HR Analytics & Metrics: Drive Measurable Improvement of Your People

Human Resource Management (HRM) has been considered to qualitative since its inception. A methodology to imbue numeric element into HRM called as The Theory of HR Quantification. The theory is a combination of several innovative concepts called HR Analytics. Qualitative element is extremely variable in nature. Modern organizations require a robust algorithm which should be capable of quantifying numerous HR metrics.

With big data becoming the next big thing in business analytics. There are no barriers left for witnessing unlimited growth in productivity provided the organization understands how to tap its full potential. Applying big data in the world of HR provides one glance information about what has been the performance of employees in the past, who are the top performers, who are the worst performers, what should a company consider to improve its HR productivity. HR analytics interprets past performance and predict future outcome to provide strategic solutions

Human resources metrics are different measurements that are used to show the value that the human resources function provides to the organization. These measurements demonstrate how effective the efforts of the human resources department are to the overall success of the organization.

COURSE OUTLINE

Day 1

Module 1: Introduction to HR Analytics

• HR analytics, people analytics, work force analytics and talent analytics
• Importance of HR Analytics
• Benefits of HR Analytics
• Case studies in HR analytics

Module 2: Metrics Measured by HR Analytics- basis of data driven decision

• What are HR metrics exactly?
• HR metrics in recruitment
• HR metrics related to revenue
• Other HR metrics

Module 3: Data Required by HR Analytics Tools

Internal Data

• Employee tenure
• Employee compensation
• Training requirement
• Performance appraisal
• Competent and high performing employees
• Disciplinary action taken on any employee

External Data

• Revenue Per employee or cost of hire
• Employee background check
• Employee behavior pattern in past or outside the workplace

Day 2

Module 4: HR Analytics Process

• Understanding organizational goal
• Identifying the metrics alignment with organizational goals
• Collecting and analyzing the data
• Chunking data to assess impact on the organization
• Revisiting policies and procedure to make amends

Module 5: HR Analytics Cycle

• Building and sensitizing the teams
• Create an analytical culture by coaching and monitoring the progress
• Implementing HR Analytics on small projects
• Collaborating and consulting with the legal team
• Finalize HR analytics solutions

Module 6: Challenges for HR Analytics

• Data quality, skill gaps, ethical issues, thinking only bout HR
• No or lack of inclination towards usage of HR Analytical tools
• Insufficient software and tools lead to insufficient and incomplete outcome
• Selecting right tools and software to match organizational needs

Outcome

After enrolling this training, participants will be able to:

• Understand the importance of HR Analytics
• Learn the metrics measured by HR analytics
• Learn and effectively use the data to analyze trends
• Set a benchmark and attract competent talent from the market
• Make strong and appropriate decisions
• Learn to anticipate the change in business need and environment
• Use right tools and technologies to stay ahead of competition

Benefit of Organization

• Make better and efficient decisions based on the data
• Understand the employee behavior, satisfaction, and attrition pattern in specific organization/ industry
• Formalize strategies to address issues of concern
• By learning the skill gaps in employees, train and help improvise to achieve the organizational goal
• The organization would have effective business cases for HR Interventions
• Every department would have competent employees with their goals aligned to the goals of the organization
• Employees would be able to adapt to new technologies and be updated about the market changes
• Encourage employees by building development programs that help to reach their true potential
• Incorporate innovative and progressive ideas leading to an increase in business and attract bigger and better clients.