Data-Driven Decision Making: HR Analytics

If you had a chance to look into the future to know well before all the problems that you will encounter, won’t you prepare better and come up with perfect results when the time comes? Today we cannot see into the future but with analytics, we can predict future outcomes with accuracy. Analysing current data with meaningful measures gives you the insightful edge to make better decisions for the growth and success of your company. Managing a workforce is a primitive task, but the execution of the same is just not enough. To become successful and keep steady growth in this competitive environment, HR professionals need to go beyond their daily tasks. Human resource analytics or People Analytics is an up and coming feature that makes management easier and has a plethora of opportunities to have a stronger grip on your workforce. Tom Penque, lecturer for the Master of Science in Human Resources Management program at North-eastern University says, “Human resources analytics falls within the realm of digital HR…As HR technologies and platforms evolve, there is more information [available for us to] capture electronically. HR analytics is about the different ways that we capture, measure, and organize that information to create valuable insights for an organization.” Analytics include assessing the current database in various aspects and discovering new solutions as well as organising the current data into an efficient format for future reference. How does analytics help human resources? Here are some pointers; 1. Adapt Your current workforce is full of diverse potential. If you can analyse their strengths and weaknesses you can channel them in the right direction. Know your team and their traits completely so that you can engage them in roles that will be more fruitful for the company. Amongst your workforce is different skill sets and personalities. Decipher data via capability analysis to set up benchmarks for employees. Analytics gives you the chance to focus on the individuality of your team. 2. Inculcate New hires in a bustling workforce can be hard to adjust to. However, with prior analysis of their capabilities and potential, it is easier to give them the task and track their performance. It is tougher to change the whole pattern of your workforce to include new employees. Instead with analytics, you can save time that would have been consumed going through their previous experience details manually. All that work can be automated through analytics and help you hire only the best candidates who will be efficient and a good fit for the company. 3. Track The workload can sometimes be overwhelming which can make it hard to keep track of previous endeavours and current projects. However, with HR software with a detailed analytics feature, you can take care of your workload by tracking it without any hassle. Moreover, with timely analysis of your workforce, you can analyse for future risks and scopes of improvements as well. In the long run, analysing your yearly progress will disclose your evolution as a workforce and how improvements over a long period affect your overall growth. 4. Data-driven Data analytics gives you the chance to look into the future, figuratively speaking. Based on your current methodology and previous observations, it strengthens your organization by making the right decisions. Looking into your employees’ behaviours and deciphering who needs more attention to flourish and who can contribute more with additional responsibilities. By analysing data daily, you can resolve issues before they even arise. Detailed statistics and regular reports can save time in understanding problems related to your workforce. Take action faster and minimise the risks of communication gap and resolve queries amongst your employees.