What Is HR Analytics And How Does It Apply to Workforce Innovation?

Are you confused as to what analytics tools actually are and how they can be applied to support human capital centric efforts such as HR innovation and workforce benchmarking? If so, you are in the right place. A recent article written by Bernard Marr for LinkedIn titled “What the hell is analytics?” explains what the “analytics” buzzword actually means.

“Basically, analytics refers to our ability to collect and use data to generate insights that inform fact-based decision-making. Advances in information technology and a complete datafication of our world now mean we have (or will have very soon) data and insights on everything,” Marr says. Analytics can be used in sports, business, healthcare, even in finding “the One.”

In today’s data-driven world, nothing is private. Everything is tracked one way or another. In the recent news about NSA leaker, Edward Snowden, Americans are upset about the surveillance methods the government uses to track terrorism. When in reality, everything we do is being tracked. Every email, every Facebook and Twitter update, even the shows we watch and how long we watch them.

So, why is analytics important to Human Resource Managers?

• Analytics dashboards put important information at your fingertips. Managers can waste time and money wading through endless screens to find information to complete basic HR functions. With HR analytics, the data is aggregated, segmented and presented in ways that enable you to clearly see the relevant information you need to maximize your productivity.
• Analytics tools help you turn mountains of data into action. For example, workforce analytics platforms can quickly compile information from past performance reviews, compensation records, learning programs, 360 assessments and other sources in one place to create an accurate portrait of the employee so you can fairly and objectively compare that employee or teams of employees to each other. As a result, you can dig into employee issues and take immediate action. And more importantly, you can develop a more strategic view of your workforce that can be valuable in evolving skillsets and identifying opportunities for innovation.
• Some workforce analytics tools – like ZeroedIn – enable you to look ahead at workforce trends. Aging populations, shifting demographics, rising and falling economies, and multi-generational issues can have a significant impact on workforce decisions – for employees, managers and HR professionals.

Overall, analytics is transforming every aspect of our lives. ZeroedIn is helping organizations channel analytics to transform workforce and human resources innovation. Contact ZeroedIn today and let us help you stay ahead of the analytics curve.