Analytics is based on data. There are three different HR professionals’ analytic tools such as:
- People analytics: People analytics is broader than HR analytics about the statistical analysis of people data and can cover the entire organisation, more than HR only.
- Human Resource analytics: It is the data-driven assessment of your current workforce relative to business outcomes.
- Workforce analytics: It is the creation of scenarios to visualise skill gaps and future talent needs
Human Resource analytics
HR professionals need to carry a lot on their shoulders as hiring challenges are increasing, organization is becoming more agile to maintain their market share of the talent pool. HR plays an integral role in determining these systems succeed.
HR analyst qualification
The qualification of HR analyst differ depending upon the exact job description. However there are some core qualifications needed for any HR analytics that are commonly found in a job description are:
- A bachelor/master degree in Information Technology, computer sciences, Computer application or related fields.
- X years of experience in HR system support
- Experience in working in an agile delivery environment
- Ability to work interdependent and as part of a team
- Must understand the system development lifecycle process
- Well-developed communication and interpersonal skills
- Work experience with the HR used in the company (e.g., Workday, Oracle, SAP) is a plus
HR analyst salary
The Human Resource analyst’s salary range varies on the basis of seniority, experience and location.
There are a few HR analyst certification courses for the HR professional which can be provided by the best known professional platforms.
Most Common HR analytics Challenges:
- Finding people with the right skillset to gather, manage, and report on the data
- Identifying the best HR technologies to keep track of the data
- Data cleansing
- Too much data to parse or not knowing what data is most important
- Proving its worth to executive leadership
- Data quality
- Data privacy and compliance
- Tying actions and insight to ROI
Data need by HR Analytics Tool:
- Internal Data
The data obtained from HR department of the company is referred as the internal data. HR system contains various types of data points that can be used for the analysis. Some data points includes in internal data are:
- Employee tenure
- Employee training records
- Employee compensation
- Details on any disciplinary action taken against an employee
- Performance appraisal data
- Details on high-value
- Reporting structure
- high-potential employees
- External data
By creating working relationships with other departments of the organization External data is acquired. Like internal data, it is essential to have data from outside of the organization. External data offers a global perspective that working with the data which as the internal data of the organization cannot.
External data are:
- Financial data
- Passive data from employees
- Organization-specific data
- Historical data
Benefits of HR Analytics:
Moreover the HR analytics helps HR professionals to move from operational analytics to a more strategic segment of merit. Companies are now realizing that the success of company is built with the people. Benefits of HR analytics are Task automation, Decreased retention, more productive workforce, Process improvement, improved workforce planning through informed talent development and improved employee experience.