HR Advanced Analytics
HR analytics involves applying statistical methods or algorithms on datasets that combine HR and business data to support decision-making.HR Analytics articulates talent data and correlates it with organizational data to find and bridge the gaps between the two.
Having adequate information consolidated in one system in an accurate and consistent manner is key and HR analytics can help build strategies and better organization performance.
From understanding current challenges to unifying the diverse data points to creating predictive reports, Manalot HR Advanced Analytics solution covers it all.
Combining various internal data like workforce compensation or performance data with reasons of exit, or collation of employee feedback provides a blended answer to questions like
How does HR contribute to overall development of the organization?
Are the employees in the organization fully engaged?
Which compensation plan drives higher retention rates?
HR Advanced Analytics – Golden Rules
Strategic Planning & Analytics
HR management understands the language of strategic workforce planning and the vocabularies of business strategies, workflow supply and demand. They are not well-versed with statistics, research or machine learning. It is perfectly fine to discuss business strategies to find out what’s needed for the workforce, to finally end up doing research on HR and business data.
Actionable Analytics
Ensuring research and analysis have complete business relevance is a challenge one needs to tackle before-hand. It is easy to spend a lot of resources in collecting, managing and cleaning data for analysis that leads to research insights without definitive actions. Translating results into actions is not always easy but we ensure that they potentially have an impact on organization policies.
Analytics & Intuition
Being successful is all about decision-making. And the more data analysis’s support our decision-making, the better. Relying on data to make your decisions by itself is not sufficient. The creativity of human gut feeling, instinct and intuition play an important role in pointing to the right direction. Intuition and analytics must work hand-in-hand for effective decision-making.
Legal & Compliance
Collecting huge amounts of data that belongs to individuals and corporations requires a great deal of caution towards their privacy. The anonymity of parties involved, particularly in case of data like health or email is of supreme importance. IT security alone is not enough, we take into account the actual location of stored data, the compliance of third-party softwares and deletion policies after analysis is complete.
Efficient Money Utilization
Analytics can help in redirecting the spending of money to beneficial employee initiatives.
Tangible Outcomes
HR executives will be included in the decision-making as they can now quantify their numerous impacts on business outcomes.
HR Impact
HR executives will be included in the decision-making as they can now quantify their numerous impacts on business outcomes.
Returns on Investments
Analytics can help quantify the returns on investments, via their impact on the bottom line.
Accountability
HR departments can be held accountable for impacting the bottom line the same way business leaders are held accountable.
