A Quick Overview of HR Analytics
Are you doing an MBA in human resources (HR)? Do you find the field of HR interesting? Want to know the ins and outs, and other scientific elements of this domain? If so, a career in human resources analytics could be the right choice for you.
Broadly defined, human resources analytics is a smaller field within the broader field of data analytics. It involves the application of data analytics process within an HR department with the aim of improving employee productivity and performance. When this analytics process is actualized in an HR department, businesses get benefitted by attaining a higher ROI (return on investment).
While many reduce the field of HR analytics to the gathering and monitoring of data regarding workforce efficacy, however its scope is much broader than just this. Specifically, HR analytics involves providing meaningful insights to optimize business operations.
What HR Analytics is and What Exactly it Does
HR analytics is really the application of an integrated methodology and process for optimizing the quality of employee-related decisions in order to improve both individual and organizational performance. Although human resources analytics relies on data analysis and statistical tools, its most advanced form involves much more than that.
HR analytics comprises of both descriptive and predictive components. Descriptive components include workforce demographics, time to hire, headcount, and company’s turnover. Predictive components include searching for those knobs that could be turned to boost business results.
Core Functions
Although the ecosphere of HR analytics covers a large array of activities, there are mainly four core functions that manifest within this realm. Those core functions are development, optimization, acquisition, and paying of workforce within an organization or business. In order to optimize each of these core functions, HR analytics associates need to work with decision makers or managers by gaining insights regarding the issues and problems that pertain specifically to their workforce.
Careers in Human Resources Analytics
By going through HR analytics training, you can work in the field of human resources analytics as an HR analyst. Listed below will be your job roles and responsibilities:
• Collect and analyze data
• Perform research, conduct studies, and prepare reports
• Recommend, review, and interpret policies
• Ensure compliance with established rules, regulations and policies of the organization
• Monitor and track developments in specific functional areas
• Participate in working committees, councils, and groups
Those who are interested in pursuing the field of human resources analytics should need to know that it plays a pivotal role today in facilitating the smooth functioning of HR processes.
Broadly defined, human resources analytics is a smaller field within the broader field of data analytics. It involves the application of data analytics process within an HR department with the aim of improving employee productivity and performance. When this analytics process is actualized in an HR department, businesses get benefitted by attaining a higher ROI (return on investment).
While many reduce the field of HR analytics to the gathering and monitoring of data regarding workforce efficacy, however its scope is much broader than just this. Specifically, HR analytics involves providing meaningful insights to optimize business operations.
What HR Analytics is and What Exactly it Does
HR analytics is really the application of an integrated methodology and process for optimizing the quality of employee-related decisions in order to improve both individual and organizational performance. Although human resources analytics relies on data analysis and statistical tools, its most advanced form involves much more than that.
HR analytics comprises of both descriptive and predictive components. Descriptive components include workforce demographics, time to hire, headcount, and company’s turnover. Predictive components include searching for those knobs that could be turned to boost business results.
Core Functions
Although the ecosphere of HR analytics covers a large array of activities, there are mainly four core functions that manifest within this realm. Those core functions are development, optimization, acquisition, and paying of workforce within an organization or business. In order to optimize each of these core functions, HR analytics associates need to work with decision makers or managers by gaining insights regarding the issues and problems that pertain specifically to their workforce.
Careers in Human Resources Analytics
By going through HR analytics training, you can work in the field of human resources analytics as an HR analyst. Listed below will be your job roles and responsibilities:
• Collect and analyze data
• Perform research, conduct studies, and prepare reports
• Recommend, review, and interpret policies
• Ensure compliance with established rules, regulations and policies of the organization
• Monitor and track developments in specific functional areas
• Participate in working committees, councils, and groups
Those who are interested in pursuing the field of human resources analytics should need to know that it plays a pivotal role today in facilitating the smooth functioning of HR processes.
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