Data has become one of the main assets of businesses, no matter what their size. The reason is its usefulness for the objective analysis of scenarios and strategic decision making , in areas as varied as Finance, Logistics and Human Resources .

In the case of personnel management, data is essential to improve; for example, the processes of identification and recruitment of talent. Also, to measure productivity through data such as the level of absenteeism, arrivals after hours or turnover rates in critical areas, where, for example, there is a lot of investment in training and training.

Let’s see in more detail what are the advantages of data storage and management for the Human Resources area.

#1. Improve talent attraction and retention processes

For those responsible for Human Resources , data is essential, since it allows them to analyze market trends, what are the salaries paid, what benefits the competition offers, etc. With this information, they make more focused searches on the talent they want to attract, with better offers and through the appropriate channels and media , to obtain more optimal results in the selection processes.

#2. Allows you to update the company’s salary and compensation policies

Another advantage of data analysis (in the case of large companies with vast volumes of information) is that it allows you to compare the salaries or other benefits that the company offers against those of the competition in similar roles. In order to apply adjustments to the salary policy based, for example, on performance, compliance with work schedules , the level of absenteeism, etc. Of course, to obtain this data it is essential to have tools such as a comprehensive payroll platform , which allows processing real and objective information on the current staff of employees.

#3. Facilitates the detection of wage gaps

In relation to the above, with the payroll platforms, reports can be generated that allow comparing, for example, the salaries of employees with 10 years of seniority, the same level of responsibility and different genders. In order to discover, for example, that women receive salaries that are 30% lower. Therefore, the storage and management of data favors the development of fairer salary and compensation policies.

#4. Drive development and training plans

Using the data, consultancies can generate reports on the new talent needs of companies and different sectors of the industry (for example, digital skills or soft skills). And on the side of the companies, create talent maps to know where the strengths of the business are and what needs to be improved.

#5. Allows detecting red dots in processes and assigning roles

Finally, the generation of reports and the analysis of large volumes of data allows those responsible for Human Resources to analyze processes, organization charts, roles and results . With the information obtained, they can detect problems and opportunities for improvement to implement the necessary adjustments to optimize the overall performance of the team.