Find out Why There is a Growing Demand for HR Analytics
Do you think you know how to
improve the performance of your workforce? Or do you know? How can you get the
best from your people? Who are your best performers? How do investments in workforce
training improve your employee performance? How can you inspire, motivate and empower
your employees to excel?
Many successful business organizations
are increasingly embracing state-of-the-art methods for evaluating workforce
data to improve their competitive advantage. Google, Accenture, Best Buy,
Microsoft, Sysco and many others are beginning to understand exactly how to optimize
their workforce performance and ensure the highest engagement, productivity, and
retention of top talent. If you want the best performance from your top employees,
who are probably your biggest assets and your largest expense as well, you need
to start using HR analytics, also known as talent analytics rather than your
gut instinct.
So what exactly is HR Analytics?
Human Resource analytics, sometimes known as Workforce
Analytics or People Analytics, is the modern application of sophisticated business
analytics and data mining techniques to HR data. In layman’s language, it is a
tool used to find out the what, why, when, how and where of HR functions like performance
measurement, employee engagement, recruitment, training, and retention.
Benefits of HR
Analytics
If you’ve ever worked in an HR
department, probably you know that most of the data that is required for analysis
is already available within the organization. Data regarding employee age, prior
experience, demographics, academic history, performance ratings, trainings
undertaken, and many such data points are already present within the HR
department. This internal data is clubbed with relevant external data sources
to get clear insight. Here comes the role of HR analytics. It plays a vital
role in putting all this data together, combining it with external data and
helping HR leaders and managers ask important questions so that they can take
better decisions for their organization.
Here are some important questions which HR Analytics helps find answers
to:
- · Skill-gaps in the organization and how to fill those
- · How to improve productivity of a team?
- · Why is the top talent leaving the organization at a higher rate than others?
- · Figure out the reason behind a high turnover in a certain team
- · Predict and manage attrition rate
- · Predict the right people to hire for a specific role
- · Does the performance rating system truly reflect employee performance?
If you’ve decided to use HR
analytics in your organization, it is recommended you train your HR leaders and
managers in an HR analyticscertification course so that they can make the most of HR analytics tools.
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