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How HR Analytics enables the organization to utilize and measure the information
HR analytics is
another popular word among much ground breaking, well-to-do profitable
organizations. More or less, HR Analytics enables the organizations to utilize
information and its measurements thereby understanding their team members and
make necessary modifications in processes/ organization. HR is presently normal
in most of the organizations; to screen employee’s performance and other
evaluations. There are numerous manners by which HR analytics can be utilized
to drive leadership, decision making and team dynamics within an organization.
HR analytics
enables organizations to run a wide range of surveys in parallel. This makes it
conceivable to keep a track of outcomes over different timeframes, displaying
change, predicting patterns, and aiding the basic leadership process for the
companies. Having a database likewise makes it hassle-free to comprehend which
survey had a higher response rate, along with the tracking of type of responses
and sentiments. It helps in drawing links by keeping a note of different measurements
at determined intervals, progressively. These incorporate metrics like
performance of employees, employee engagement, employee flexibility and
mobility and group consensus.
By the use of
such analytical insights, organization metrics are benchmarked and tracked
thereby making it possible for the management to re-align the employee with
certain attributes for achieving the business objectives in better manner. Such
measurements also allow the organizations to understand the major driving force
in context to the employees for the overall company’s performance. In addition,
it also helps the organizations to set benchmarks for various performance
parameters and hence take corrective measures intermittently to sustain the
performance levels of the employees.
Few major focus of HR Analytics:
Tracking organization’s profitability
In context to
the employee force, there are numerous factors that may influence any company’s
profitability. However, with the application of HR Analytics, an organization
can not only understand the change patterns of the profitability but also can
observe the reasons for any specific pattern in the same. Hence, the HR
Analytics enables the organization to understand the driving as well as the
restraining factors for the upsurge and downfall in profitability and take the
required measures.
In case, an
organization is able to understand the root cause for the dip in profitability,
taking corrective actions for the workforce becomes much easier and informed.
HR analytics guarantees that information is up front when organizations are
settling on significant choices, for example, budgeting the funds for employee
training, team-building exercise and overall employee investments. By having a
hold on the employee’s thought for where they are lacking in terms of the skill
sets or the professional experience, an organization can take the mutual
benefitting decisions for company and employees.
Saves time with intermittent tracking
With HR
Analytics, the organizations are able to monitor the employee’s data pertaining
to performance, team dynamics, and enhancement in skill sets. This is also
favourable for the companies in noticing the deviation in results of the
measures taken in order for enhancing the employee performance. Hence, organization can keep a close check as
to whether a certain change in process or new initiative is driving or
restraining the performance and accordingly can modify the measure taken. As
the measures a company takes for the upliftment of the employee engagement and
performance entails a certain cost. Hence, to have a check whether the
investment in processes and in employee work force is creating desired results
or is leading to loss in profitability. With the track of the changes in
employee intermittently companies can invest more wisely and in much informed
fashion.
Team Centric Tracking
All the
organizations have employees working together as different teams for various
goals. However, a number of times it has been with the organizations that the
discomfort of members with in a team leads to successive project failures
leading to the losses in business.
Hence it is
always wise to think for the right combination of behavioural attributes as a
team. HR Analytics helps here by tracking the teams’ performance. The specific
programs of HR Analytics enable the organizations to track employees while
working for a team. The core benefit of such program is that companies can take
an informed decision while including employees in different teams with an
expectation of high performance.
Training & Development Tracking
The data derived
from HR analytics consolidates different various data points which can be
extrapolated to make wise decisions pertaining to the training and development.
It may help in recognizing which set of employee are providing high return on
investments so that in a particular time frame investments on these employees
in context to the skill development and training can be more profitable for the
Organization.