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Why HR Analytics is important?

By: Vignesh Shanmugam - Oct 18, 2019

 

In simple words, HR Analytics is gathering and analyzing historical HR data to  improve recruitment, talent management, retention, employee engagement etc.

Nowadays, HR software is widely used in organizations across world. Though these software, companies will have huge volumes of data about their employees right from their professional to personal information, still these information aren’t sufficient to do HR Analytics.

 

Data for HR Analytics:

Collecting relevant data from different sources enables us to make more informed and  accurate decisions. Then where do we collect data?

The simple and commonly used way of collecting data is through employee survey. Through a good survey, we can get psychometric details of an employee which helps us to understand their happiness, mental pressure, thoughts, satisfaction levels etc. without their awareness. We can also ensure whether the response is proper or not.   

 

Whats needs to be done?

1. Company should give a strong belief to all its employees that the answers provided to the survey will remain anonymous.

2. Encourage as many employees to take the survey.

3. Conduct the survey in regular intervals to capture the continuous changes in the organization.  

 

Analysis:

Through deep statistical analysis, one can get to know all kinds of information about a particular employee including their needs, expectation from the organization, tentative work tenure etc.

And also we can apply statistical testing to compare improvements over the period.

 

Benefits:  

Every organization invests lot of money into hiring process and employee training.  But many don’t join after accepting the offer and many leave after training period causing huge loss to the organization.

Adding different types of psychometric questioners as a part of interview helps organization, hire a better and reliable candidate.

 

Following are the benefits of implementing HR Analytics:

1. Improved quality of Hiring process.  

2. Reduced attrition rate.

3. Reduction in cost of unwanted hiring and training.

4. Understanding employee better.

5. Improved Talent management.  

6. Better understanding between corporate and employee culture.  

 

“Employees are the back bone for every organization”

 

Do you want to know about your employees? Drop a mail at info@kratosolutions.com


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