U18IST5004 Financial &business analytics

What is People Analytics?

People analytics is often referred to as talent analytics or HR analytics as well. Essentially,
gathering and assessing people analytics leads to better decision-making through the
application of statistics and other data interpretation techniques.

What is HR Analytics?
Definition: Human Resource analytics (HR Analytics) is defined as the area in the field of
analytics that deals with people analysis and applying analytical process to the human capital
within the organization to improve employee performance and improving employee retention.

Top 5 types of HR Analytics Every Human Resource Manager Should Know

1. Employee Churn.
2. Capability.
3. Organizational Culture.
4. Capacity.
5. Leadership.

HR Analytics Software :-
HR Analytics software is essential to keep track of your workforce. It helps in
collating and maintaining data across various office locations, departments, roles,
etc. Here are some key advantages of using HR Analytics software:
1.Ease of use.
2.Data analytics.
3.New features.

HR Analytics Example:-
To get started with HR analytics, a human resource manager needs to map and
collect all the relevant data. For example, consider hypothetically, you want to
measure the impact of employee engagement on the financial performance of the
organization.
You will need employee engagement data and your organization’s financial
performance data to draw inferences based on these statistical inputs. As an
organization makes sure to deploy an employee engagement survey once every year.
This will help you collect the most recent data on how engaged your employees are
at the workplace.
Key working areas can be analyzed based on the output of this collective data.
Imagine what you can do with this kind of data! It is almost impossible to side look
when you have a treasure of data that can help you make future predictions
accurately.

Benefits of HR Analytics:-
HR Analytics helps your organization become more strategic, data helps you tackle
current issues and also plan better for future activities. Let’s look at some of the
benefits that HR Analytics offers:
• Improve your hiring process
• Reduce attrition
• Improve employee experience
• Make your workforce productive
• Improve your talent processes
• Gain employee trust
SUDHARSAN V
(18BIS203)