How to Make the Most of HR Analytics?
It’s time that organizations realize great skillsets like HR Analytics, are the key to bigger businesses. Companies now find it fancy to promote contests around “Best place to work” and the popularity of LinkedIn and Employee Relations departments have gained a significant amount of importance in the last few years.
“Human Resources isn’t a thing we do. It’s the thing that runs our business.” – Steve Wynn, American Businessman and Billionaire
And why not, after all, a well-balanced and satisfied employee base reflects in every part of the business. But the bigger question is: Is the HR department really working towards improving the business metrics with data-driven decisions? The upside to doing so is immense and how!
The information collected by the HR department is full of potentially valuable insights. Your company is already wrestling with the papers/spreadsheets doing minimal analytics and here comes the big scope of leveraging these tools. But one pint to keep in mind (for later don’t complain about not having warned about it) is privacy and security.
The importance of Analytics for HR can be proven by doing a small proof of concept, also focussing on the business properties. The mantra is simple: never overanalyze; just let the data guide. It’s high time companies absorb in the fact that HR Analytics in India is gaining momentum. HR departments are realizing the true essence of the data is in solving the problems in their concern areas of attrition rates, hiring practices, and employee retention.
However, there are more opportunities to be explored. To all the Human Resource professionals, it’s time you make a difference by starting your journey in analytics on the valuable data present within your company, thereby targeting growth. Hiring processes are no longer just about the value of the candidate but also to look at past data to help you hire better fits who go hand-in-hand with your company’s needs. Ready to be a data savvy HR?