{"id":38828,"date":"2024-10-02T23:23:30","date_gmt":"2024-10-02T23:23:30","guid":{"rendered":"https:\/\/mihcm.com\/?p=38828"},"modified":"2024-11-13T20:31:16","modified_gmt":"2024-11-13T20:31:16","slug":"hr-analytics-the-superstar-in-the-digital-hr-deck","status":"publish","type":"post","link":"https:\/\/mihcm.com\/id\/resources\/blog\/hr-analytics-the-superstar-in-the-digital-hr-deck\/","title":{"rendered":"HR analytics, the superstar in the digital HR deck"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"38828\" class=\"elementor elementor-38828\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-64763ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"64763ed\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-22eb970\" data-id=\"22eb970\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f81fc37 elementor-widget elementor-widget-text-editor\" data-id=\"f81fc37\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The superstar in the digital HR deck, HR analytics has been steadily transforming business operations ever since it entered the HR arena.<\/p><p>However, its application has grown rapidly over the last few years, making it one of the leading business gamechangers of today.<\/p><p>Let\u2019s look at exactly what HR analytics does and how it empowers employers \u2013 and employees.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf2f782 elementor-widget elementor-widget-heading\" data-id=\"cf2f782\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What exactly is HR analytics? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10dcf84 elementor-widget elementor-widget-image\" data-id=\"10dcf84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"833\" height=\"469\" src=\"https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-01-1.webp\" class=\"attachment-full size-full wp-image-38831\" alt=\"HR analytics, the superstar in the digital HR deck\" srcset=\"https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-01-1.webp 833w, https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-01-1-300x169.webp 300w, https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-01-1-768x432.webp 768w, https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-01-1-18x10.webp 18w\" sizes=\"(max-width: 833px) 100vw, 833px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73b2cf5 elementor-widget elementor-widget-text-editor\" data-id=\"73b2cf5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The easiest way to understand HR analytics is to think of it as people analytics.<\/p><p>Discarding all the noise and the clutter, HR analytics goes straight to the heart of the matter, systematically collecting and analysing human resources data.<\/p><p>This data can then be used to exponentially improve an organisation\u2019s workforce performance.<\/p><p>But that\u2019s not all: it also predicts the future.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67f1c80 elementor-widget elementor-widget-heading\" data-id=\"67f1c80\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Types of HR analytics <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2283006 elementor-widget elementor-widget-text-editor\" data-id=\"2283006\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Descriptive<\/strong>: What happened?<\/li><li><strong>Diagnostic<\/strong>: Why did it happen?<\/li><li><strong>Predictive<\/strong>: What will happen?<\/li><li><strong>Prescriptive<\/strong>: What should we do about it?<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5cbcbc3 elementor-widget elementor-widget-heading\" data-id=\"5cbcbc3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The importance of analytics <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3961da8 elementor-widget elementor-widget-text-editor\" data-id=\"3961da8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Instead of going with gut feelings when making strategic decisions that impact your business and your people, analytics, integrated within comprehensive HR and payroll management software, provides deep insights into workforce dynamics.<\/p><p>Delving into the past and projecting into the future, it empowers you to make decisions about people based on facts.<\/p><p>Not hearsay, not hope, but data-backed facts.<\/p><p>Some of the most crucial HR analytics metrics that reflect the health and performance of the workforce include:<\/p><ul><li>Employee turnover rates, reflecting retention effectiveness<\/li><li>Absenteeism, helping identify patterns and potential areas for intervention<\/li><li>Revenue per employee, providing insight into workforce productivity<\/li><li>Scores that measure employee satisfaction and loyalty<\/li><li>Cost per hire, calculating the total cost involved in hiring a new employee<\/li><li>Diversity and inclusion: helps companies identify diversity gaps and recommends actions to foster inclusivity<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6cb774 elementor-widget elementor-widget-heading\" data-id=\"c6cb774\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Enter predictive analytics <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1ff7e8 elementor-widget elementor-widget-text-editor\" data-id=\"f1ff7e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>And then there\u2019s predictive analysis. What does this mean and what does it do?<\/p><p>Simply put, it looks at the past and tells you your future, like this:<\/p><ul><li>Employee turnover: analysing historical data, a predictive model can tell you which employees are most likely to leave, enabling proactive retention strategies<\/li><li>Performance: identify who\u2019s likely to shine \u2013 or fall short \u2013 by looking at performance benchmarks, forecast future performance, and even intervene with upskilling<\/li><li>Retention: analytics can recommend specific actions to improve retention rates based on predictive insights<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5ff62e elementor-widget elementor-widget-heading\" data-id=\"f5ff62e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Accurate data collection and analysis tools <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a2db62 elementor-widget elementor-widget-text-editor\" data-id=\"8a2db62\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>For HR analytics to be effective, you need the right tools and accurate and relevant data.<\/p><p>Utilising advanced data analysis tools which automate the process make it more efficient and reduce the likelihood of human error and bias.<\/p><p>Such tools \u2013 like <a href=\"https:\/\/mihcm.com\/id\/mihcm-data-ai\/\">Data &amp; AI MiHCM<\/a> \u2013 provide businesses with critical insights into key HR metrics. This leads to informed decision-making and the development of targeted strategies, bringing about significant improvements in workforce management and overall performance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c7fd424 elementor-widget elementor-widget-heading\" data-id=\"c7fd424\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Looking to the future <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b6e6ad elementor-widget elementor-widget-image\" data-id=\"6b6e6ad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"833\" height=\"469\" src=\"https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-02-1.webp\" class=\"attachment-full size-full wp-image-38832\" alt=\"HR analytics, the superstar in the digital HR deck\" srcset=\"https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-02-1.webp 833w, https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-02-1-300x169.webp 300w, https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-02-1-768x432.webp 768w, https:\/\/mihcm.com\/wp-content\/uploads\/2024\/10\/HR-analytics-the-superstar-in-the-digital-HR-deck-02-1-18x10.webp 18w\" sizes=\"(max-width: 833px) 100vw, 833px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3af60ae elementor-widget elementor-widget-text-editor\" data-id=\"3af60ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>With technology constantly advancing, it\u2019s a given that HR analytics will play an increasingly integral role in businesses.<\/p><p>Building on this, advanced AI integration \u2013 such as AI-driven smart assistants, like MiHCM\u2019s <a href=\"https:\/\/mihcm.com\/id\/mia\/\">MiA<\/a> \u2013 will further enhance data analysis capabilities. AI-powered co-pilots \u2013 like MiHCM\u2019s <a href=\"https:\/\/mihcm.com\/id\/mihcm-smartassist\/\">SmartAssist<\/a> \u2013 can provide custom analytics and real-time insights drawn directly from HR data in a matter of minutes.<\/p><p>And what does all this really mean for businesses? An essential and significant transformation of operations via deeper insights that truly empower.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>The superstar in the digital HR deck, HR analytics has been steadily transforming business operations ever since it entered the HR arena. However, its application has grown rapidly over the last few years, making it one of the leading business gamechangers of today. Let\u2019s look at exactly what HR analytics does and how it empowers [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":38844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-38828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"_links":{"self":[{"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/posts\/38828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/comments?post=38828"}],"version-history":[{"count":0,"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/posts\/38828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/media\/38844"}],"wp:attachment":[{"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/media?parent=38828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/categories?post=38828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mihcm.com\/id\/wp-json\/wp\/v2\/tags?post=38828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}