"Predictive Analytics Helps HR Forecast Trends & Issues"
As technology continues to transform how we work, play, and transact business, the semiconductor industry continues to innovate and provide the foundations of these advancements. What we do represents the pinnacle of human ingenuity and possibly the most intricate and complex value chains known to mankind. The people behind these innovations come from multiple engineering disciplines and from every corner of the globe. HR functions need to adopt a global outlook and need to be on the forefront of what it takes to attract, train and retain a truly worldclass workforce.
Amidst a challenging business environment in 2023, the HR function adapted to drive value and provide stronger cultural moorings for the organisation.
Use of Technology in the HR Function
Technology led processes ensured employees were able to interact and transact with ease with minimal disruption to the core work. Transitioning to mobile based applications helped reach a geographically dispersed workforce and will continue into the next few years.
Data-driven Decision Making
Data driven approaches to harness insights and efficiencies came of age during the last few years and will continue to drive key decisions in real time. Some organisations are using predictive analytics to forecast trends and identify potential HR issues. Technology is also assisting in strategic planning by providing insights into current and future workforce needs based on data analysis.
Diversity and Inclusion
As the technology landscape evolves, companies need a workforce that is adaptable and capable of addressing complex challenges. A diverse and inclusive workforce is better equipped to navigate change and contribute to future advancements. HR teams worked towards creating diverse and inclusive workplaces by implementing initiatives that address gender and ethnic diversity imbalances in the tech sector. HR teams also ensured that hiring processes are inclusive and free from bias, promoting equal opportunities for candidates from diverse backgrounds.
As we move forward, technology will play a crucial role in the HR function so that organisations can create an environment that nurtures creativity, encourages experimentation, and ultimately builds a sustainable culture of innovation in the tech sector.
