How can HR Analytics Boost Talent Management?
One of the biggest challenges in IT is managing people and talent. From an HR Analytics perspective, especially, the task becomes all the more complex due to the requirements and needs of people from diverse backgrounds. As an HR professional, you need to keep everyone on the same page and still manage to get things expected by your company and managers done and further work on optimizing recruitment processes, employee satisfaction, payroll concerns, retrenchment and more.
However, all these daunting tasks are gradually becoming more approachable and doable. After the entry of data analytics in HR processes, the approach has become simpler than ever, proving to be a major advantage for the associates on their everyday work. If you are an HR and still haven’t realized the power of data analytics and how HR analytics can boost talent management, it’s time you wake up. Check out the pros of HR analytics and the advantages it can bring to your workplace.
Better Decision Making Skill
Imagine you’re in a meeting on managing attrition and you have to support your claim. Instead of revealing that your decision is based on your gut instincts, if you can show data and have the insights you have uncovered to back your claim up, won’t that make a huge difference in your organization? This is called informed decision making and works every single time. Data backed decisions are proven to be effective and precise.
If you have been thinking automation are only for client projects and those involving higher complexities, you’re wrong. As an HR professional, you do some tasks that get repeated on a daily or a weekly basis. Without having an idea on automating it, you would keep doing it for time unknown. When you implement HR analytics in your workflow, you can actually spot areas where you can automate processes and pay more attention to things that need more time and focus.
Organizations frequently send out forms or surveys on job satisfaction levels and feedbacks. The employees fill them up and submit them too. However, nobody knows what happens after that. What is supposed to be one of the most crucial organizational process, passes off as a mere eyewash, lowering the trust and credibility of HR and the organization. With HR analytics in place, you can really work on the feedback and get insights on what the actual concerns are, their prioritization, how you can solve them, what is causing them and make way for a better work environment. The best part is that all these can happen rapidly, ensuring the next time you send out feedback forms, you get more precise feedback.
Pay Gap and Management
Appraisals are the times that are most frustrating to both employers and employees alike. It is the time the effort and time put in by the employees gets valued and generally, it doesn’t go as smoothly as planned. It is the time there are cold wars between employees on hike percentages and promotions. The best way to solve this is by bringing in transparency through HR analytics. With data backing every single concern and metrics implemented on the appraisal form, it’s not just the employees who will have clear reasoning on their results but the management for having a better picture on making crucial decisions on pay hikes and promotions as well. With analytics giving you data to the point of the number of hours an employee was at his or her desk to the productivity index, valuating efforts against time and productivity becomes simpler and more genuine.
Better Training and Talent Development
With new technologies seeping in every week, it is crucial for people in your workplace to be at par with industry requirements and constantly exposed to newer skills. This can happen only when you realize there is a need for it in your workplace and more importantly, in a few particular departments. If you see the productivity of a department going down, HR analytics will give you insights on why it is going down and how you can solve it. This will help you decide if more training is needed or an upskill to a more sophisticated technology or cognitive skill is required for optimized performance.
Apart from these, HR analytics can bring in positive changes at psychological levels to actually bring about solutions to concerns you never knew existed. That’s the beauty and power of HR analytics and the sooner you learn how to achieve these, the better it is for your organization and your career. This is the right time to get started with HR analytics. Are you game?
If you want to gain analytics skills as a HR professional, head to the Full Stack HR Analytics program by Jigsaw Academy.