Companies today generate huge amounts of data. And that volume is only going to increase as companies digitize more processes and strive to understand their candidates, employees and customers better, and the number of touchpoints and interaction channels increase. Not to mention changes in the way people work like flexible hours, remote working and gig work, which lead to more digitized processes and more data.
Good data will give you a number of benefits, including effective talent acquisition, and more personalized talent management that gives better talent experiences. It also enables better talent planning, including the ability to adapt quickly to market changes, which can give you an advantage over your competitors.
On the flip side, bad data will hinder the effectiveness of your team, hide what’s really going on, and leave you ill-equipped to react when you need to. In the short term, this leads to damaged departmental reputation and potential exclusion from strategic discussions.
In the long-term though, huge amounts of dollars are lost due to bad planning which can impact the business for years, and targets are missed due to data-blind talent management and talent acquisition. When working blind, you also have major risks of non-compliance and not meeting your diversity objectives. After all, you can’t fix what you can’t measure and you can’t measure what you can’t see.
In this document, we’ll delve into these areas in more detail, look at some of the warning signs and causes of bad data, and what you can do to ensure quality data you can rely on.