Are You Making the Most Out of HR Analytics?

How mature is your HR analytics strategy?

analysis-analytics-charts-669610.jpg

How advanced is your HR analytics strategy?

Today, most companies are collecting vast amounts of detailed data about their people. However, only a small percentage actually conducts a deeper analysis of this data and uses gathered insights to take action. 

Companies that act on the gathered data and analytics to solve critical business issues will surely be able to out-hire, out-manage and out-perform their competitors. Are you among them?

How mature is your company’s HR analytics strategy? Are you just getting started with some basic level of HR analytics? Or you’ve mastered even the advanced HR analytics best practices?

4 levels of HR analytics 

We distinguish four levels of people analytics, from basic to most advanced: 

  1. Descriptive analytics
    Descriptive people analytics provides an answer to the following question:
    “What has happened?”
    This type of people analytics is defined by using data to understand and reflect on what has already happened in the past.

  2. Strategic analytics
    Strategic people analytics provides an answer to the following question:
    “Why did this happen?”
    This type of data analytics is defined by developing causal models and searching for the reasons behind a certain occurrence.

  3. Predictive analytics
    Predictive people analytics provides an answer to the following question:
    “What could happen?”
    This type of data analytics is defined by using statistical models and forecasts techniques that can predict the future based on the past.
  4. Prescriptive analytics
    Prescriptive people analytics provides an answer to the following question:
    “What should we do?”
    This type of data analytics is defined by using simulation algorithms to analyze a number of different possible solutions in order to choose the one most likely to provide the desired outcome.

Learn more about the reasons why HR analytics is a new HR imperative!

Advertisements

The Best Technology To Help Overcome HR Management Problems

The Best Technology To Help Overcome HR Management Problems

In this increasingly digital age, technology is apparent in just about every industry, none more so than Human Resources, or HR. Team and data management is one area that is well serviced by some of that new tech and could help make your HR problems a thing of the past.

Whether you’re an old hand at HR management or a new starter, there’s a whole host of software, hardware and programs designed to help you overcome problems, so you can manage your new project smoothly. Because we’re supporters of all the great tech that’s out there – new and not-so-new – here’s a top 5 of free-to-use team, data and project management tools, perfect for any HR department.

Wrike

While micromanaging can be offputting for a new team of staff, Wrike’s software means your HR team or manager, can see what everyone has done and what they’re working on, all on a single platform. Although you have to pay for the more advanced options that are available, the free version is great starting point and gives you a lot of useful tools. It integrates with third-party programs and, while it’s easy to see what everyone is doing, with regards to any project or regular work, there are handy privacy settings and options, too.

Gantt Project

A flexible and well-appointed app, Gantt Project is a tool that works for HR managers and teams across numerous industries. No aspect of it falls behind a paywall and there are some useful small details – such as the ability to insert milestones or add dependency constraints for moving forward – which can be helpful when creating staff reports and managing development. It can seem a little complex at times, but, there’s a lot of ability here that will help you overcome any previous problems you’ve experienced in monitoring staff anmd keeping on top of thier achievments.

Bitrix 24

If you keep your user count to 12 or under, then this program will remain free, making it the ideal team, data or project management solution for small businesses. This app allows your entire team to communicate easily regardless of their location. And, it comes with free cloud storage too. There are some more useful details in this project management suite of tools, but you might have to pay to access the best of them. It will likely be worth it, though.

Harvest

The world of HR has numerous challenges, no matter which industry you’re working in. That’s why Harvest is a great option for many professionals. It provides an easy-to-use interface that incorporates:

  • Time-tracking.
  • Report creation.
  • Invoicing.
  • Expenses tracking.
  • Is available on mobile, laptop and tablet.

An intuitive tool that makes it easier to keep on top of everything that’s going on, no matter where you are.

Trello

Now, this program has been around since 2011, so is probably familiar to many of you. However, that doesn’t make it any less of a great option for your HR team needs. This piece of tech has grown a lot over the past six years, incorporating multiple add-ins that increase its flexibility and make it useful for multiple industries and specific needs. The interface means it’s easy to see what’s going on at-a-glance, while the real-time updates make sure the whole HR team is always on the same page as the relevant company staff.

Tech Tools for Every HR Management Problem

Only five HR, team, data and project management technology tools have been discussed here, yet there are many more excellent options out there. It’s always helpful, though, to have the benefits of existing options pointed out. Not only does it help you identify what problems you foresee or are experiencing, but you can also see what might not be as relevant to your specific needs.

HR is an important and complex role, so don’t shy away from using some of the great tech that’s been designed to make it that little bit easier for you.

Written by Jackie Edwards, specially for The HR Tech Weekly®

Securing Competitive Advantage with Machine Learning | The HR Tech Weekly®

Securing Competitive Advantage with Machine Learning

How to Secure Your Competitive Advantage with Machine Learning | The HR Tech Weekly®

Business dynamics are evolving with every passing second. There is no doubt that the competition in today’s business world is much more intense than it was a decade ago. Companies are fighting to hold on to any advantages.

Digitalization and the introduction of machine learning into day-to-day business processes have created a prominent structural shift in the last decade. The algorithms have continuously improved and developed.

Every idea that has completely transformed our lives was initially met with criticism. Acceptance is always followed by skepticism, and only when the idea becomes reality does the mainstream truly accept it. At first, data integration, data visualization and data analytics were no different.

Incorporating data structures into business processes to reach a valuable conclusion is not a new practice. The methods, however, have continuously improved. Initially, such data was only available to the government, where they used it to make defense strategies. Ever heard of Enigma?

In the modern day, continuous development and improvement in data structures, along with the introduction of open source cloud-based platforms, has made it possible for everyone to access data. The commercialization of data has minimized public criticism and skepticism.

Companies now realize that data is knowledge and knowledge is power. Data is probably the most important asset a company owns. Businesses go to great lengths to obtain more information, improve the processes of data analytics and protect that data from potential theft. This is because nearly anything about a business can be revealed by crunching the right data.

It is impossible to reap the maximum benefit from data integration without incorporating the right kind of data structure. The foundation of a data-driven organization is laid on four pillars. It becomes increasingly difficult for any organization to thrive if it lacks any of the following features.

Here are the four key elements of a comprehensive data management system:

  • Hybrid data management
  • Unified governance
  • Data science and machine learning
  • Data analytics and visualization

Hybrid data management refers to the accessibility and repeated usage of the data. The primary step for incorporating a data-driven structure in your organization is to ensure that the data is available. Then you proceed by bringing all the departments within the business on board. The primary data structure unifies all the individual departments in a company and streamlines the flow of information between those departments.

If there is a communication gap between the departments, it will hinder the flow of information. Mismanagement of communication will result in chaos and havoc instead of increasing the efficiency of business operations.

Initially, strict rules and regulations governed data and restricted people from accessing it. The new form of data governance makes data accessible, but it also ensures security and protection. You can learn more about the new European Union General Data Protection Regulation (GDPR) law and unified data governance over here in Rob Thomas’ GDPR session.

The other two aspects of data management are concerned with data engineering. A spreadsheet full of numbers is of no use if it cannot be tailored to deduce some useful insights about business operations. This requires analytical skills to filter out irrelevant information. There are various visualization technologies that make it possible and easier for people to handle and comprehend data.

Want to learn more about the topic? Watch replay of the live session with Hilary Mason, Dez Blanchfield, Rob Thomas, Kate Silverton, Seth Dobrin and Marc Altshuller.

Follow me on Twitter and LinkedIn for more interesting updates about machine learning and data integration.


Source: Securing Competitive Advantage with Machine Learning | Ronald van Loon | Pulse | LinkedIn