HR Analytics does not stop at providing data on employee efficiency. It integrates and correlates disparate data from sources across the organization to provide relevant, timely and actionable insights to improve performance and ROI. The core HR functions - acquisition, optimization, compensation and developing the workforce - can be enhanced by the application of analytics to these processes. HR Analytics can help to delve deep into business scenarios surrounding these functions and using analytical workflows, guide HR managers to answer questions and gain insights from the information at hand. This leads to more relevant decisions and appropriate, timely actions. And therefore, a strong people-driven organization.
- Drives strategic HR initiatives
- Establishes automated and scalable analytics technology for HR
- Creates a sustainable environment for improving customer service
- Speedy deployment and accelerated ROI
- Lower Total Cost of Ownership
- Builds an enterprise-wide performance culture
- Maps workforce productivity to organizational performance
- Drives higher productivity and efficiency
- Higher employee motivation through superior incentive programs
HR Lifecycle Management - Complete hiring to retiring lifecycle that maps performance requirements to the right stage/level based on multiple parameters.
Succession Planning Analysis - Adopt long-range views that enable assessment of organizations 'readiness rate’ for sustainable and competitive workforce deployment.
Compensation Analysis - Design effective compensation benefits and policies by correlating compensation with top performance targets, skill sets, seniority and other factors. These analyses also help in forecasting future requirements.
Utilization Analysis - Analyze overall utilization of employees and their wage rates using metrics like Billable Hourly Rate, Total Hours Billed, Utilization Rate, % Contract Hours, Billable Hours Forecast, Forecast Utilization, Average Bonus Attainment etc.
Incentive Performance Analysis - Take decisions that optimize performance and productivity by analyzing incentive structure, incentive components, goal-target structure, contribution etc.
Recruitment Analysis - Measure efforts in terms of time required to recruit and the sources from hired and number of head counts from each source.
Headcount Analysis - Get insights on employee movement into, out of, and within a corporation, division or department.
Absenteeism Analysis - Perform absenteeism analysis against various departments, remuneration type, time and absenteeism types.
HR Analytics can provide you with a better understanding of employee performance when viewed against all the many factors that influence performance. It then helps you spot opportunities to improve employee performance and to retain your best. For example, the impact of compensation can be understood better by correlating it with employee performance and turnover metrics.