LinkedIn’s recent report, “The Rise of Analytics in HR: An era of Talent Intelligence” shows that in India, 14 percent of total jobs in HR are analytics based which has further led to the rise of HR analytics professionals in India. In the past five years, there has been a 77 percent increase in specialized analytics professionals in HR in India. These professionals are known to fill various specialized job titles such as ‘Data Scientist’, ‘Talent Analytics Director’ and ‘Diversity Analytics Specialist’.
“AI and automation, skills-gap, and the rise of independent workers are changing the global workforce today and transforming the way companies hire, develop and retain talent. Candidates are no longer active or passive, they are always-on and open to different opportunities. In answer to this change, recruiters are relying on real-time, actionable and on-demand insights. Combining insights with the right instincts delivers a winning talent strategy,” says Irfan Abdulla, Director – LinkedIn Talent Solutions and Learning Solutions, India and South Asia.
The top three industries to adopt talent analytics in India are Financial Services & Insurance, Technology-Software, and Professional Services.
In fact, Financial Services leads the pack as the top industry to adopt talent analytics in seven countries in Asia-Pacific, including Australia, India, Indonesia, Singapore, Hong Kong, New Zealand, and Taiwan. However, priority areas where talent analytics is leveraged in different countries vary as per the different business realities in each market. For example, in India and China where people change jobs often, talent acquisition is a high priority. However, in Southeast Asia and Australia where attrition is lower, the focus is on talent development and workforce planning, respectively.
As per the report, HR leaders in India are currently prioritizing the use of analytics in three areas, Compensation & Benefits, Talent Acquisition, Productivity & Performance.
With the growing need and demand for high-performing talent, HR leaders now turn to analytics to answer critical questions about workforce planning, skills gap, employee retention, and more. Talent Analytics through data-driven decision-making is enabling HR practitioners to add more value to the business. Analytics is helping HR and organizations in finding the answers to critical questions such as where to find talent with certain skills, where to set up the next office, or even how to build a gender-diverse workforce.