Unique Ways Data Analytics for HR Management
Technology 376

Unique Ways Data Analytics for HR Management

Unique Ways Data Analytics for HR Management

Handling the workforce involves a sophisticated understanding of how people work with other peoples and tools. There are unique scenarios and work-related conditions that invariably affect the performance of each employee or labor. It becomes even more complex and trickier when the performance factors are analyzed based on their interpersonal skills, knowledge, education, and domestic/interpersonal behaviors. To solve unique HR challenges, a large number of companies and enterprises have started using data analytics to make intelligent decisions for their various People Management activities. More data collected for HR specific jobs and tasks means People Management is getting better and better every time data analytics training models are applied.

Here are the unique applications of data analytics training as applied to the HR / People Performance Management teams across organizations.

1. Recruitment Analytics

Existing employees affect the entire value system of HR recruitment, hiring, and onboarding. If the Recruitment and Hiring teams are trained to handle data provided from millions of job portals, and alumni database, things can become far easier when it comes to hiring the right talent for the right project at the right time.

7 out of 10 HR managers fail to do so. Only 15% of the line managers acknowledge that they are consulted for hiring talents and skills. With so much change in the talent marketplace, it’s important to leverage Data Analytics training tools specific to hiring and recruitment processes. Good news — many startups in India are leading the pack by providing AI based automation and candidate screening solutions.

2. Pay, Promotion, and Retention

According to major surveys on how compensation structures affect employee motivation, more than 90% of the employees would rather quit their current job and move to a company that pays even 10% of the CTC from their existing salary, provided they are trusted with a new role, responsibilities and a promotion in current designations. This is a massive uptick for companies that have a very slow hierarchical promotion and pay advancement systems. A major de-motivation factor for high performing employees is seeing an under-qualified, underperforming peer or subordinate getting a pay hike.

The pay, promotion, and retention analytics can solve this issue at a granular level. By using pay and performance metrics, gathering individual data and analyzing these for appraisal and promotion cycles could erase the biased created by human perceptions.

3. Corporate Governance and Communications

EX is a powerful domain in the analytics — and this is now part of Business intelligence. Corporate branding now includes the metrics built on levels of employee engagement.

In the COVID-19 pandemic, every business has realized the real need for having a powerful employee conversation platform where each participant can update their status in Work From Home scenario, availability to attend a meeting, or simply staying in touch with their Managers and Leaders. HR data analytics training teams can extract these data to analyze sentiments and motivation levels of individuals, teams, and groups.

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Technology 376