Talent Analytics from a Strategic Perspective

Abstract

This paper attempts to establish the alignment between strategic plans of the organization to the manpower planning specifically focused to sourcing, recruiting and also aspects pertaining to attrition. The concept of Talent Analytics has been analyzed, emphasizing on the methodologies and initiatives which need to be incorporated for the purpose of managing and selecting a workforce. It sheds light on the facet of HR analytics & Big data for structured and un-structured data and how its usage clubbed with the talent analytic processes can be a boon for the dynamic nature of business and how it provides a base for the success of tomorrow. It further discusses about usage of modern tools like balanced scorecard and industry benchmarking to derive correlations to the process of recruitment and selection, which has been objectively viewed as the inception point of the man power. It also discusses the key challenges, shortcomings and possible recommendations based on research that can help the organization enter a domain of evidence based strategic talent management mode .Careful consideration has also been laid upon the return of investment and cost-benefit factors which will directly affect both the top-line & bottom-line businesses.