HR is moving from interest to adoption when it comes to workforce analytics. Companies who have made the investment are now making much better data-driven decisions when it comes to their most important asset. Here are some reasons why HR is winning big with analytics:
1. Avoiding “Bad” Hires
By tracking and analyzing high performers and leaders companies can make better hiring decisions. Hiring managers can begin to look for attributes in potential candidates and conduct skill assessments as part of the interview process based on the identified attributes of internal high performers. Many companies are already sifting and sorting to find the best talent but now there are powerful tools to assist in this process. This can translate into huge savings long term because hiring backed by sound analysis will inherently improve even more efficiencies with on-boarding and retention.
2. Improving Employee Development
Now organizations can see which training and development programs are actually working over time. Analysts can prescribe the right development plan across groups or even down to the individual employee. If a certain program is not working it can be nixed and other successful programs can receive additional investment. Certain employees may respond to different types of training based on personality profiles and individualized plans can greatly enhance the overall outcomes.
3. Identifying Opportunities
Data, data, and more data provides unlimited exploration possibilities. Now companies can see which ideas and policies are popular and effective and which ones are losing. Companies can see why top performers are thriving and also identify why some are struggling. Health initiatives and new internal social network data provide great opportunities for analysis and innovation. Companies can also look at things like span of control and how employees move through the organization to improve culture and team composition.
4. Building Success
Being able to identify the primary reasons why employees are leaving or staying can be invaluable to your organization. Enterprise organizations can be more responsive and adapt to changing sentiment towards programs and policies. This translates into better employee engagement and people feel more valued. Having instant visibility gives companies the ability to act quickly and decisively. Companies can immediately halt certain actions and at the same time bolster actions that are showing positive results. Companies are thriving and building success by applying the right measures to retain their best talent.
Vemo is a leader in workforce planning and analytics subscription software and predictive analytics consulting services. Vemo differentiates itself in the market by its expertise, innovation and customer-oriented approach.
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