Human resources analytics or talent analytics uses sophisticated ways to mine the HR data. The main aim of HR analytics is to provide insights that measure progress towards business goals so that they can be achieved efficiently as well as swiftly. The key challenge of HR analytics is to verify the type of data to be captured and how to use it so that the organization gets an ideal return on investment (ROI) on its human capital.
There are multiple ways you can use to present the data in multiple formats. Now-a-days companies simply create a custom data warehouse for HR data and use business intelligence (BI) applications on top.
Let us have a look at the different formats in the form of reports that can benefit the HR department to fulfill its ambitions and achieve the desired goals.
Recruitment analytics is built on the competency acquisition analytics. This report mainly focuses on how to find the best talent for your organization.
Employee performance analytics might help you to monitor each person’s individual performance. This report will provide you an insight of employees performing well and vice-versa. For the ones who are not performing well, you can take corrective actions by identifying and providing trainings and other types of support. It is a more advanced way to take corrective measures than the conventional performance reviews.
Management analytics helps you analyze the various dimensions of the management team. For example, poor leadership that can cost time, money, and can even damage the rapport of your organization.
Corporate-culture analytics helps you identify the different culture that exists within your organization. It helps you promote a particular image for the betterment of the company. This is the best way to measure the behavior and hidden rules employees use within the organization. It helps you to detect the negative culture so that you can take corrective actions to eradicate it.
Employee-turnover analytics helps you predict future employee turnover rate. You can determine the primary reason behind employees’ decision to leave the organization.
Capacity analytics helps you identify the efficiency of employees when they are assigned a certain task and how motivated they are while performing it.
Competency acquisition analytics helps you measure your success rate of your organization by analyzing the skilled experts within the organization and the ways to hire more talented people for the success of the business.
Employee attendance analytics gives you a clear idea to measure the punctuality of employees. You can use this report to review the check-in and check-out time of all employees including the ones who are always few minutes late for work! This way you can define corrective measures to improve attendance at work.
Capability analytics allows you to determine the skills that the existing employees already have and secondly, the new expertise you require to grow your business.
Absence analytics allows you to handle on sickness patterns and also helps you to identify the number of works who are mostly absent from their work.
Embrace all the above-mentioned HR analytics techniques to improve your business operations, which will help you attain your business goals and simultaneously retain the talent!