In: Accounting
why do more companies not use analytics to solve such problems? how would you argue to make the case for analytics in an old-line HR department
HR Analytics refers to the evidence based approach to make HR Decision on the basis of Quantative tools & metrics.
In HR Reporting there is no standard tool like financial repoting which make it very difficult to as HR Manager to choose what they want & how to report the employee, Investors & Other Persons like lendor Debtors Creditors Etc which requied the data for real purpose. For Example If HR Manager represent the data regarding the employee retaintion & Satisfaction is most critical and Inportant factor than T & D , recruitment etc.
on the other side if manager said the your business current turnover is XXXX that is what cost you much and this what can be done like retaintion. thus the latter information show actionable information for managment and can be great use.
Due to Non Existing of Standard of data and other quantative tools the HR analytics is not used many business organisation. And Due to lack of consistancy in HR reporting makes it very difficult to evaluate an organisation and compare thr HR practices with other organisation
Some Things requied to improve the HR Analytics & Metrics is
a. Having Accurate Data
b Clear understanding of operational & Strategics objective
c Clear Calculation & Comparable result both inside & outside the Industry
By Following & incorprating all these things HR Analytics can be successfull in organisation