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HR Analytics: Role of HR Analytics and Its Effectiveness in Cost Reduction
HR Analytics: Role of HR Analytics and Its Effectiveness in Cost Reduction
HR Analytics: Role of HR Analytics and Its Effectiveness in Cost Reduction
HR Analytics
Role of HR Analytics and its effectiveness in cost reduction
Conceptual Map
Questions
Employee Data
1. How many employees are currently employed in your organization?
2. What are the different tiers and categories of employees?
3. How many individuals were employed in the current fiscal year?
4. How many employees left the organization in the current fiscal year?
5. What is the employee turnover in the organization?
Departmental Data
1. How many departments are there in the organization?
2. Which department has the largest number of employees?
3. Which department has the greatest employee turnover?
HR Software Data
1. Does your organization use an employee management system?
2. What are the details of the software employed? (Name and version)
3. What was the cost of deploying the software?
4. When does your organization update the software periodically?
5. What are the costs of such upgrades?
Business Performance
1. Has there been a notable year-over-year change in the organization's cost after
deploying the software?
Capability Analytics
1. What are the most important things you focus on to improve customer service?
2. What interventions would have the greatest impact on managerial effectiveness?
Capacity Analytics
1. What are the most important things you focus on to improve sales?
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2. What are the three most important things you need to focus on to decrease regretted
turnover?
Articles
HR Analytics - An Effective Evidence-Based HRM Tool (Dr. P Raghunda, 2017)
International Journal of Business and Management Invention
This paper evaluated the importance of HR analytical practices and their applicability in
different sectors. They also attempted to track the periodic developments in HR analytics as
an effective evidence-based HRM tool.
1. Highlighted the Human Capital Analytics Framework and factors that affect it.
2. Highlight the barriers to HR Analytics.
3. How Human Capital Analytics is being used.
Gives the example of how Google is using people analytics to completely reinvent HR.
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The paper highlights the processes involved, emerging trends, and their subsequent impact
on organizational effectiveness. It goes on to describe how the positive impact of HR
Analytics on effectiveness and business competitiveness concerning the low costs of
adoption and implementation of HR Analytics. They concluded by stating that despite the
increase in popularity and interest in HR Analytics, professionals still have a long way to go
till achieving analytical maturity.
Moreover, our research shows that HR is pivoting towards a more strategic function and
playing a more curtail role in the organization’s decision-making.
Workforce Analytics is facing many challenges regarding its implementation and our study
highlights
some of these obstacles such as a shortage in data analytics skills within HR, poor IT
infrastructure, and insufficient investment from the business.
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