HR Analytics: A practical guide to the future of HR

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Over the years, the HR function has evolved from acting as an administrative side-kick to the wider business. The days of simply “hiring and firing” have gone, and now organisations are recognising the significant part HR has to play in steering an organisation towards their desired outcomes.

HR Analytics is the thing widely responsible for the change in the function, and it’s empowering HR decision-makers with insights that enable them to understand their business better than ever before.

HR Analytics is undoubtedly the future of HR, but with 44% of HR decision makers reporting that they have no main focus for analytics this financial year, potentially almost half of all businesses are limiting themselves from reaching their true potential.

This report will reveal the current state of HR Analytics within the HR function and provide practical advice on how organisations can begin to use HR Analytics to reach their wider strategic goals.   

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Introduction

The challenge: Managing people as both costs and assets

People are ironically both an organisation's biggest asset and their biggest cost. Research by PwC found that at least 60% of UK CEOs plan to increase their headcount, and this very same proportion also want to reduce their people costs.

This task of keeping on top of employees as both assets and costs is inevitably difficult for organisations who rely on manual methods to manage their people data.

Understanding employee behaviour and the financial state of your organisation is something that has to be constantly observed, and cannot be achieved through simply manually inputting data into spreadsheets.

Experts agree that we’re entering into the fourth industrial revolution – the era of big data. As the world becomes more and more driven by data, HR Analytics is quickly emerging as the future of HR, and a practice that organisations must adopt in order to stay ahead of the curve and remain competitive.

HR Analytics is putting organisations in control of their people data by freeing them from the limitations of intuition-led decision-making and helping them understand what’s really happening in their business.

The technology is working to give businesses a significant advantage against the competition by providing organisations with full visibility of the root causes of business obstacles, as well as the necessary tools to anticipate the future scenarios and prepare for them in advance.

This report will uncover research, which reveals the current state of HR Analytics within the UK’s HR departments and the practical steps that organisations can take to adopt HR Analytics in order to prevent being left behind as the sector continues to rapidly evolve.

The whitepaper will explore:

  1. How HR decision-makers are currently implementing analytics
  2. HR Analytics success stories: How HR Analytics has been used to drive business success
  3. The six biggest barriers which prevent HR departments from implementing HR Analytics and how to overcome these barriers

By the time you’ve finished reading this, you should be able to understand the ways in which HR Analytics can be used to optimise your HR function and how to overcome the barriers that may be preventing you from implementing it in your own organisation.

 

1. What is HR Analytics? 

HR Analytics – also known as people analytics, is all about helping HR departments to manage their people in a more efficient way. It uses people-data such as payroll and absence management, and business information such as operational performance data, to reveal the solutions to business problems.

It helps businesses answer questions such as:

• What characteristics do top-performing employees have?


• What ROI is gained from training and development programmes?


• What does a truly successful leader look like?


• What qualities make up an amazing team?

• And who’s likely to still be in the organisation by this time next year and who is likely to leave? ...

Want to read more? Download the full article below: 

 

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