Human resources (HR) analytics helps you get insights into every aspect of your organization’s resourcing from hire and onboarding right through to leave and termination by combining data from many data sources.
It helps you get insights into, and make predictions about, who and how many people you need to hire, how they need to be trained, how employees are performing, vacation/leave statistics, and what you can do to keep good employees around.
This blog will take a brief look at this last point—we’ll outline some of the insights you’ll get from HR Analytics into why people leave your company and then dive into a few of its few benefits.
The insights
HR Analytics can help your organization get insights into exactly why people leave your company. All this information can be displayed in easy to understand unified dashboards.
Here are a few insights you can get:
How high your turnover rate is for any period of time, department, or position?
Why people are leaving (salary, benefits, work environment, career advancement, etc.)?
How much of your churn is regretted versus non-regretted loss?
Which employees are most likely to leave and why they are most likely to leave?
Which skill sets you’re losing when people leave?
Whether people are more likely to leave at specific times of the year (holidays, seasons, etc.)?
"Human resources analytics helps you get insights into every aspect of your organization’s resourcing."
The benefits
Implementing an HR analytics solutions can open many distinct advantages for your organization, including:
Better decision making about who to hire, when to hire, and how to hire
Improved and targeted incentives, interventions, and career development to keep quality people around
Risk control and loss avoidance by helping you target and retain personnel with critical skillsets and experience
Driving your HR from an operational to a strategy role.