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Dr. Priyameet Kaur Keer: Emergence of HR Analytics

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Dr. Priyameet Kaur Keer: Emergence of HR Analytics

Dr. Priyameet Kaur Keer: Emergence of HR Analytics

People Analytics Conference 2022 Winter

Website: https://pacamp.org
Youtube: https://www.youtube.com/channel/UCeHtPZ_ZLZ-nHFMUCXY81RQ
FB: https://www.facebook.com/pacamporg

Dr. Priyameet Kaur Keer: Emergence of HR Analytics

People Analytics Conference 2022 Winter

Website: https://pacamp.org
Youtube: https://www.youtube.com/channel/UCeHtPZ_ZLZ-nHFMUCXY81RQ
FB: https://www.facebook.com/pacamporg

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Dr. Priyameet Kaur Keer: Emergence of HR Analytics

  1. 1. People Analytics Conference - Online Camp 09.12.2022 Track – 2 EMERGENCE OF HR ANALYTICS
  2. 2. HR Analytics, People Analytics, and Workforce Analytics: What is the Difference?
  3. 3. HR Analytics • HR analytics is the collection and application of talent data to improve critical talent and business outcomes. HR analytics leaders enable HR leaders to develop data-driven insights to inform talent decisions, improve workforce processes and promote positive employee experience. • For example- say a particular department in the organization is facing a consistent rise in employee attrition. HR analytics will help in identifying the cause by analyzing the historical data related to ex-employees, the feedback given by ex-employees, employee profiles and performance, etc
  4. 4. What Data Does an HR Analytics Tool Need?
  5. 5. What Data Does an HR Analytics Tool Need? INTERNAL DATA
  6. 6. Need of HR Analytics • Many organizations have high-quality HR data (residing with a multitude of systems, such as the HRMS, performance management, learning, compensation, survey, etc.) but still struggle to use it • effectively predict workforce trends, minimize risks and maximize returns. • The costs of attrition, poor hiring, sub-optimal compensation, keeping below-par employees, bad training & learning strategies. • Data-driven insights to make decisions are always better than judgmental (subjective) HR practices in terms of • how to recruit • whom to hire • how to onboard and train employees • how they keep employees informed and engaged through their tenure with the organization.
  7. 7. HR ANALYTICS TOOLS USED BY ORGANIZATION • HR analytical equipment is those that examine administrative centers and perform information. The statistics being exposed is supporting corporations to are • • expecting employee behaviors, talent gaps, and potential turnover, and forecast regions of inefficiency. some of the equipment are listed beneath: 1. R Studio 2. Python 3. Excel 4. SPSS 5. Predictive evaluation 6. visible HR metrics
  8. 8. Predictive analytics in any hiring process can save up to 23 hours of manual labor a week.
  9. 9. Factors contributing to voluntary turnover
  10. 10. PEOPLE ANALYTICS • People analytics is the practice of collecting and transforming HR data and organizational data into actionable insights that improve the way you do business. • People analytics is also called HR analytics or workforce analytics in organization .
  11. 11. Why is people analytics important for organizations? • People-related decisions are made based on evidence. It improves performance through the data analysis of various important people analytics metrics. • People analytics provides vast costs savings for organizations by optimizing employee performance and mitigating risks (e.g., attrition). • It also helps organizations understand talent gaps and how to close them.
  12. 12. PEOPLE ANALYTICS TOOLS TABLEAU Tableau is a data visualization tool that is widely used in the HR circles. For example, the below dashboard displays employee ratings
  13. 13. VISIER • Visier is one of the most robust people analytics tools on the market. The tool allows organizations to understand everything about their people across the employee life cycle – from the time of onboarding to offboarding. people analytics example of how Visier displays data:
  14. 14. • CHARTHOP • ChartHop has advanced from an organizational chart software to a people analytics solution. The tool provides a comprehensive package, from understanding diversity, compensation, attrition, workforce planning, and all-important HR metrics.
  15. 15. THE FUTURE OF HR ANALYTICS AND PREDICTIVE ANALYTICS
  16. 16. few predictions about where people analytics is heading in the near future: • People analytics is going to create supercharged organizations that can make real-time decisions with high accuracy. • HR teams will have to create a balance between technology and the human role. As people analytics advances, HR leaders will be challenged to find the human spirit in the organization and the HR function. • Soon, it will be possible for organizations to predict when employees are looking for a new job and who will the future talent be. • Language analytics will also allow leaders to ask AI-enabled technologies questions about employees. The best answer would surface by searching an entire database of past employee data and making a decision.
  17. 17. PROBLEM STATEMENT- CASE STUDY A large company named XYZ, employs, at any given point of time, around 4000 employees. However, every year, around 15% of its employees leave the company and need to be replaced with the talent pool available in the job market. The management believes that this level of attrition (employees leaving, either on their own or because they got fired) is bad for the company, because of the following reasons - 1. The former employees’ projects get delayed, which makes it difficult to meet timelines, resulting in a reputation loss among consumers and partners 2. A sizeable department has to be maintained, for the purpose of recruiting new talent 3. More often than not, the new employees have to be trained for the job and/or given time to acclimatize themselves to the company
  18. 18. PROBLEM STATEMENT- CASE STUDY(Continue) Hence, the management has contracted an HR analytics firm to understand what factors they should focus on, in order to curb attrition. In other words, they want to know what changes they should make to their workplace, in order to get most of their employees to stay. Also, they want to know which of these variables is most important and needs to be addressed right away. Since you are one of the star analysts at the firm, this project has been given to you. The goal of the case study You are required to work with predictive analysis. The results thus obtained will be used by the management to understand what changes they should make to their workplace, in order to get most of their employees to stay.
  19. 19. Few HR Analytics case Study links for further reading • https://www.cipd.co.uk/Images/case-study-coca-cola_tcm18-19987.pdf • https://www.mckinsey.com/capabilities/quantumblack/our-insights/using- people-analytics-to-drive-business-performance-a-case-study • https://www.mckinsey.com/capabilities/people-and-organizational-perform ance/how-we-help-clients
  20. 20. How HR Analytics Impacts Business Strategy & Leadership(video-link) •https://www.aihr.com/blog/hr-analytics-business-strateg y-leadership/ •https://youtu.be/MyKbMmyg3Eo
  21. 21. Dr.Priyameet Kaur Keer Associate Professor Department of Management Studies New Horizon College of Engineering Bangalore, Karnataka, India

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