Power BI is a handy tool, that has been of big boom in Data Science industry. Its not only helpful for client projects but also for understanding internal pattern and analyzing those patterns to make better future decisions. It is a data driven tool, so input from all departments yields valuable output for all. Similarly, for HR departments of organizations, it works miraculously.
HR analytics is the process of collecting and analyzing the data for improving workforce productivity, thus it is also called as Workforce or people analytics. It gives insights in past present practices and on future initiatives by HR department. For this, data analytics of the organization or outsourced, play greater role. They import employee data (provided by HR), and transform them to visualizations that are interpreted by HR and management of the referred organization. Let’s see some of the examples where HR analytics can provide insight.
- This is the most important facet of HR dept, where hiring best fit candidate can lead to much cost saving in long run for any company.
- HR Analytics provides metrics on average time to recruit various roles. Decisions are then taken on reasons for delayed process for hiring.
- This paves way for improvement in fastening the hiring process as well as keeping manager informed, when need for such roles arises in future.
- Along with time to hire, Cost to hire involved in a specific role will make it effective for departmental productivity.
- Employees always quit at the last moment, often leaving companies, clueless. Past data of employees who have left, can derive pattern and reasons of turnover rate.
- Once turnover pattern is identified, corrective actions can be taken to retain that employee.
- One more effective way out is, system can intimate on employee, who is showing likelihood of leaving the company, e.g., absenteeism rate.
- Employee engagement can be studied and improved for dealing with such further corrective actions.
In the upcoming blog, we will see more examples of the effectiveness of HR analytics.