Tips for Utilizing Big Data in Manpower Development

Link-Pro CPA was honoured to be invited to join the Presentation Ceremony of the “ERB Manpower Developer Award Scheme” and was awarded the title of “Manpower Developer” by the Employees Retraining Board (ERB) on 4 May 2018.

Our company puts strong emphasis on the significance of manpower development. For instance, Xero Certification is always a mandatory component of our core induction programme and all staff are also encouraged to attend regular training sessions such as ‘HR Tech Clinic’ organized by Talenox on 10 May 2018 to acquire knowledge of setting up payroll and leave processes, major employment issues and obtaining insurance for users.

When it comes to cloud accounting, some people may concern about its potential threat on the accounting profession, fearing that artificial intelligence such as machine learning automation will eventually replace the role of accountants. Nonetheless, the adoption of cloud accounting technology will never replace or eliminate accountants. Instead, it brings more convenience and most importantly, reduces cost and time spent on manual tasks substantially. Furthermore, being connected to real-time financial data at anytime and from anywhere allows accountants to check and confirm automatically created accounting entries, offer timely financial expertise and ultimately, establish real value to their clients.

Apart from utilizing cloud accounting, human capital is always one of the greatest assets of a company. As millennials are going to make up the majority of the workplace in the near future, building a millennial-friendly work environment is essential to attract our future leaders. Nowadays, new hire orientation and employee engagement are surely hot business topics. Unlike in the past, conventional on-the-job trainings may no longer work for millennials, since they are enthusiastic about technology and prefer working in an innovative environment.

Additionally, it is of paramount importance to note that big data can be used to improve not only customer experience, but also manpower training and development. We truly believe that learning in the workplace should never be limited to seminars in the office, and continuous training is always necessary to keep up to date with the latest trends.

Big data analytics is one of the most prominent business trends driving the success of every business in this digital era. Big data-driven employee training such as customizing learning materials based on individual strengths and weaknesses can definitely bring about a myriad of benefits to both businesses and employees.

For businesses, gaining data-driven insights undeniably enhances employee engagement, in turn boosting workplace productivity. That is because when a company tracks performance-related data and establishes a dedicated development program that caters for the unique needs of employees, it demonstrates the company’s commitment to their professional growth and makes them feel valued and respected at work. This helps foster their sense of belonging to the company and keep them engaged in their work.

For employees, they can also have a comprehensive understanding of their character traits as analysis of performance data is conducted objectively and accurately with the help of artificial intelligence. Therefore, incorporating big data analytics into human capital development is without a doubt a win-win strategy that makes a business stand out from its competitors.

“Big data analytics is one of the most prominent business trends driving the success of every business in this digital era.”