According to IBM “HR analytics enable organizations to use their wealth of employee data to make better decisions about their workforces and improve operational performance. From attracting top talent, to accurately forecasting future staffing needs or improving employee satisfaction, HR analytics tools empower organizations to align HR metrics with strategic business goals.”
Techopedia says “Human resource analytics (HR analytics) is an area in the field of analytics that refers to applying analytic processes to the human resource department of an organization in the hope of improving employee performance and therefore getting a better return on investment. HR analytics does not just deal with gathering data on employee efficiency. Instead, it aims to provide insight into each process by gathering data and then using it to make relevant decisions about how to improve these processes.”
Ultimately the chief aim of HR Analytics is to make better decisions or the best possible decisions when it comes to recruitment, retention, engagement, performance management and incentive management. Most organizations already use data to drive their operations, but the HR function is still lagging behind in terms of adoption. Do you agree that its time to shift to data driven HR? What do you think HR Analytics means and what can it do for your organization? How can HR departments be equipped to take on an utilize the potential of HR Analytics?