The earth is made up of infinite tiny particles, similarly, the technology world is made of infinite data. The moment data gets involved; analytics follows. Every area has its connected data attached. But what not many organizations are unaware of, is that the HR department is one of the most analytics intensive and data-affluent areas in the corporate field.
HR analytics known as talent analytics, workforce analytics, or people analytics, deals with analyzing the office problems and day to day situations. It is essential the companies understand what makes their employees engaged, happy, and satisfied with their jobs. If the employee is satisfied, it will directly increase the employees’ loyalty and productivity towards the company.
As HR becomes more data-driven, there is a need to find the correct people analytics tools to be applied in the organization. This can be done by using good HRMS software.
Below are the top 5 areas where HR can apply innovative people analytics:
Recruitment
Analyzing the candidates or talents for the company is one of the key areas where HR analytics should be applied. The HR department needs to peruse and identify the ideal channels where they can find the perfect candidate for their organization. By using HRMS they can find out what is the corporate history of the employee if there is any.
They can know about their goals and aspirations, compare whether it aligns with that of their organization. Thus, after analyzing these things during recruitment, helps the HR in making an informed decision and choose the best candidate.
Successful recruitment helps in retaining the employee, thus creating a low turnover, which the second basic area where HR analytics should be applied.
Turnover
This is probably the rifest and basic area where the HR department should apply their analytics. By applying analytics in recruitment, half of the work of HR is already done. Hiring candidates, training them, and finally onboarding them into the company, needs resources. This makes it essential for the managers to identify their turnover rate and compare it with their competitors.
Understanding the importance of low turnover helps HR view the future of the organization and its needs. Managers can use HRMS to look at the candidate’s previous data, how committed they have been to the previous company, and select them accordingly.
Training
Many organizations have started organizing the onboarding process before the employee’s joining. During onboarding and training, the importance of HRMS software comes into play and lets the company know which candidate is skilled in which field.
Training analytics can also provide a plain-sailing journey to enhance productivity beforehand by providing the employees with the opportunity to rehearse and train in what they are best at. Taking feedback from employees during training can also be helpful.
By their feedback, the managers can decide which employees are ideal for which department or field.
Performance
HR analytics play a key role in determining the performance of the employees. Every organization needs dedicated employees who are giving their best to help the company grow. Through good HRMS software, the managers can identify which employee is giving a top-notch performance, and which employees need to up their game a little.
They can provide regular feedback to let the employees know in which area they are lacking, and work on skills development accordingly. Good HRMS software also lets the company know which task has been assigned to which employee.
This helps in keeping a tab on which employee is completing the task on time and which are delaying them.
Also Read: 4 HR Analytics Terms Everyone Is Talking About
Retention
Most organizations end up losing their most skilled and talented employees not because of bad organization, but because of bad managers. Though, it’s not always fair to blame the bosses or managers. Many times, employees leave due to no job satisfaction. Not all employees engage and participate in the company.
Through retention analysis, the HR department can know the employee engagement of the company. They can make efforts to improvise the job satisfaction of employees who are not engaging. Keeping the employees’ needs in mind can ensure they stay committed to the company for the long haul.
As the world is changing, many companies are adopting new ways to ensure that their employee feels safe and comfortable in their organization. Using people analytics can be beneficial for HR managers.
Listening to the concerns and needs of employees is also a must. If the employees end up having a negative impact on the company, it can hamper the company’s credibility and raise trust issues for future candidates as well. Thus, from onboarding to turnover, every process should be handled with extreme care and thought.
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