Welcome Address: The Impact of Big Data on HR Mr. Rakesh Goswami Executive Vice President - TSTT

Transcription

1 Welcme Address: The Impact f Big Data n HR Mr. Rakesh Gswami Executive Vice President - TSTT Nv. 14 th, 2017

2 Big Data Big data is a term that describes the large vlume f data bth structured and unstructured that inundates a business n a day-t-day basis. But it s nt the amunt f data that s imprtant. It s what rganizatins d with the data that matters. Big data can be analyzed fr insights that lead t better decisins and strategic business mves. SAS, USA

3 BIG DATA

4 Data is used t make better Decisins Raw facts, bservatins, r perceptins Data Data that have been prcessed s as t have cntext, relevance, and purpse Infrmatin Justified beliefs and relatinships relevant t the decisin Knwledge Decisins $ Analyze Interpret Apply

5 Big Data Leading cmpanies have invested heavily in Big Data capabilities Ability t capitalize n Big Data has becme a cmpetitive advantage

6 What are the Trends

7 Organizatinal Trends The way we grw ur businesses is changing rapidly Mainly due t changes in rapid changes in business mdels and required skills Successful rganizatins are nw the nes mst capable f innvatins frm utside Inrganic Grwth Leveraging staff n Demand Cllabrating with Partners

8 Trends Expnential technlgies are defined by rapidly increasing capabilities and declining cst The technlgies are changing the requirements fr jbs New pprtunities fr nimble wrkers and agile cmpanies Expnential Technlgies Cst (averages) fr equivalent functinality Scale 3D printing $40,000 (2007) t $100 (2014) 400x in 7 years Industrial rbts $500,000 (2008) t $22,000 (2013) 23x in 5 years Drnes $100,000 (2007) t $700 (2013) 142x in 6 years Slar $30 per kwh (1984) t $0.16 per KWh (2014) 200x in 20 years Sensrs (3D LIDAR sensr) $20,000 (2009) t $79 (2014) 250x in 5 years Bitech (DNA sequencing f ne whle human DNA prfile) $10 millin (2007) t $1,000 (2014) 10,000x in 7 years Neurtech (BCI devices) $4,000 (2006) t $90 (2011) 44x in 5 years

9 Why is Big Data imprtant t HR

10 Big Data is imprtant t HR New skills and jbs are nw required s that cmpanies can capitalise n all the data at their dispsal Data Scientist: The Sexiest Jb f the 21st Century HBR Big Data has als transfrmed the Human Resurce functin in rganizatins and prvided a number f psitive use cases in: HR Management Apprx. 58% f HR staff time is spent n administrative tasks Additinal 20% f time spent n activities related t reprting and cmpliance. HR Administratin sftware is designed t streamline and autmate the three traditinal pillars f HRM: payrll time and attendance benefits management

11 Big Data is imprtant t HR Talent Management Talent management systems (TMS) prvide a central lcatin and database fr recruitment, emplyee develpment, and retentin effrts. 83 % f CEOs list talent management as their number ne pririty Businesses are nw replacing dated systems and paper resumes fr scial media recruiting, nline assessments, and real time analytics. Learning Management Systems Learning Management Systems (LMS) track an emplyee s educatin, qualificatins, and skills, then utline materials r curses available t develp thse skills. Any department lking t centralize administratin, cnslidate training initiatives, and custmize learning r training cntent culd benefit frm this type f prgram.

12 Rakesh Gswami EVP Strategic Alliance, Enterprise & Tbag Operatins ; rgswam@tstt.c.tt