One of the key components in transforming HR function into a true business partner is the ability to analyze workforce data effectively and find answers to key business questions.
HR has access to unprecedented data or let me say ‘Big Data’ where we now can measure, analyze and forecast business analytics. Using metrics, measurements and predictive analysis will help you provide actionable information and insights to make key business decisions even faster.
Organizations are now able to uncover hidden patterns and unknown correlations. For example, Lisa Johnson, Director of Recruiting (North America), Gate Gourmet, mentioned using big data analysis helped them know the applicants are heavily clustered across various geographies. But also that they were easily able to track the location where most hires resulted from. Successful organizations are now using workforce analytics to predict future turnover, skills gap among current employees and what type and how much workforce they need in the future.
How Analytics is transforming HR
Watch the Google Hangout panel discussion on ‘The Role of Analytics in HR‘ that originally aired on India HR LIVE show with Global guests –
USA – Cathy Missildine, SPHR, @cathymissildine, Co-Founder, Chief Performance Officer, Intellectual Capital Consulting
India – Elango R, @agastyasays, Global CHRO and EVP, Emerging Geographies Business Unit at MphasiS
India – Ramesh Ranjan, Vice President – HR Services at Schneider Electric India
India – Amit Avasthi, @ avasthi_amit, General Manager – Human Resources, HCL Technologies
Here are a few thoughts that we covered!
- What should HR be paying attention to when we talk about analytics?
- What are some problems HR can solve by understanding the data and Analytics?
- How can HR leverage predictive analytics?
- What metrics and analytics should HR be focusing on?
- What are some skills gap in current HR pros when we talk about HR analytics and how to master them?
India HR LIVE – a social learning platform, broadcasts a LIVE video interview/panel discussion, every other Tuesday at 8:00 pm IST/9:30 am CST/ 10.30am EST for about 60 minutes LIVE on Google Plus Hangout focusing on various HR aspects to help HR Professionals enhance their knowledge and transform HR.