How HR analytics can be made use of ?

To become more data-savvy, enterprises must make investment to reskill HR talent and bring them up to speed with analytics adoption. HR teams should be backed by quants and data analysts who can mine employee data to generate insights.

The use of HR analytics is critical not just from talent acquisition and management perspective, but also cost optimisation. 

With automation commoditising low-skilled jobs and even some analytics functions, it is now a matter of automation versus resource deployment for HR managers. 

According to Arjun Pratap Singh, CEO and Founder, EdGE Networks, 'AI and analytics are the driving force behind HR technology and this will drive the new employment economy. From talent acquisition and workforce optimisation to workforce transformation, AI is the strategic enabler to HR.'

What HR analytics can do?

*  They can identify under-performing business units and teams and they can be reskilled or deployed to another team. 

* There is transparency in data-backed decisions and they also lend validity to the process. 

* By putting employees in a better role, HR managers can significantly reduce the attrition rate. making use of the data available the HR teams can identify internal hires who tend to perform better and cost less to the company. 

* The companies can measure business outcome using performance prediction and can even dole out incentives, raises effectively. 

The main reason stated by Kris Lakshmikanth, Founder Chairman & Managing Director of The Head Hunters India Pvt. Ltd, for the lag in adopting HR analytics is the over-supply of people vs demand. 

'I don’t see much change in the next few years,' he said. 

Another big reason could be that HR has to be 'forced up the learning curve' and get familiar with tools and techniques to realise gains from employee data. 

Another key reason is that while enterprises pay an increased emphasis on hiring digital talent, little attention is paid to the HR department – whether it is equipped to bring innovative solutions to bridge the digital skills gap? The digital transformation of HR is often overlooked as organisations tap into newer ways to hire and onboard talent. 

Courtesy: www.analyticsmag.com