#on trending HR ANALYTICS

#on trending HR ANALYTICS

“What gets measured, gets managed “– peter Drucker (Father of management)

Managing is not possible without measurement. Without having measured the performance of employees, how an HR manager can manage and motivate them for a better performance? Measurement is the starting point, and data is the key source of measurement.

DATA- what data can do?

Surprisingly, data knows you more than you. Data can track all your activities. I would like to give 2 real time examples which became possible only because of data.

1.FACEBOOK KNOWS EVERYTHING ABOUT YOU

                            Facebook knows your income level , your likes and dislikes, your interests regarding books, people, music, sports, movies, lifestyle etc. what app you use, Moreover Facebook can analyze your relationship status even if you don’t broadcast your status. Facebook also knows whether your like to a post is “real like” or “fake like”.

“Facebook is better at judging people’s personalities than their closest friends”

This is all possible because of storing the users DATA. These data does not only analyses but correlates your interest that helps Facebook to post advertisements relevant to your interest for stimulating you to buy the product.

2.GOOGLE KNOWS EVERYTHING ABOUT YOU

                            Google knows the full history of everywhere you have been, how many Gmail conversations you have had, full list of everything you have done from any android devices, all the websites that you have visited, a running count of how many android devices you have connected to your account throughout the years, and most of all, google knows how many google searches you have made this month. Again all these became possible because of data. There are still more things data can do.

HR ANALYTICS:

                          In business scenario, appropriate usage and interpretation of employee’s data helps HR to enhance its workforce’s efficiency, in order to achieve goals without shortfalls. This is what is called HR analytics. It is also called as Talent analytics which  does not only gather data on employees it also aims to provide insights into each processes by using data to make relevant  decisions, improve the process and to manage workforce in an effective manner. HR collects enough data on employee’s personal information, compensation, benefits, retirements, attrition, performance, succession time to time. So it is important to use it properly to interpret the outcome. Analytics says what is and isn’t working.

HOW ANALYTICS WORKS?

                         In today’s scenario HR managers are expected to do more, rather than just managing the workforce. As we say “Prevention is better than cure, predicting the problem and preventing it from occurring is better, and time saving, than solving the problem after it occurs.HR analytics helps to forecast the attrition rate, helps in analyzing the reason for attrition, which in turn helps HR in making necessary steps to retain them.

Companies are analyzing their employee data with workforce analytics to answer a variety of critical questions –

• ·       Why does one sales person outperform his peers?
• ·       What is the impact of learning programs on company results?
• ·        How long does it take for new employees to be productive?
• ·       Why do certain employee accomplish the goals and others fail?
• ·        How many employees would retire per year, the types of workers needed to replace them, and where those new hires were most likely to come from?

Once these questions are identified, appropriate data should be identified which will answer all these questions. Data can be collected from the HR department which is already stored. Apart from HR department, data can be collected from other departments if required.  

These data can be extracted and analyzed using analytical tools such as R and SAS that requires people skilled in software and data science. Once the analysis is done, HR can arrive at an appropriate decision and prediction which is feasible.

It also helps HR to identify the correlation factors. For example, “flexible timing” has high impact on “employee’s productivity”. Through these correlation factors managers are able to identify which one to implement to attain the desired goal. Everything now has become data driven!! Analytics and evidence based decision making will be a mandatory part of the future. If properly used, problems can be tackled in the short span of time and goals can be accomplished with appropriate decisions.!