The success of a business depends on its people. Human resource managers or human resource specialist (HR) ensure that the manpower of an organization has proper skills to achieve organizational objectives. This is only achievable through HR analytics in collaboration with data-driven HR. Data-driven HR management enhances the quality of human resource-related decisions.
Through different analytics, HR evaluates the information that can be used to enhance organizational success.
HR Analytics Tools
Some examples of HR analytics tools include R, Python, Excel and Power BI, of which R is commonly used. R is efficiency for statistical analysis of data states that require visualization. On the other hand, python includes advance editors and interactive console that ensure visualizations of the data set.
In most cases HR use both of these tools to acquire sufficient information to evaluate organizational requirements as per the application of data-driven HR. Excel is a basic analytical tool, through this tool HR manually extract information from HR systems for implementing data-driven HR. furthermore in the case of HR analytics, power BI ensures simplified aggregation, analysis, and visualization of human resource-related data sets. This analytical tool is useful to connect with multiple data systems such as Twitter feed, SQL database, and people data.
HR Analytics
HR analytics is a process through which various data sources are combined and used to enhance organizational productivity. For ensuring efficiency talent management and motivation in the workforce various HR analytics are used such as capability analytics and churn analytics of employees. Apart from that competency, capacity, organizational culture, recruitment, performance and leadership analytics are considered by HR to enhance productivity.
Through this analytics, HR conducts a predictive analysis of the factors that influence workforce performance. Analytics and metrics of the recruitment channel help to identify the presence of organizational factors that are responsible to attract skilled candidates and retention of skilled employees. Through leadership analytics, HR identifies the faults and strengths in leadership style that can influence workforce motivation and performance.
Information from HR analytics is measured through various metrics that are cost for recruitment, the time required for recruitment, turnover rates of employees and absenteeism rate of employees. Apart from that employee participation cost for training, diversity in the workforce and revenue achieved per employee are used as metrics to evaluate information related to talent management and organizational productivity. These metrics are used as KPI for evaluating HR strategy.
Based on the metrics strategies considered by HR in an organization is enhanced and modified to ensure the right flow of work through ensuring successful leadership and motivation.
Finally in a nutshell organizational success is based on the skills present in employees. It also depends on the presence of proper guidance and motivation in the working environment to help employees to achieve their respective goals.
Recruitment of employees is the prime responsibility of HR which ensures the presence of the right skills in an organization. Through predictive analysis, HR identifies future threat and success of an organization. Based on the potential challenges HR plans recruitment and employee training to nullify the impact of potential threats. Information gathered through predictive analysis is also used to improve employee satisfaction by modifying the working environment and employee management strategy.
