioritizing the quality of human capital, organizations emerge more competitive and agile.
2.- Flexibility
Over the past year, the ability to operate in an agile and flexible manner has been a key factor in the survival of many companies. An example of this has been those that were able to send their employees to work from their homes, and thanks to that they have not had to decrease their activity at any time.
In an environment of total uncertainty like the current one, flexibility is more necessary than ever. According to the Talent Trends report, many companies, such as Cisco or Microsoft, have found that, through remote work, they have achieved greater productivity than in the previous year.
3.- Health and well-being
One of the main and most urgent challenges faced in the last year has been health and well-being, and of course, it has also been a priority issue in the workplace.
Although companies have had to adapt to new ways of working, this concern must remain a priority for the leaders of the organizations.
Effectively managing the safety and emotional needs of workers will not only attract and retain talent, but will also guarantee benefits, by having a healthier and, therefore, productive workforce.
4.- Digital transformation
The adoption of innovative tools and ways of working has resulted in many companies having remarkable productivity gains. This has been possible in part thanks to the acceleration of digital transformation.
Technology plays a very important role in our lives, so much so that it has allowed millions of people to continue developing their work or serving their customers remotely despite the pandemic. Many businesses have been able to reinvent themselves thanks to digitization, and a great example of this is digital commerce, which, as a consequence, has made the logistics sector improve its figures compared to 2019.
5.- Data and decision making
Analyzing the data, both those that revolve around the workforce that the company has, and those of the labor market itself, is a practice that, although it has always been a necessity, has been increased with the arrival of the pandemic.
Thanks to the digital transformation, there has been an exponential growth in the ability to generate, store and interpret data, which is useful when it comes to managing the talent and needs of the company at all times, especially when taking emergency decisions in certain unexpected situations.
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