Application of Big Data Analytics to Drive Next-Gen Human Resource Management
NEW YORK - Feb 24, 2014
Infor, a leading provider of business application software serving more than 70,000 customers, today announced significant investment in the emerging area of talent science, the application of big data analytics to the practice of HR. Following its recent acquisition of PeopleAnswers, Infor announced it will increase development headcount for its Infor PeopleAnswers Talent Science product by approximately 40 percent, with major enhancements and integrations to be delivered in 2014.
"The massive amounts of data available today present a great opportunity for companies that are able to proactively harness and leverage that data to create a competitive advantage," said Duncan Angove, president of Infor. "Talent science will change the practice of HR, enabling companies to leapfrog others by applying Big Data analytics to their most important asset - their human capital."
Infor PeopleAnswers Talent Science transforms the role of HR, enabling the traditionally "soft" practice to contribute more measurably and strategically to top and bottom-line results across multiple sectors of the economy, including financial services, healthcare, hospitality, manufacturing, professional services, and retail. Infor's cloud-based application uses Big Data to assess the personality and behavioral traits of top performers to help them identify external candidates, as well as individuals within the organization, who share those traits, using analytical rigor that helps organizations better identify, hire, promote, align, coach, review, deploy, and reward talent.
How Infor PeopleAnswers Talent Science Works Infor PeopleAnswers Talent Science uses science, technology, and analytics to predictively link behavioral data to real business outcomes, helping companies improve business performance by consistently hiring, developing, and retaining top performers. The software, using patented methodology, identifies key attributes that are most predictive of success in a specific business and connects current top performers' traits with the most important and strategic key performance indicators (KPIs).
Current employees are asked to complete an online assessment in order for the organization to benchmark the desired behavioral traits of specific positions. The assessment reveals each employee's Behavioral DNA - the measurement of 39 behavioral, cognitive, and cultural traits - that is analyzed against job related performance data that has been collected separately. The behavioral and performance data are combined to generate a Performance Profile for a specific position, providing a consistent structure and a common language for evaluating people. These Performance Profiles can be used to select new hires, coach current employees, and identify best-fit opportunities for succession.
Once a robust Performance Profile has been created and validated, prospective candidates are asked to take the pre-employment assessment. Comprehensive candidate reports are immediately available once a job candidate completes the online assessment, and the software compares the candidate's Behavioral DNA against a position's Performance Profile, explaining how the candidate differs from the Performance Profile. This allows hiring managers to get a full view of a candidate before the first interview, which results in better employee selection and helps reduce employee turnover.
The assessment results generate reports including four recommendation levels to assist HR managers in the employee selection process. Each level is indicative of how well the candidate's assessment score matches established parameters related to the open position's Performance Profile. Every candidate report contains extensive backup documentation explaining exactly why a certain score was earned. The software automatically creates intelligent guides customized for each candidate that cover best-fit scores, career path planning, interview questions, onboarding, coaching, and feedback, allowing hiring managers to consider any potential disconnects.
Infor is fundamentally changing the way information is published and consumed in the enterprise, helping 70,000 customers in more than 200 countries and territories improve operations, drive growth, and quickly adapt to changes in business demands. Infor offers deep industry-specific applications and suites, engineered for speed, and with an innovative user experience design that is simple, transparent, and elegant. Infor provides flexible deployment options that give customers a choice to run their businesses in the cloud, on-premises, or both. To learn more about Infor, please visit www.infor.com.
Infor customers include:
19 of the top 20 aerospace companies
12 of the top 13 high tech companies
10 of the top 10 pharmaceutical companies
21 of the 25 largest US health delivery networks
16 of the 20 largest US cities
84 of the top 100 automotive suppliers
31 of the top 50 industrial distributors
5 of the top 9 brewers
This announcement reflects the direction Infor may take with regard to the specific product(s) described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this document or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product or functionality, even if such is described in this announcement and even if such description is accompanied by words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "predict," "should," "will," and/or similar expressions. Many factors can affect Infor's product development plans and the nature, content and timing of future product releases, all of which remain in the sole discretion of Infor. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement.