The Right Implementation of HR Analytics
It is considered to be significantly difficult to kick-start HR-analytics within an organization without fact-based thinking in HR. A step-by-step approach is essential to be followed. Going back into the history of analytics, the word analytics in the business world has been around since the 1960’s. Over the past few decades and quite recently, analytics has garnered tremendous traction becoming the market buzzword for success. While there are innumerable definitions and speculations on the HR analytics in the market, a large portion of entities pursue transformational, future-oriented, predictive and business outcome based analytics as the final frontier of their analytics journey.
However, it’s quite notable that the recording systems to record transactions and the need to analyze records have been around since before the beginning of the pre-industrial period. However, with the advanced computing power, this need has further accentuated in the digital and information age. This coupled with human nature to evaluate and share birthed the modern concept of analytics as known today in general across business circles. As data science and artificial intelligence rise with more capabilities, analytics is only expected to grow more powerful creating a perfect amalgamation of technology and human cognizance.
Coming back to modern day analytics, most organizational analytics in general and HR analytics, in particular, is confused with the traditional MIS systems. Although many organizations commonly start their analytics journey by establishing a reliable and robust MIS system, it is merely a part of the journey. For any business to assess its organizational maturity, it is vital for them to determine their organizational dynamics with analytics and then develop or acquire technology and human resources to aid that development. However, most organizations are still in the process of learning how to approach HR analytics and how it can assist them in delivering strategic value while enabling them to handle the tactical aspects of HR operations. HR analytics holds great potential in these applications and organizations must evaluate their stand with the technology to reap tangible benefits for their investment in this technology.
For years, the role of HR has been a seat at the table which needs to be optimized into something that is more of a strategic role. While most Hr systems are already there, there is a significant amount of work needed to be done in the tactical area.