Why choose HR Analytics as a Career?
- by Taha
In the field of Human Resources, the process of decision making is changing at a steady rate. At a time when it was guided by instinct and intuition, now the modern human resources specialists utilize the data along with the algorithms which drive the business solutions.
As per a report by the Entrepreneur in 2015, it was found that 35 percent of surveyed companies actively were involved in developing data analysis capabilities for the Human Resources.
The modern world in now data driven, which means that the HR analytics are helping to guide the talent towards a general direction. This kind of driving also includes management and hiring decisions for the organizations of all kind of sizes which includes all the industries. Most of the organizations use the metrics in HR to influence the way they recruit, retain as well as compensate the employees.
Because it allows the companies to capture and analyze the data, it becomes beneficial. This data can both increase the revenue for the companies as well as target the customers more effectively and accurately.
AIM OF HR ANALYTICS
The HR analytics always aims to provide insights into managing the employees in the best way possible and meeting the business targets at the same time Due to the availability of so much data, it becomes important for the HR teams to identify which data is more relevant and how to use it in the best way possible.
To successfully leverage the HR analytics, all of the businesses should be able to gather the data and use the same for the purpose of decision making along with the process improvement. As more businesses are realizing that the data helps them hire and bring in the right kind of talents within, companies have started investing the HR analytics tools along with deploying the trained professionals who understand the mining and applying process of the same.
As per a report by Deloitte, only 24 percent of the companies were ready for the HR analytics in 2015, and yet the same number increased by a third to 32 percent in the year of 2016. This kind of performance and environment helps address the different challenges which are related to:
• Selecting the high performance job applicants.
• Analyzing the engagement and culture.
• Identifying high career options and opportunities.
• Identifying the characteristics of the high performing sales and service teams.
BENEFITS OF HR ANALYTICS
• Better Hiring Decision
HR analytics make predictive analysis quite easier and also helps the HR make better choices based on historical data. When it comes to having an HR analytical tool, it actually makes the difference by making the HR easily hire the best candidate and get them on board.
• Good Training
Training is the backbone element of any kind of organization. Gaps which come in the process of training can also lead to specific problems and also increase the cost of the company. The different professional development programs which are offered by the companies, if not handled properly, can actually lead to being a major part of their budget.
HR Analytics provide a full analysis of the training program and also helps the organization identify the best employees.
HR Analytics also helps the company in looking at the professional life of the employees professional life and this is the main reason why companies track and record the behaviour of the employees with the customers and co workers and how they spend their time. Along with that, the employee’s performance data could also be used by the HR to identify their real talents. Not only this, but this data also provides a lot of insights towards the employees and shape the strategies which they are meant to adapt.
HR can actually use a lot of various tools which exit and stay the interviews to find the reason of employee attrition and also to chart out the right strategies which can retain them. Nowadays, the HR analytics are on the top and have created advantages of its users. It has also become the core part of the operations of the company and strategies and also deliver better outputs in the same way.
Incase If you are interested in pursuing course in HR Analytics, you can always look for more information at at Verzeo which is India’s one of the leading Internship providers.
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