ZingHR-Microsoft-Whitepaper-2016
- 1. Tomorrow’s Technology to Transform HR Today Beat your talent acquisition and retention challenges with ZingHR and Microsoft Azure’s Machine Learning, Cognitive, Analytics and Social Listening capabilities ZingHR A Cnergyis Company
- 2. 2 ZingHR A Cnergyis Company Executive summary...........................................................................03 Chapter 1: Key challenges for HR����������������������������������������������������������������������04 Chapter 2: Limitless possibilities������������������������������������������������������������������������10 Conclusion�������������������������������������������������������������������������������������������12 Contents
- 3. 3 ZingHR A Cnergyis Company Talent acquisition and retention have been top challenges of enterprises in India for several decades now. In the modern, digital era, the war for talent is only going to intensify. Today’s working class has vastly different ambitions and far greater opportunities than earlier generations. While technology, capital, assets and size of companies make a huge difference, the ‘people’ aspect has emerged as the most crucial one, deciding the future competitiveness of any company. In the search for the perfect candidate, most corporate HR departments struggle to deal with an avalanche of data, and find it challenging to match a job seeker’s CV with the job description. To resolve all such issues related to talent acquisition and management, leading firms are turning to machine learning and analytics driven systems. These tools can help accurately predict and manage every aspect of HR processes such as talent acquisition, attrition, performance management and future planning. This whitepaper looks at how the Machine Learning, Cognitive, Analytics and Social capabilities of Zing HR powered by Microsoft Azure, can help organizations to significantly improve the entire process of hiring, rewarding and retaining employees. Executive summary
- 4. 4 ZingHR A Cnergyis Company Key challenges for HR The digital era has created new business models across organizations - both large and small. Challenging the tough VUCA environment, they are exploring new, disruptive methods of doing business and transforming business practices. Given the changing business paradigms, even in case of HR, firms can no longer rely on traditional practices to hire and retain top talent. The HR function struggles to deal with the huge volume of data that is typically generated whenever the requisition of filling up of a new role is advertised. Finding hidden nuggets of valuable information that is buried in thousands of résumés is not an easy job. HR executives have to not only match the right candidates with the right profiles but also ensure that employee-engagement is high. Traditional recruitment and talent acquisition tools place too much emphasis on keyword search, often resulting in poor matches. On the other hand, manual sorting is difficult to accomplish due to tight deadlines and very large volumes of résumés—and not enough people to glean through every detail. As most résumés are collected on the basis of certain keywords being matched, HR departments struggle to decide the right profiles for the specific job function. Chapter 1
- 5. 5 ZingHR A Cnergyis Company Once a person is hired, the HR department has to look at factors such as reducing attrition and predicting resource utilization ratios. At the same time, training programs have to be planned effectively so that the right employees are selected for training and potential leaders are identified and suitably groomed for future leadership roles. ZingHR, driven by a future-led approach, leverages the top-notch capabilities of Predictive Analytics, Artificial Intelligence (AI), and Machine Learning powered by Microsoft Azure to address all these challenges 60 50 40 30 20 10 0 ‘Ready’ for people analytics With excellent operational reporting Correlating business performance to HR data That are “Good” or “Excellent-at workforce planning Predicting workforce performance with data n 2015 n 2016 Source: Bersin by Deloitte Research Growth in people analytics market Chapter 1: Key challenges for HR
- 6. 6 ZingHR A Cnergyis Company faced by HR executives. For example, the solution can help HR executives to improve the efficiency of a hiring process by introducing speed and intelligence to a an otherwise mundane task of sifting through thousands of résumés. Hiring The corporate HR executives can avail advantage of the natural language processing capabilities of ZingHR to rank potential candidates. The solution matches available skill sets and experience levels with actual job requirements. It leverages Microsoft Azure’s machine learning features—the system keeps on learning from data—as against the traditional approaches of static, predefined rules-based programming. As more inputs are fed into the system, either via user feedback or testing by company officials, ZingHR provides deeper insights, delivering more relevant and accurate results. ZingHR can save huge amount of time needed for sorting the clutter of résumés against thousands of job descriptions through its automated candidate-ranking and rating system. The solution helps an organization to avoid traditional biases by challenging common assumptions. For example, the solution may reveal that although a company gives preference to hiring from top B-schools, its consistent performers are actually from other institutes. In another hypothetical case, the solution may reveal that within the top performers, attrition rate is lower amongst employees hailing from a particular type of cities—tier 1, or tier 2 or tier 3, thus enabling better decision making for the long term. Structured data is the standard output of relational databases, including HR information systems (HRIS), accounting systems and enterprise resource planning systems. Unstructured data covers an array of free-form information, including narrative answers on engagement surveys, social media posts, blogs, wikis, e-mails, and even images and videos. Chapter 1: Key challenges for HR
