Employees are vital to any business, as they can turn even dwindling start-ups into successful enterprises. The onus lies significantly on HR professionals who have to direct their efforts towards attracting right competencies, managing the talent pool and retaining employees for long-term success.
While ensuring robust human capital management, HR managers generate a large amount of data in the form of the talent pool, performance reports, time & attendance sheet, employee life cycle, etc. However, turning all human resource data into meaningful insights is a tough task.
Big Data Impacting HR Management
HRMS software can come to their rescue by providing custom reports for different performance metrics. Take for instance HR-One HR management software, which can equip HR managers with graphical reports extracted at employee level, department level and organization level. You just need the template that suits your business setup, and start with HR analytic reports.
Here’re those key analytic tools of HR-One HR management software that can help you improve the level of expertise and skills of the workforce.
- Competency Acquisition Analytics
Competency acquisition analysis can help managers determine core competencies of their organization. Furthermore, they can analyse if the existing talent pool has desired competencies. Accordingly, corporate leaders can determine training programs to improve the competency level or recruit new talent.
Capacity analytics can prove detrimental in increasing the revenue of a business. By establishing the current operational efficiency of a business, corporate leaders can figure out how much capacity it needs to grow further. HR-One HR management software with its reporting module can help an organization figure out gaps in the existing performance of employees and their work potential. Accordingly, employees can cast off unnecessary administrative burdens and focus on their core competencies.
Employee churn analytics can be used by corporate leaders and HR managers to determine the past performance of employees. On the basis of historic churn, future attrition rates can be predicted and significant steps can be taken towards reducing the turnover. Various factors can be taken into consideration like the engagement level of employees, satisfaction index and advocacy score.
With the use of surveys, employee interviews, focus groups and ethnography, organizations can draw a clearer picture of leadership performance. Leadership analytics can be used for determining the performance of leaders and success rate of any business. By keeping the data collection process anonymous, useful information about leadership performance can be curated.
- Recruitment Channel Analytics
Recruitment channel analytics can be used by managers of different departments to figure out hiring channels from where they can attract the top talent. Based on the metrics of return per employee and human capital value added, HR-One HR management software can provide the historical assessment of employee value. Surveys and interviews can also prove useful in recruitment channel analytics.
- Employee Performance Analytics
Employee performance analytics is used for assessing the performance of individual employees. From big data analytics to crowdsourced performance assessments, different innovative ways of performance analytics can be used to gain insights on who is performing well and who needs additional training.
- Corporate Culture Analytics
Assessing and understanding your corporate culture is important to know which changes you need to incorporate to make it as productive and proliferating as that of other flourishing organizations. Your corporate culture is essentially the collection of rules and systems that embody your organization and behavioural pattern of employees. With corporate culture analytics, you can track early signs of distrust in your organizational environment. Further, through customer service conversions, you can figure out what types of recruits can prevent chances of clashes in your corporate culture.
Now that you know these essential HR analytics metrics, you can make the best use of HR-One HR management software and gain insights into the performance of your employees at the moment. Accordingly, you can take concrete steps towards improving the overall organizational efficiency.