Global businesses are rapidly adopting artificial intelligence (AI). AI, which is essentially machines capable of performing cognitive functions similar to humans – to perceive, reason, learn, and solve problems – includes a range of capabilities. Businesses are just beginning to make use of these technologies.
However, the field of artificial intelligence is already transforming entire industries and its impact is for all to see. It offers a wide scope of capabilities for integrating information, analysing data, and interpreting the resulting insights to enhance decision-making.
What is HR Analytics?
Often referred to as people analytics, HR analytics focuses on the collection and application of talent data to improve both talent and business outcomes. HR leaders can use data-driven insights to improve talent decisions, improve workflows and processes, and ensure positive employee experiences.
HR Analytics & Employee Experience
A company’s culture is shaped by employee experience in their workspace. There is a growing trend among organisations to align all the workplace practices, HR policies, and management practices that affect people’s experiences at work.
Leading companies are using advanced methods to analyse and make use of employee data to understand employee aspirations. To ensure better performance from your top talent, it is far better to leverage data than relying on general perception.
What are the benefits of HR Analytics:
HR Analytics can help improve how HR managers address employee relations by empowering them with data that was previously not available or made use of. We’ve identified the top 5 ways that HR Analytics can benefit your organisation.
1. Identifying opportunities for Learning & Development
Reskilling is vital in these challenging times when COVID-19 has forced companies to redistribute their employees across the organisation. L&D’s importance is only going to grow as the concept of “lifelong learning” permeates the world.
In turn, L&D is a vital component of career planning. Career paths map out your people’s future, whereas training and development equip them with the tools they need to succeed. The two are equally critical, and without strong analytics, it is extremely difficult to deliver the right training to the right people.
When you use the right people analytics approach, you can use data from multiple sources to determine your employees’ current skills and competencies against those they need to develop. Thus, you can deliver tailored training programs to help them accomplish their career development goals. You can also use it to prioritise learning programs based on their effectiveness by tying training to business outcomes like productivity, engagement, and innovation.
2. Developing personalised training plans
Using learning analytics is key to gaining a superior e-learning experience, regardless of whether the training is for educational institutions or business employees.
Both traditional and digital classrooms must make use of actionable data. Course developers can use this kind of insight to formulate a framework for e-learning that suits different learning styles and interests based on all the measurable factors, including learner feedback.
The use of learning analytics improves work environments as well as experiences. Without learning analytics, instructors would not be able to measure the success of individual courses, modules, and employees, nor would they be able to adopt the most relevant teaching methods, materials, and tools. Using student feedback and analytics, one can create job enrichment by opening new opportunities for lateral and vertical movement within the organisation.
Developing an e-learning course doesn’t mean creating different courses for every employee with slightly different skills, interests, and productivity levels. Instead, you should design your course keeping in mind the primary learning objectives. With the help of HR analytics, you can make existing courses better as well as formulate new ones.
3. Identifying opportunities for promotion or praise
Using predictive analytics can be an immensely useful tool for companies because it can give insight into employee benefits, promotions, and talent management, or assist in deeper forecasting.
For instance, using analytics to calculate the effectiveness of training courses or to identify which employees will accomplish their targets is another helpful way to understand and unpack the employee experience.
You can take a deeper look at if people are doing better professionally, whether they are taking up new positions in the company, whether the company is rewarding top performers adequately.
4. Identifying areas of improvement
Capturing and tracking data about how the company is hiring, when they are hired, source and cost of recruitment, as well as attrition provides a powerful foundation to work with. Each workday, employees, clients, etc. come into contact with each other, and HR analytics facilitates the management’s ability to tailor those experiences through a continuous feedback loop.
Strategic planning that combines both employer and employee feedback typically result in organisational growth. HR analytics gives companies the power to be proactive and handle possible problems beforehand rather than reacting to issues at a much later time, and this is a crucial tool that can change the way businesses function.
Also read: With a Seat at the Table, Eruditus’ HR Plays a Critical Role in Growth, Hiring and Overall Business Strategy
5. Understanding the factors affecting morale in the workplace
How organisations engage with employees has changed dramatically over the past decade or so. It has been recognised that employees who are highly engaged will in return show great productivity, drive and have high morale. This will result in better growth and revenue for the business.
Employees should be able to convey their needs effortlessly through whichever channel they use. Assess the amount of time a single issue is taking to get resolved, or the amount of “back-and-forth” happening between employees and concerned departments. This will help you understand if the process is indeed helpful.
The key to building a great workplace, increasing retention, and improving engagement is creating a positive employee experience. This is not hard, especially if you use data to create positive interactions.
The rules of employee engagement have changed drastically in the last decade. Creating a positive employee experience is crucial to building a great workplace, increasing retention, and improving engagement.
Do you find HR analytics helpful in improving employee experience at your organisation? Share your experience with us in the comments.
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