HR analytics, also referred to as people analytics, workforce analytics, or talent analytics, involves gathering, analyzing, and reporting HR data. It enables your organization to measure the impact of a range of HR metrics on overall business performance and make decisions based on data. In other words, HR analytics is a data-driven approach toward Human Resources Management specifically on employee performance, talent management, and workforce analytics.
Organizations have one thing in common and that is HR functioning and associated documents. HR segment is known for the volume of data they must capture and secure every day. Every Functioning of HRs has undergone a tremendous change over the years. Earlier counted as a process-driven function but now it is more of an output-driven function. HR must quantify their processes and make them measurable. There are specific KPIs that are measurable in every HR department like employee performance, employee retention, attrition rates, Talent, and skill rates, and so on.
HR analytics is focused on collecting, monitoring, and analyzing human resource (HR) data to generate actionable insights and improve a company’s workforce, people, and/or talent management performance.
There may be several KPIs related to human resources functions which may be related to people directly or to people’s performance or Process effectiveness and so on. Every organization has an HR department but the functioning of every HR varies in organizations, so do their KPIs or metrics.
Our Analytics team has done an in-depth study of all the major KPIs related to the HR department and below is the list to give you an overview of what your dashboard should comprise while sorting out KPIs for your organizational dashboard.
Finalizing the requirement
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Envisioning session
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Support and Maintenance
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