The paramount objective of HR Analytics is to provide an organization with appropriate insights for effectively managing employees so that business goals can be reached swiftly and efficiently.
In today's volatile business environment, differentiation can be achieved only through Human greater complexity as most businesses operate on the supply chain model. Therefore, organizations are required to be not only concerned with the implications this brings forth with respect to the inherent human capital, but, also those of the supply chain partners viz. raw material and components vendors, business associates, logistics vendors, technology services vendors… an almost endless list!
For an effective and an efficient role enactment, HR needs to equip itself with tools and resources that enable it to get better insights into the behavioural patterns, opportunities and challenges. Again, the proposition is no longer confined to the four walls of an organization.
What is HR analytics?
HR analytics is the application of mathematical, statistical and data mining techniques to Human Resources and business data to explore concepts and ideas and solve or respond to HR-related business problems. HR analytics facilitates better and more importantly quicker decision making by providing an organization with insights about the workforce, and, the HR policies and practices that support them.
In short, with the aid of analytics, HR practitioners are enabled to take more informed decisions. Analytics may be used to look at the workforce quality, in particular its human capital the value of individual education, knowledge, skills and the experience of individuals and teams; virtually anything and everything that is expected to contribute towards a happy, healthy society along with economic development through a productive workforce.
Why is HR analytics important?
Denne historien er fra October 2016-utgaven av Human Capital.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2016-utgaven av Human Capital.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
