Hr analytics
- 1. HR Analytics Application of statistics, modelling, and analysis of employee-related factors to improve business outcomes. Presented By: Chandan Ray (D/15/EE/001) Biswajit Changkakoty (D/15/EE/106) Abhishek Kumar (D/15/EE/108) Amit Jyoti Deka (D/16/EE/202)
- 2. HR Analytics? Human Resource analytics is about analysing an organizations’ people problems using data. Datas are being used to answer questions like: How High is your employee annual turnover? How much of your employee turnover consists of regretted loss? Do you know which employees will be the most likely to leave your company within a year?
- 3. Need of HR Analytics Many organizations have high quality HR data (residing with a multitude of systems, such as the HRMS, performance management, learning, compensation, survey, etc.) but still struggle to use it effectively to predict workforce trends, minimize risks and maximize returns. The costs of attrition, poor hiring, sub-optimal compensation, keeping below par employees, bad training & learning strategies are just too high Data-driven insights to make decisions are always better than judgmental (subjective) HRpractices in terms of how to recruit whom to hire how to onboard and train employees how they keep employees informed and engaged through their tenure with the organization
- 4. Why HR Analytics? Performance Improvement “Global Organizations with workforce analytics and workforce planning outperform all other organizations by 30%more sells per employee.” -CedarCrestone Return Of Invesstment The business demands on HR are increasinglygoing to be onanalysis just becausepeople are so expensive. Manage and Measure“What gets measured, gets managed;What gets managed, gets executed” - PeterDrucker Linkage of Business Objectives and people strategies “ Toclearly demonstrate the interaction of business objectives and workforce strategies to determine a full picture of likely outcomes” HR DashBoard - SAP
- 5. Terminologies: Business Intelligence Business Analytics Business Intelligence: Technology-driven process for analyzing data and presenting actionable information to help executives, managers and other corporate end users make informed business decisions. Business analytics: the skills, technologies, applications and practices for continuous iterative exploration and investigationof pastbusiness performanceto gain insightanddrivebusinessplanning. Analytics Decision Business Intelligence= Core Terminologie s
- 6. Objectives of HR Analytics Drive skills training Track changes over timeBecoming Team Focused Tracking Company Profitability
- 7. LEVELS of HR Analytics Descriptive Analytics : Insight into the past Descriptive Analytics : Insight into the past Predictive Analytics : Understanding the future Prescriptive Analytics : Advise on possible outcomes
- 10. Predictive Analytics What could happen in the future ? Regression equation for region 2 Sales = 5.6 +1.2* Advertisement Exp + 0.5* Discount
- 11. Prescriptive Analytics What should we do ? 1. Increase the Advertising Expense by 10% 2. Give a 5% discount for two months
- 12. Critical areas for HR Predictive analytics Turnover modeling. Predicting future turnover in business units in specific functions, geographies by looking at factors. Targeted retention. Find out high risk of churn in the future and focus retention activities on critical few people Risk Management: profiling of candidates with higher risk of leaving prematurely or those performing below standard. Risk Management: profiling of candidates with higher risk of leaving prematurely or those performing below standard.
- 13. HR Analytics Enhance Employee Morale Anticipate performance Reduce Attrition Benefits of HR Analytics Reduce Attrition Anticipate Performance Enhance employee morale
- 14. Finding the right talent to run HR analytics. A lack of confidence Currying executive support. Data quality. Challenges to make Analytics Work 1 2 3 4 5 Data Deluge.
- 15. Conclusion The model gives vision to HR leader to make right decision. Understand the relationship between turnover and compensation. Helps the organization to reach their goals.
- 16. Thank You Lorem Ipsum is simply dummy text of the printing and typesetting industry.