What is HR analytics?
Human Resource (HR) analytics constitutes the part of data analytics that directly relates to information about candidates and employees at a company, i.e., its workforce. It helps management to make informed decisions about their employees, workforce development, changes in talent management and corporate culture, etc. With the help of HR analytics, specialists can link talent decisions to business development as a whole, so it is extremely important in the context of not only improving the employee life cycle, but also increasing the level of a company’s effectiveness.
HR analytics helps you to understand the big picture of team performance and offers specific examples of how you can deepen your understanding of various HR issues. It can help, for example, to identify the cause of a sharp increase in staff turnover, or find out in which roles employees burn out faster.
It is impossible to run a company at a high professional level without HR analytics.
The most significant impact of analytics on business processes is the fostering of a professional approach to staff-related problems. Here are the other key benefits:
HR analytics provide a clear structure for each employee's talents and potential.
If there are "blockers" in the team that hinder the organic development of staff they are much easier to identify.
Indicator dynamics help to ensure that problems can be solved by the employer, by providing them with everything necessary for the full life journey of an employee.
If a problem is beyond the employer's control HR analytics can help resolve them, minimizing the risks of stress and burnout for employees.
Finally, HR analytics influences the formation of a structured management and workforce development strategy, which in turn influences business strategy.
With specialized HRM systems, analytics and reporting can be calculated automatically without unnecessary time wastage. Moreover, most of the ratios and calculations in such systems are performed in real-time. If you urgently need the latest HR data all you have to do is log into the system and download the required info in charts.
PeopleForce has over 40 detailed reports that are displayed on handy dashboards and are customizable to the company's specific needs. If you are interested in how to implement and optimize HR analytics with minimal costs, please contact our managers and book a demo presentation today.