Summary: Unlock the power of HR analytics to revolutionize your business practices and strategic decisions. From involving key decision-makers to predicting outcomes and strategic workforce planning, learn how HR analytics can give you a competitive advantage in attracting, hiring, and retaining top talent.
The strategic use of HR analytics is about using data to gain insight into your business practices and to make strategic decisions. Proper analytics implementation can revolutionize how you and other decision-makers see your organization, its problems, and potential solutions. Consider these tips as you undertake your organization’s HR analytics project.
1. Involve key decision-makers from across your organization.
The power of analytics is that the insights you gain enable you to make strategic decisions to optimize many aspects of your business. As such, your HR department should be an integral part of your company’s strategic decisions. It’s important to have HR software that delivers the right metrics to your HR department so that they can contribute valuable data to the company.
2. Start your investigation with a problem.
Instead of starting with raw data to find correlations and potential causal relationships, begin with identifying a problem that needs to be solved.
- Do you need help attracting customers?
- Is your company spending more on payroll than it can sustain?
- Are customers complaining about service?
- Are tasks falling through the cracks?
3. Use insights into correlation and causation to predict outcomes
Once you have identified a problem and analyzed the relevant data to find correlations and make causative connections, you will have a reasonable foundation to predict the outcomes of particular human resources decisions. The process of trying to solve your business problems will begin to resemble scientific inquiry more than a game of blind man’s bluff.
4. Employ analytics for strategic workplace planning
The ability to cultivate a strong workforce is essential to the strength of any business. Analytics can empower your human resources department to attract, hire, and retain top talent. You can measure the effects of specific onboarding or training programs, for example, or of offering particular salary and benefits packages. Understanding how various HR tactics affect your workforce will allow you to entice and nurture outstanding team members. Learn more about conquering HR analytics in a technology drive world on our blog.
Conclusion
Incorporating HR analytics into your organization can provide valuable insights that optimize various aspects of your business. By involving key decision-makers, starting with a problem, using insights for prediction, and employing analytics for strategic workforce planning, you can gain a competitive advantage in attracting, hiring, and retaining top talent. With the right HR software, like StarGarden's HCM 5.0, you can empower your HR department to contribute to your company's success and increase its efficiency in managing payroll and accessing accurate data for strategic planning.
StarGarden’s HR and payroll software can empower your human resources department with the data it needs to contribute to your company’s success and increase your company’s efficiency in assigning and communicating its specific tasks. Contact the StarGarden Corporation today to learn more.
Your HR & Payroll System Can Make or Break Your Business! HR executives need efficient systems and processes to manage payroll and effectively access accurate data for strategic planning.