Top Reasons To Set Up HR Analytics
Enabling HR managers to improve their operations and decision-making with data
Posted on 05-24-2021, Read Time: Min
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HR analytics enables HR managers to improve their operations and decision-making with data. HR analytics enables HR personnel to run advanced analytics to enable:
Improved HR Performance
1. Improved hiring: Running machine learning algorithms on the existing workforce allows companies to identify which traits lead to success. However, this may also formalize existing biases in the company. Therefore, HR managers should question machine learning outputs and make sure that irrational past biases based on attributes like gender or race do not get incorporated into the decision-making. Once managers know who will be the right fit for the company they can shape their brand building, outreach and candidate engagement efforts accordingly.
2. Improved retention: Running machine learning algorithms on churn data can uncover churn patterns and predict employees who are likely to churn. This can enable HR to manage churn proactively. Such insights can also help improve onboarding, training and performance management systems if they cause issues that can trigger churn.
3. Objective performance management: The dreaded mid-year reviews end up being subjective and demotivating. Granular performance data can be used for objective, frequent and automatic feedback which can support face-to-face reviews backed by data.
Improved Understanding of the Company and Its Progress
4. Better understanding of productivity and motivation: Uncovering what drives motivation and productivity can help shape HR strategy, including training, performance management and other HR policies. For example, if the productivity of remote workers can be analyzed, then the company’s policy of remote working can be fine-tuned.5. Better understanding of company culture: Sentiment and network analysis of anonymized communication between employees can help HR managers understand company morale and culture in detail. Since this requires analysis of confidential and personal data, care needs to be taken to ensure anonymity.
6. Accurate record of progress: By tracking key HR data over time, companies can compare themselves in different time periods and observe changes.
If your company is not working with an HR analytics solution provider already, this is a good area to investigate.
This article was originally published here.
Author Bio
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Cem Dilmegani founded AIMultiple in 2017. Throughout his career, he served as a tech consultant, tech buyer and tech entrepreneur. He advised enterprises on their technology decisions at McKinsey & Company and Altman Solon for more than a decade. During his secondment, he led the technology strategy of a regional telco while reporting to the CEO. He has also led commercial growth of AI companies that reached from 0 to 7 figure revenues within months. Cem regularly speaks at international conferences on artificial intelligence and machine learning. Visit https://aimultiple.com/ Connect Cem Dilmegani |
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