Wish HR could predict this and much more. Well, this seems to be a reality now with advanced HR analytics coming in. Analytics within HRMS tools are now enabling the HRs to take informed, definitive decisions and burst the workplace ambiguity.
How often have you faced scenario when a team member walked up to you with a complaint and you had no data to verify it? How many times have you felt that you could have done better justice to an employee if you had the right data?
Managing people is not an easy task. It comes with a big baggage of emotions, expectations and melodrama. And more often than not, it is the HR that gets caught in a tricky situation.
Now, with the work places becoming even more complex (remote employees, travel, global locations, flexibility, culture), it has become even more challenging for the HRs to take definitive decisions at workplace.
Thank God for the web based HRMS tools that did cut short the melodrama and has made the whole scenario factual and data driven! Now from utilization to deployment, the HR can take better decisions, based on real data and numbers.
HR analytics goes much beyond than just collating vast amount of data. It is more about processing this data into meaningful insights and use these insights to seek answers to some of the most daunting questions an organization faces.
Here are some samples of what type of information you can derive from HR analytics:
- What’s causing attrition? Can there be any preventive HR intervention?
- Would the new tax friendly salary structure help in increasing retention?
- Are the most engaged employees also the most productive ones?
- Can we predict who will resign in next 3,6,9 months?
HR as a function always runs the risk of being biased or judgmental when taking definite decisions. HR analytics provided by HRMS softwares reduce this risk and make the decision taking more factual.
Another important area, where HR analytics are useful is employee engagement. HR keeps doing a lot of activities to drive engagement. But are all these activities successful? Analytics help HR in determining what would people value more on basis of behavioral data and thus ensure that all engagement driven activities deliver expected results.
HR analytics is transforming people management. Along with clear stats on productivity and production, it also helps managers understand their team members better and leverage their strengths. Employees, in turn feel motivated and better connected with the organization when they are presented with opportunities that best suit them.
HR analytics provides by cloud based HRMS tools create a win-win situation across the board. While the HRs are happy with the data that enables smarter, accurate decisions, people are happy because their expectations are addressed at the right time. And, if these two are happy, the organization smiles too!