BrazilOpus Talent Analytics: Helping HR make better people decisions
Launched three years ago, Opus Talent Analytics is an analytics platform that helps HR leaders and teams make better people-related strategic and operational decisions. Company founder Somaya El Sherbini outlines why talent analytics is a growing field of interest for any HR professional, and how Opus Talent Analytics adds value.
There are extraordinary solutions hiding in plain sight. Every performance review, payroll stub, and employee survey is thick with powerful data. Increasingly, companies are using AI-backed technology to turn these mundane data points into highly profitable insights, in order to build stronger companies and more satisfied employees.
Companies that ignore this trend – known as HR data analytics – risk doing so at their own peril.
The world’s leading companies have known this for a while. Credit Suisse famously devised an algorithm to predict who would quit in order to retain top talent. Companies such as Xerox, Southwest Airlines, and Proctor & Gamble all use employee feedback to devise career development programs, reducing costly turnover. In each case, key insights came from the company’s own records.
Smart use of data is no longer a luxury. Today, it’s a mark of companies that can read the future. The nature of work is rapidly changing – artificial intelligence, automation, and remote work have forged a “future of work” with vastly different expectations and norms. Employees now demand more meaning, flexibility and personal development from their employers – otherwise, they quit. New tools are needed to retain talent.
About 60% of business spending goes to payroll. Hiring and skilling are the two largest cost buckets. There’s sound business logic to this: if employees are not kept skilled and happy, customers take notice. Sales go down. And when employees quit, it puts a hole in the balance sheet: firms fritter away months of salary just headhunting and onboarding new recruits. Poor retention can swing a profit to a loss.
The future of work has set off a global war for talent. As technology rapidly improves, jobs are becoming more complex. Unfortunately, the skills required to do them aren’t keeping up. Top consultancy firms, like McKinsey & Company and others, have identified an inevitable and costly skill gap headed for the workforce. As a result, companies are stepping up training and capacity-building budgets.
HR data analytics
These dual challenges – retention and upskilling – have put HR data analytics at the center of corporate strategy. Leaps in technology have elevated HR from a cost center to a driver of business performance. It’s no surprise then that companies are investing more than ever in HR technology.
According to one estimate, from Fortune Business Insights, HR tech spending will surge to reach $35 billion in 2028, up from $24 billion in 2021.
Opus Talent Analytics
Opus Talent Analytics (developed by the team behind award-winning HR consultancy RightFoot) offers a particularly powerful toolset. Its predictive analytics leverages data to tell a company who and when to re-skill. It spots untapped talents in the workforce, and it motivates employees to up their skills by recognizing their improvement. It simplifies job matching and creates a workplace conducive to creativity, growth and collaboration.
The AI-powered technology and unique, built-in libraries make Opus Talent Analytics incredibly easy to turn the dense fog of data into streamlined, high-impact decisions.
Opus’ suite of products are ideal for companies of all sizes. Small businesses can start their data journey with the SaaS product. Middle and large-size enterprises will benefit immensely from talent intelligence, skills insights and organizational KPI capabilities.
At RightFoot, we believe that better people drive better businesses. In the future of work, people data analytics are essential for both.