- 7. 7 ZingHR A Cnergyis Company In today’s age of social media, ZingHR’s Social Listening capabilities powered by Microsoft Azure, offer/provide immense value. The solution scans through multiple popular social media platforms such as LinkedIn to dig out useful details about a potential candidate’s background and her/ his social standing. For example, it can help HR executives with insights derived from a candidate’s social conversations and activities—tweets, QAs posted on Quora, LinkedIn blog or Facebook posts, for instance. This largely unstructured data provides the true picture about a prospect’s background- -something that is of tremendous importance when filling up senior positions. Talent management ZingHR can help in predicting the outcome of intended HR initiatives. This includes identifying certain skill sets within the organization that may be of value to current or future potential business areas. The analytical capabilities of the Azure-powered solution can help HR executives to spot the gaps in training plans by comparing them with market needs. The solution can thus assist HR executives to align their training programs with the organization’s business goals and market reality. ZingHR analyzes a vast range of data including market data, demographic data, or the data about performance, training, and compensation to identify potential causes of attrition before it becomes a serious issue. Candidates, once hired, can be evaluated for future leadership roles. Building upon Azure’s data analytics features, ZingHR can identify employees with high-potential and offer them (or create for them) new, promising roles. In corporate circles it is often said that ‘people leave managers, not companies’. ZingHR can spot high-potential employees working under low-performing or unfriendly managers. With such insights, HR executives Chapter 1: Key challenges for HR
- 8. 8 ZingHR A Cnergyis Company can engage with high-potential employees well in time and retain them successfully. ZingHR helps organizations to identify specific incremental learning programs that existing employees may have to undertake for successful redeployment of manpower. For example, there may be an internal candidate who just needs to learn one additional programming language to fulfill the organization’s resource requirements for a major project. ZingHR can proactively find such possibilities that can yield high gains with minimal, incremental effort. The result: a win-win situation for both, the employee (skills upgradation) as well as the organization. Lastly, the solution’s predictive analytics engine can help organizations to plan their hiring strategies better by forecasting manpower needs realistically. The solution does this by analyzing predicted attrition rates and growth of a particular business segment with speed and agility. Chapter 1: Key challenges for HR
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- 10. 10 ZingHR A Cnergyis Company With every aspect of information about people captured in the cloud, HR professionals have the opportunity to be more productive. Opportunities galore The possibilities of using data-driven analytics of ZingHR, built with Microsoft Azure, are huge for employee-centric organizations. In future, with the continued adoption of wearables in the workplace, ZingHR can help HR professionals to identify key HR-related factors that can improve productivity. With ZingHR, an organization can expand the scope of its candidate evaluation and hiring processes by going beyond the traditional practices. For example, if there is a job posting for open source programmers, ZingHR and Azure’s machine learning algorithms can quickly evaluate the code for its efficiency, and even look at online forums such as Stack Overflow, for understanding how a particular candidate has answered questions or resolved queries. Get high returns on your critical assets With ZingHR’s Artificial Intelligence, Machine Learning, and predictive analytics features, powered by Microsoft Azure, corporate HR departments can accrue three most crucial benefits: Accurately shortlist 20-25 résumés from a batch of over 5,000, based on customized criteria including job role, successful profile, culture and longevity scorecard. ZingHR crunches a wide variety of factors to arrive at a candidate rating in a substantially short time. Correctly spot high-potential people who are more likely to succeed in their jobs than others. Organizations can task ZingHR even to identify the people Limitless possibilities Chapter 2
- 11. 11 ZingHR A Cnergyis Company Chapter 2: Limitless possibilities that are likely to quit soon. Such insights can help HR executives take timely remedial actions and retain valuable talent. Predict future roles with ease. With ZingHR, built with Microsoft Azure, organizations can dig deeper into vast reserves of private and publicly available data, such as LinkedIn and employment sites, to analyze the skills in short supply and the kind of designations that employees are looking forward to, as part of their career progression. Armed with this knowledge, busy HR executives can not only customize their training programs, but also create new career paths for their high-potential employees. This can boost employee satisfaction and lead to higher probability levels and reduction in attrition.
- 12. 12 ZingHR A Cnergyis Company This is not just about the future. Busy HR executives today can employ solutions like ZingHR to run innovative employee-engagement programs. For instance, candidates can be invited to play challenging games and ZingHR can show how prospective employees fare on various counts such as strategy, execution and ability to adapt to unforeseen circumstances. As ZingHR’s Azure-based system ingests more and more data—fed in from multiple sources including user feedback, résumés, company feedback, knowledge portals, and social sites, it can become more intelligent and accurate. Eventually, ZingHR and Microsoft Azure can help solve most of the issues related to HR processes, allowing HR executives to focus on more productive work. Conclusion