22/01/2017
HR Analytics; what you need to know!
Well, it is important to measure the impact of workforce in an organization and you need fully integrated and aligned strategy to realize the full potential of the workforce. Most organizations in the region are in the early stages of adopting HR Analytics.
HR leaders play a key role in rolling out the analytics strategy and they must have a grand vision to link Analytics with the business outcomes.
Most BI tools provide static algorithmic output not really the business relevant customized /tailor made Analytics solution that can be monetized.
Static algorithmic output such as,
• Data on Employee categories (fulltime, part time, contractual)
• Number of Departments in an organization
• Number of grades/positions
• Age group
• Nationality
• Work locations
• Manpower count in a department
• Number of leavers
• Turnover %
• Number of promotions
• Number of New joiners
• Count on Transfers
• Number of Trainings conducted
• Headcount variance
• Number of applicants
• Number of jobs offered, etc.
Statistical analysis, forecasting, correlations, and predictive models not only anticipates what will happen and when it will happen but also tell why it will happen.
How headcount impacts on various dimensions across the organization, what is the headcount trend, if it is increasing, what does that really mean?
What is revenue contribution by each employee, what is the workforce required to support the core operations and forecast the revenue contribution for the next five years?
Attrition impact on organization's operations, determine the steady-state level of customers a business can support. How far the recruitment efforts have been effective and analyzing the internal hires and calculating the cost per head over a period.
Succession pipeline utilization, diversity hire, analyzing employee engagement and their happiness quotient, and spending per department, cost per employee for a particular period and understand each element contributing towards net pay, and scale range breakdown etc.
HR directors should look to implement strategic analytics that add real value than just getting the count of number of variables.
Analytics # Headcount Analysis # Attrition Analysis quotient Analysis