Question

PLEASE answer ALL questions to the best of your ability:

You would like to enhance the HR analytics capabilities in your organization by hiring an HR analytics specialist who will help you better collect, analyze, and report on key HR analytics. At the company’s next executive meeting, you need to make the case to the CEO, the CFO, and the CTO about why this is a good investment.

What will you and the HR analytics specialist be measuring?

What measurement practices and tools will you deploy and how?

Provide real or hypothetical examples that demonstrate how stronger HR analytics capabilities will allow you to make better HR decisions.

How will this help the company’s overall decision-making process?

Answer 1

First of all the question is what is Analytics ?

Analytics is defined as the interpretation of data patterns that aid decision making and performance improvement .

Human Resource Analytics , HR Analytics is defined as the process of measuring the impact of HR metrics such as time to time hire and retention rate on business performance.

Human resource Analytics is defined as the area in the field of analytics that deals with the people analysis and applying analytical processes to the human capital within the organisation to improve employee performance and improving employee retention.

HR analytics is the process of collecting and analysing human resource data in order to improve an organisation's workforce performance. The process can also be referred to as Talent Analytics People Analytics or even Workforce Analytics.

As HR analytics enables HR professionals to make data driven decision to attract , manage , and retain employees which improves the ROI , Return On Investment .

It helps leaders like CEO ,CFO and CTO make decisions to create better work environments and maximize the productivity of employees . It has major impact on bottom line workforce when used effectively.

There are many ways we can use HR analytics in the workforce and decision making in an organisation . Following are some of them:

(a) Talent Acquisition

(b) Training and Evaluation

(c) Employee Performance

(d) Financial Compensation

(e) Retention

(f) Marketing

(g) Planning

(h) Health and Injuries

Me and HR analytics specialist would be measuring internal data like demographics of employees data , payroll data , social networks data, performance data and Engagement data ,and for external data we would be measuring labor market data , population data , linked in data , and any data that would be relevant for specific project .

using HR analytics we can answer the following questions about the organisations HR system.

a) how high is our employee turnover rate ?

b) which of our employees will leave our organisation within an year ?

C) what percentage of employee turnover is regretted loss.

Some Human Resource Analytics trends in 2020

a) Artificial Intelligence and Automation in hiring: with the invent of artificial intelligence AI and automation in HR, recruitment will go to a sea of change. We see chat and voice assistant doing the initial contact and vetting candidates. It will also be used to identify good applications or resumes from fake ones.

b) Virtual onboarding and training: induction programs and training you will become more virtual and interactive. This this will be primarily due to massive strides in AI and Natural Language Processing NLP and Machine Learning ML.

c) Performance management : performance reviews and management will get more detailed and personal due to detailed analytics that human resource analytics tools provide.this will help in not only recruitment but also succession planning and career pathing .

d) Predictive Reports : which workforce Analytics will help in identifying attrition risks and preemptively taking measures to arrest that.not only that it will help in identifying the strength and weakness of employees but also it will help in designing better and efficient teams.