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Deep Learning Transformed the People Analytics Market 2020

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Snippet: The top tool that comes to our mind when we speak of human resource management is People Analytics. A large number of IT professionals and analysts are joining Deep Learning certification course to learn about People Analytics and related data science specializations.

 

If you closely observe how HR leaders in the top companies work, you would realize they are working with best IT analyst and digital transformation managers. The rise of People Analytics is one of the results from staying laser focused on digital transformation approach built on the foundations of Big Data and Deep Learning techniques.

People drive businesses; talent provides the revenue. It’s often said that the there is no limited way to measure human performance at workplace, and therefore, we have long witnessed the challenges in HR management. In the last 2-3 years, the rise of AI ML and Deep Learning projects created new opportunities for HR Management. Therefore, we have an increased demand for a new age tools and platforms specifically designed to mange this shifting paradigm. The COVID-19 work from home regulations, co-working space, and other remote location workplaces have ensured that People Analytics applications stay relevant to our business operations.

 

Let’s examine how new techniques in Deep Learning influence adoption of People Analytics in the current context.

 

What is People Analytics?

People Analytics is defined as the scientific application of Big Data intelligence, AI ML and automation techniques directly applied to humans at workplace and how they aspire to showcase their skills and talent as individuals, teams, groups and as organization. Since each worker has a different reaction to the same problem, the people analytics platform measures the average methodology comparing trends with the standardized best practices. People analytics can be applied to roles, functions, departmental operations and organizational culture.

 

Why Deep Learning in People Analytics?

HR department is often blamed for its age old practices and rigidity toward adoption of technology. We have witnessed that HCM tools and dashboards hardly made any difference to the HR department’s performance, and the salaries of HR Managers are here to speak for themselves. Abysmally low, compared to the same line functions from Marketing, Sales, and Support that have 1.5-2x higher salaries for the same level of experiences or even lower!

But things are changing, thanks to the coming of age of analyst-driven HR departments. HR leaders are more comfortable and more confident than their predecessors when it comes to using AI ML, automation and Deep Learning for their various roles and functions.

 

Here are some of the key areas where Deep Learning is directly applied to People Analytics –

 

Employee Hiring

Recruitment and on boarding are key People management operations that have found their groove with AI ML functions. For example, a large number of HR teams in leading organizations use deep learning platforms to skim through thousands of applications and bio data to shortlist candidates for interview rounds. The hiring and recruitment managers don’t leave it to human perception to shortlist the best candidate from the bio data pool. In fact, the scoring system is very much an auto-run program that allows the employee hiring team make a sound and verifiable decision during the various interview rounds.

 

PAYROLL Management

Many organizations are now using People Analytics platform to integrate with financial / accounting data to decide the viability of the business in case more employees are to be hired during the recession or lockdown phase.

Salaries and Compensations

Based on the performance of individual, a historical data is mentioned that staff managers discuss with the employee at the time of appraisals. The compensations is fixed and bonuses and appraisals factor vary depending on how many leaves the employee has availed, the number of days he / she did over time, and so on…

Team Building

Currently Big Data and Deep Learning applications are used to identify the various factors that lead to employee attrition, loss of competitive edge, and brain drain from the organization. New studies have revealed that employee experience is a key building block for organization development. And, small and medium sized business need professionals with deep learning certification to drive their People Analytics campaigns. Therefore, more and more HR leaders are leveraging People Analytics tools to plan organization development processes and overhaul the traditional practices as part of digital transformation.

If you are pursuing a Big Data Science course in India, you have ample opportunities to train with People Analytics engine.

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