Tag: Analytics in HR

workforce analytics

Workforce Analytics Solution: 5 Key Ways It Can Improve Your Company’s Results

Are your HR and executive teams finding it difficult to plan and achieve your organization’s human capital needs? No worries! You are not alone. In fact, this is one of the most critical problems almost every organization faces today. It is a huge challenge as it takes a short-term toll on the time and energy of your HR team. Also, it impacts the company’s overall strategic planning, finances, and budget.

Effective workforce planning is essential for a company to identify issues with repeated understaffing in several departments. If left unidentified, it can impact the efficiency of the organization, resulting in the inability to accomplish organizational goals. Therefore, in a bid to improve their productivity, collaboration, flexibility, and engagement, companies should take workforce analytics solution into consideration. Apart from maximizing performance management, workforce analytics solution also helps optimize the company’s results.

At Quantzig, we understand the difference that workforce analytics can bring to your business. And to help companies maximize their efficiency, our team of experts has highlighted five key ways in which workforce analytics can offer a sharper collective eye to the HR team and help them in identifying possible future risks. But before jumping onto to the benefits of workforce analytics, let’s understand what exactly workforce analysis is.

What is Workforce Analysis?

Workforce analysis is the process of tracking and measuring employee-related metrics and optimizing an organizations human resource (HR) management and decision-making. This allows companies to focus on the return on value for every hire. Moreover, it helps analyze specific data to help identify workplace trends such as satisfaction with decisions, potential risk factors, and much more.

By leveraging a workforce analytics solution, it is possible to analyze data to have a clear picture of the current situation and make improvements to their HR strategies. This can optimize business results.

BIG DATA ANALYTICS STRATEGY (10)

Benefits of Workforce Analytics

Benefit #1: Improves efficiency with automation

For any company, workers are their assets. Sometimes the tasks they do can affect their productivity or cannot provide the required results. This is where workforce analytics can help. By leveraging workforce analytics solution, companies can identify areas where tasks can be assigned to machines via automation. This allows employees to dedicate their efforts to other important and valuable activities.

Ready to empower your business with analytics?

Are you facing difficulties in planning and achieving your organization’s human capital needs? Request a free proposal now to check out our portfolio of workforce analytics.

Benefit #2: Boosts employees’ engagement

Workforce analytics goes beyond firing and hiring information and helps companies to understand the reasons behind the inefficiency of their employees and discover factors impacting the productivity. It helps in maintaining the current workforce instead of replacing it. The goal of workforce analytics is to unveil those factors that affect engagement and performance and to overcome them by fostering better conditions.

Benefit #3: Enhance hiring criteria

For business, finding new talent is always difficult regardless of a company’s scope or size. Workforce analytics can help in identifying exactly what is needed from a new hire based on the data of previous applicants, their success, and the needs of the company. Also, it helps in understanding new candidates based on their historical data to examine whether they would be a good fit or not. (more…)

analytics in hr

What Are the Challenges in Implementing Analytics in HR?

Most organizations collect employees’ data in one form or the other and utilize it for planning and transforming their business structure. But managing human resources data of an organization is no easy task. The use of analytics in HR operations over the years has made the tasks much easier for HR professionals. Analytics also help companies gain strategic insights and develop the ability to model how workforce trends impact revenue and profits — quickly and accurately. The use of analytics in HR also proves to be beneficial for the employees as it increases employee engagement in an organization. However, there are several roadblocks that would limit cRequest Solution Demoompanies from exploiting the full potential of HR analytics. Let’s look at what they are:

Curating data

It is necessary to collect and organize data from various operations and departments within the organization for successfully implementing analytics in HR. Data has to be acquired, sanitized, unified and analyzed from multiple departments as well as from multiple business functions, including payroll and finance. Therefore, companies need experts who can not only analyze the data but also gather and organize the right data.

Lack of data analytics skills

Though companies are intensively promoting the implementation of analytics in HR functions, the hard truth is that the analytics skills of most HR professionals are limited. Most of them also require adequate training to become well versed with the art of converting data into meaningful insights. This often makes the successful implementation of analytics in HR a difficult and complex task in most companies.

Privacy and compliance

Analytics requires an adequate amount of data to be collected from various reliable sources to produce the desired results. While gathering data about an employee or a potential employee, especially from external sources, HR professionals must consider privacy. Gathering personal details of employees could sometimes land the company in trouble.

Insufficient IT resources

The implementation of analytics in HR is an IT-intensive process. Many companies, especially smaller companies do not have the infrastructure required to set up an analytics program. Furthermore, setting up the required infrastructure could prove to be an expensive and time-consuming affair for companies. This is one of the main reasons why several organizations refrain from implementing analytics in HR processes.

Data variety

HR has a variety of tools for various services sourced from different vendors. However, in most cases, these tools work in isolation. This proves to be a major challenge for organizations. To positively make use of analytics in HR, companies will have to aggregate these silo systems which would prove to be a difficult task in itself.

Employee resistance

Companies often face flak from HR professionals while relying on computers to undertake HR functions, especially in cases like hiring. They tend to feel that it takes out the “human” factor from “human resources”. There are also chances that the analytics systems might not always be accurate in predicting the right outcomes.


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