Analytics and Human Resources go hand in hand. HR has been a collector and manager of a lot of data that is no longer just taking up space. Data analytics in HR drives strategy decisions across the business, but it is also being tapped to improve efficiencies.
Companies have adopted decision making cultures that are analytics driven. Some hire management analysts. Talent and workforce data produce measurable impact that indicates clear correlation between changes and results. HR continues to hone their data collection strategies to collect significant information that will aid in their daily decision-making processes.
Employee Engagement
Companies are looking for ways to create an employee engagement culture that serves the employee as much as employees serve the organization. Cultivating and acting upon employee feedback keeps employees engaged. Figuring out what employees are looking for to feel motivated encourages high performance environments.
An engaged employee that feels appreciated will be less likely to jump ship; will put excited energy into their role at the company; and will tell others about their great work experience. Employee engagement analytics can positively affect productivity and profitability.
Predictive Analysis
Data analytics for HR isn’t about tossing numbers around and taking guesses that are stabs in the dark. Being able to create data models and make predictions about your workforce with a sense of clarity is the goal. Forecasting business decisions and measuring accuracy will help to refine the process.
Predictive analysis can aid in decisions that involve employee retention and turnover as well as pinpoint the over and underachievers to apply tactical training where necessary. As data becomes sounder when pulled from a reliable human capital management solution with cloud technology, management decisions become based on trends and data truths—not just gut feelings.
Data Analytics Culture
In order for well-meaning organizations to remain consistent in analyzing data and applying it to decision making to affect positive change, a data analytics culture must be embraced. With so much data available, a less is more approach may help take the stigma away from the process so that it isn’t overwhelming.
One way to implement a data analytics culture in HR is to start by brain storming. What problems need resolutions? Where does the organization want to see improvements? What areas have been ignored or become stagnant? What would be an ideal situation? What data do you wish you had in your hands to help you understand where the gaps lay and where you can affect direct results?
By brainstorming the specific needs of your organization in the framework of making positive change, you can start to back into the types of data tracking that would be most useful. Making this type of brainstorming a cultural norm will not only help to pinpoint where to focus, it will also help to get employees engaged as they feel they can make a direct impact on the company’s bottom line. Encourage employee engagement in terms of finding rips and tears in the organization so that they could be repaired through analytics.
Hurdles are sure to exist when trying to create a data analytics culture, but when actionable recommendations are brought to the table and implemented with positive results, leadership teams will encourage more and build it into their overall business strategy. HR is at the strategy table making use of the big data that is at their disposal.
Gain insight with EPAY’s HR reports and analytics that provide the opportunity to make decisions on a wide range of data. Schedule a personalized demo today.