What is HR Analytics?
The role of the HR department is multi-faceted such that it deals largely with ensuring that the workforce is managed, but ultimately aims to improve the ROI from the hired talents.
HR departments have several systems in place that gather and store large amounts of data:
- Employee background
- Work history
- Attendance records
- Salary computations
- Performance review
HR Analytics is about taking these data out of siloed HR systems, blending it with data from finance, sales, marketing, and more, in order to gain valuable analytics that help HR leaders make strategic decisions that would inform HR’s initiatives.
Keep your workforce happy and your business profitable with analytics that help you align your HR initiatives and strategic goals.
SET UP A WORKFORCE GEARED FOR SUCCESS
BI Tech’s HR Analytics moves past traditional metrics by providing leaders with Business Intelligence solutions
that enable data analysis, planning and forecasting, creating new capabilities in the HR:
Having a good compensation package is a competitive advantage that helps organizations attract and retain top talent.
For HR, this entails analysis of work history and salaries, market rates, bonuses, benefits, and incentives. As compensation is typically the largest expense in organizations, compensation planning ensures that offers are aligned with the organization’s financial situation.
BI Tech helps bring together various data such as work history which includes promotions, salaries, and benefits, market studies, and financial data into a Compensation Planning model that HR can easily access for analysis and budgeting activities.
Have you ever wondered how hiring another sales person would impact your bottom-line? Or perhaps you want to know how much staff you need for a major product launch?
Workforce planning lets HR ensure that the organization has the workforce capacity it needs for its future plans, and that they are equipped with the right skills. It also enables HR to anticipate unpredictable changes such as employee leaves and departures, crisis management, etc.
BI Tech’s comprehensive approach lets HR analyze workforce data together with data from other departments such as sales, marketing, and finance, in order to prepare and gear the teams for success.
If you want to…
- Analyze and visualize HR data with financial data to inform business recommendations and decisions
- Determine the business impact of HR initiatives based on costs and profits
- Plan your resources based on organizations future plans
- Attract and retain top talent through competitive compensation plans
We’ve got the solutions you need for HR Analytics, and more.
See how it works.