Are you Ready for HR Analytics?
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Has your organisation invested in big data and analytics? Have you been hearing about HR analytics from solution providers? Perhaps you have bought a tool for HR analytics. Wonder what it all means for you and your organisation?
While customer-focused analytics is relatively mature, HR analytics is an emerging area. Organisations are just beginning to embrace and make some sense of it.
MIT Sloan Review shares its research and industry insights from customer analytics. Here are four lessons on how to successfully leverage HR analytics to support your strategic workforce decisions.
Model, measure and manage your employee network dynamics
Your employee network and the links between employees (interactions and other similarities) can be examined to understand onboarding success and high employee engagement. When social influencers and social connectors leave, this may lead to talent drain from your organisation.
Analytics are not magic.
Your organisation should set the right expectations knowing that analytics are but a tool to help make better decisions. HR managers need to interpret and adjust the outcomes of HR analytical models based on expertise and experience. It helps to have an open and informed mindset.
Analytical HR models should provide business insights.
Rather than focus on statistical performance, HR analytics should give deepened insights to your business in a way that is transparent and ethical. HR decisions based on analytics should be clearly and simply explained to stakeholders. Care must be taken to select data, ensuring respect to regulations, privacy and fairness to different groups of employees.
Back test the impact of your analytical workforce models
It is important to check the performance of HR analytics against reality. Models need to be evaluated and improved. Which recruitment channels give candidates with the right profiles? Which recruitment channels gave the best candidates?
We at dcHR.tech believe that embarking on HR analytics is the way to go in your HR digitalisation journey. The question is whether you are ready to make these strategic workforce choices to empower your employees - performing, loyal and engaged. HR analytics is a necessary next step to measure the success of your HR transformation.
[Article migrated from dcHR.tech]