Human resource management is one of the most important aspects of any business. With advent in technology, it is now possible to use sophisticated tools to aid the core activities of the human resource department in an organization – whether it is talent acquisition, resource optimization, training & development, or employee payments. Analytics in HR is used for effecting improvement in overall employee performance.
Types of Human resource management analytics:
As a result oriented HR manager, one must be aware of certain key types of HR analytics.
This is the analytics process which helps you identify the capabilities of a prospective employee, especially those tasks which may not have formal recognition, for example, creating meaningful partnerships.
Competency Acquisition Analytics
Through this process you may find out the core competencies your business needs to succeed. It is then possible for you to create processes which will either help in developing these competencies in your existing employees or hiring new employees possessing these competencies.
This process helps in determining capacity utilization and thereby, streamlining processes. Big data analytics and sensors are helpful aids for capacity analysis.
Employee Churn Analytics
This analytics process helps in determining the attrition rate. It can help in determining future possibilities and reducing employee turnover, if desired. KPIs such as employee satisfaction, staff advocacy etc. are helpful in this analysis.
Corporate Culture Analytics
Corporate culture may include the rules, systems and general behavior of people in the organization. Analysing corporate culture may involve assessing current culture trends across the organization, thereby helping you to decide the changes you want to effect. You can also nip any undesirable culture developments in their bud and avoid hiring employees who aren’t great cultural fits.
Recruitment Channel Analytics
For an HR manager, recruitment channel analytics is perhaps the most important. Using recruitment channel analytics would help you to get information about where your employees come from and which recruitment channel is most effective, both, in terms of cost and quality.
Analysing the effectiveness of the leadership is again extremely important because leadership decides the direction in which the company is headed. For leadership analytics, HR managers could use employee interviews, focus groups, and surveys to extract data to be reviewed.
Employee performance analytics , this is the process to evaluate individual employee performance. Instead of using old and outdated performance review methods, HR managers can now use aids such as big data analytics and crowdsourced performance assessments.
Overall, analytics is a very important need and function of an HR manager and he/she must have thorough competency in its various models or types to prove it as an invaluable asset to the organisation. For acquiring HR analytics skills, one can attend HR management courses or pursue online courses for HR professionals.
Are you a people’s person? Then, Human Resource (HR) could be a good career option for you. Given that organizations are crossing geographical barriers and employing a diverse workforce, the demand for HR professionals is quite high.
Here are reasons that will convince you why it makes sense to pursue an education in HR.
You Have People Skills
If you love meeting people, can connect with them easily, have empathy for others and are always willing to help them, then you have the right people skills. Human Resource is all about people and such skills can prove to be a valuable asset.
You Have Opportunities Galore
Right from recruitment and training to analytics and employee experience, there are numerous techniques as well as non-technical job profiles in the field of HR. This is one career where you get good opportunities no matter whether you are a jack of all trades (generalist) or a master (specialist).
You Can Earn Handsome Pay Packages
Unlike the myth that HR positions don’t pay well, you can actually demand a competitive salary. The more experience you gain and the more skills you develop, there are higher chances of promotions and handsome compensation.
You Can Switch Jobs Easily
HR is one such skill which has global relevance across all industries. The fundamentals remain the same. So, while software engineers can find jobs only in IT companies and doctors can work only in hospitals, HR professionals can work in any organization or sector. So, it opens up a floodgate to even a higher number of job opportunities.
You Love Challenges
An HR person’s job is to build relationships with employees who come from different backgrounds and have distinct personalities. But, we all know that relationships are a tricky affair. You need to motivate people to come to work daily and give their 100% to the company. Their performance depends on your performance! Isn’t it a challenge? If you are specifically inclined towards this function of HR, you can consider taking up the performance management program for executives.
You Can Establish Work-Life Balance
Usually, the working hours of the HR department are restricted to 8-9 hours a day. Unless there is a meeting, an emergency or the time of appraisals, you are not required to put in very long hours. Now, isn’t that a superb perk? These days, several organizations are recruiting remote employees, freelancers and even work-from-home professionals in HR. So, this again offers good scope to maintain a work-life balance.
You can obtain a formal degree in Human Resource through colleges/universities at the campus or via online hr courses. These courses introduce you to the basics of HR, its functions, tools and skills.