Problems as diverse as building the ideal employee profile, calculating an optimal return on investment (ROI) on human capital and detecting workforce trends and projections can be solved with the help of HR Analytics.
Human Resource (HR) Analytics, also called Talent Analytics or People Analytics, is the application of sophisticated data mining and business analytics (BA) techniques to human resources (HR) data. It provides insights for the effective management of HR processes and deliverables. HR management, powered by HR Analytics is smarter and efficient and both rectifies and improves processes within the HR function of an organization.
Your organization probably already has the data needed to get key insights. The challenge is, it might be created and stored in multiple places and multiple formats. It is time to move to data driven decision making.
HR DOES NOT HAVE THE SAME GROUNDING IN PROCESSES AND NUMBERS AS FINANCE, MARKETING, OPERATIONS AND OTHER BUSINESS FUNCTIONS.
THE IMPORTANCE OF HR IN DIFFERENT ORGANISATIONS IS NOT UNIFORM. IT HAS BEEN FOUND THAT HR HEADS REPORT TO THE CEO IN ONLY ABOUT 52% OF THE COMPANIES.
THE ROLE OF HR AS A FUNCTION WITHIN ORGANISATIONS ALSO VARIES BY INDUSTRY, GEOGRAPHY AND THE CEOS VIEWS ON WHAT THE HR FUNCTION SHOULD DELIVER.