The Future Talent Shortage Will Force Global Companies to Use HR Analytics to Help Manage and Predict Future Human Capital Needs

Abstract

During the recent recession the number of jobs lost has been widely publicized. However, lurking among this obvious and simple metric of how human capital is involved in the workforce, there is the need to analyze and predict future talent. As economic conditions are slow to improve, decisions to simply cut the traditional costs, benefits, compensation and headcount are no longer enough. Companies have already started using business intelligence (BI) to transform and maximize the potential of their human capital. The use of human capital based business intelligence (BI) has increasingly become one of the vital strategic components for world-class companies. This paper will focus on why companies should use analytics (a subset of Business Intelligence (BI)) to transform and maximize the potential of their human capital.