As we’ve discussed many times in our blog, HR is becoming entrenched in the business strategy by being a strong provider of workforce analytics. While some companies generate essential HR analytics through HRMS, some companies are struggling to gather HR data from numerous sources, instigate a process/ system to generate such insights.
Put in simple, HR analytics, HR data is everywhere… the difficulty is in collating it and integrating it to make decisions. Maintaining demographic, performance centric, workforce related, talent management focused analytics from disparate systems is definitely challenging. The best solution to overhaul this nightmare is to instigate a unified system to generate essential HR analytics in a visually appealing way that actually eases the decision making process with broad range of HR insights.
It is vital for the leadership to have access to a variety of performance analytics to view department wise or employee wise performance level and where every department/ company or any organization level stands in terms of the performance rating.
Comprehensive set of demographic analysis will help identification of male/female ratios, employee carder working in various geographic locations etc. Demographic data of this nature will certainly help leadership to understand how the workforce is scattered among the organization levels and make any changes improvements accordingly.
Further, HR analytics should enable to view and compare talent/ management profiles of employees based on performance, qualifications and work experience etc. This insight provides required indication to make strategic decisions such as choosing successors for strategically important positions.
Like we discussed, HR analytics provided in various perspectives via one single system assists multiple workforce related decisions in the organization. HR analytics will provide accurate and up-to-date insight for onboarding, promotions, increments, rewards etc. rather than depending on professional instincts. Strategic or operational human capital management decisions made with heavy reliance on gut feeling can be normalized with such comprehensive, accurate HR data/insights.
Visit mihcm.com to see how our HR analytics supports your business decisions!