Job search is no longer a once in a lifetime or two-year affair. In millennial era jobseekers are frequently checking out new, better opportunities on the go or even while at work. Thus, the responsibility as a recruiter, hiring manager or talent acquisition specialist has grown manifold. Earlier HR’s were only responsible for filling up vacancies arising out of a new role or requirement, or an employee moving out. But now organizations understand that the workforce is their biggest asset, which demands highest emphasis of finding the right candidate for the post.
This growing competition and demand for talent and tuned candidate is also a result of rising candidate awareness. High performance employees are also aware that they are a valuable asset and therefore do comprehensive benefit analysis before committing to a particular organization.
For better analysis of human resources HR Analytics play a vital role to infuse the HR Technology, which has given way to data-driven recruiting and HR analysis. These methods work on data acquired through HR technology tools like Applicant Tracking Systems and Recruitment Management Systems.
What are HR Analytics?
HR analytics is the science of gathering, organizing and analysing the data related to HR functions like recruitment, talent management, employee engagement, performance and retention by using various types of HR software and technology to ensure better decision making in all these areas. The objective of HR analytics is to actually make sense of the data available and turn it into valuable insight.
How HR’s will gather the Professional’s data?
HR leaders always gather the data of all troupes every day in one or the other forms, but a systematic collected data is always an asset to the organisation. So due care and precautions is mandatory while collecting the data. HR may follow below methods to collect the data.
· Employee surveys
· Telemetric Data
· Attendance records
· Multi-rate reviews
· Salary and promotion history
· Employee work history
· Demographic data
· Personality/temperament data
· Recruitment process
· Employee databases
the point of T-junction between Big Data and HR analytics is marked by whenever we talk about predicting employee turnover or the number of HR self-service tickets to optimize handling time, we are working with large quantities of data that help us generate new workforce insights. This means that Big (HR) Data is the input for HR analytics.
How HR Analytics is useful for HR Leaders?
1. Become major decision maker of Organisation
Human resources are a people-oriented function and is so recognized by most people. But for those who think that the HR team’s function is limited to extending offer letters or onboarding new hires, Human resource analytics (HR analytics) can prove them wrong. When used strategically, analytics can transform how HR operates, giving the team insights and allowing it actively and meaningful contribute to the organization’s bottom line.
2. Strategic workforce Planner
The time’s ago one organisation’s average workforce consisted of full-time employees. But now it is the mix of freelancers, part-timers, full-times, contractors, and everything in between. Using succession planning HR can more or less calculate the visibility of employee turnouts, who is going to leave the organisation and when. Also, can plan future workforce without disturbing the operations.
Dt: 3rd Oct 2020
Blog written by S Sendil Kumar
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