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K.t.patil college of MBA, Osmanabad, HRD- Strategies & System, By, Patel A.M., (Assist. Professor)
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HR Analytics, HR analytics is the process of collecting and analyzing Human Resource (HR) data in order to improve an organization's workforce performance. The process can also be referred to as talent analytics, people analytics, or even workforce analytics., Analytics is defined as the interpretation of data patterns that aid decision-making and performance improvement. HR analytics is defined as the process of measuring the impact of HR metrics, such as time to hire and retention rate, on business performance.
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Approaces to hr analytics, Data management, Data management is the practice of gathering data and ensuring that it’s uniform, accurate, consistent and complete. To ensure this, it’s important to build a data governance program (if it’s not already there) to define a policy that specifies who is accountable for various elements of the data. This includes the data’s accuracy, accessibility, consistency, and completeness., 2. Systems/Reporting/Dashboarding, When your data management basics are in order and when you’ve made the most important HR-processes fact-based by giving them KPIs, it’s important to show how its performance relates to the business. The easiest way to do this is to buy or build an effective (automated) HR-dashboard.
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3 . Pilot analyses, It isn’t necessary to (only) work on your basics for one, two or three years. A ‘two-track approach’ here is much more efficient and effective. So: work on your basics, but don’t hesitate to get started with strategic- and predictive analytics!, 4. Capability Building, Start with different target groups and prioritize them. Do you want to begin with the capability building of your HR Business Partners? Alternatively, do you want to begin with the Business Partners of the Centers of Expertise? I can recommend that you begin with your HR Business Partners., 5. Privacy, Privacy is, of course, a hot issue within every organization. It’s very important to keep this in mind before beginning HR analytics.
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Hr indicators, Human Resources key performance indicators (HR KPIs) are metrics that are used to see how HR is contributing to the rest of the organization. This means that HR KPIs measure how successful HR is in realizing the organization's HR strategy., Write a clear objective for your KPI. ... , Share your KPI with stakeholders. ... , Review the KPI on a weekly or monthly basis. ... , Make sure the KPI is actionable. ... , Evolve your KPI to fit the changing needs of the business. ... , Check to see that the KPI is attainable. ... , Update your KPI objectives as needed.
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Metrics, Human Resource (HR) metrics are measurements used to determine the value and effectiveness of HR initiatives, typically including such areas as turnover, training, return on human capital, costs of labor, and expenses per employee., Examples of HR metrics :-, Training Effectiveness Index., Training Efficiency., Employee Happiness., Absence Rate per Manager., Overtime Expense., Employee Productivity Index., Training Expenses per Employee.
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Data collection, Data collection is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes. Data collection is a research component in all study fields, including physical and social sciences, humanities, and business.
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Assess it requirements to meet hr needs, Were enough people hired?, Did you have to scramble to hire people at the last minute?, What are the skills your current employees possess?, What skills do your employees need to gain to keep up with technology?, Who is retiring soon? Do you have someone to replace them?, What are the sales forecasts?
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Relational Database, A relational database is a type of database that stores and provides access to data points that are related to one another. ... The columns of the table hold attributes of the data, and each record usually has a value for each attribute, making it easy to establish the relationships among data points., For example- , e-commerce businesses can use the relational model to process purchases and track inventory. The relational database is the most widely accepted database model.
