Introduction
In this fast moving world in an organization decisions should not take merely based on the gut feelings. Managers should consider data and analytics before taking a decision. Workforce analytics helps managers to acquire information about different talents
and then develop a strategy of deploying these skills for new business events and
leadership development. As per Beeline (2012) report, the workflow and productivity of
workforce can be enhanced more efficiently and effectively if we can measure the
human dimension of a firm in a better way. The human element can be quantified
and understood as the essence of workforce analytics.
Data analysis is becoming a widespread in
the cooperate world. The finance, customer service and
sales functions all use data abundantly, and organizations
are now looking more analysis in the domain of human
resources as well.
The initial step to introducing more data analysis into the
HR decision-making process is having the will to do it. The data must also
be presented in a clear and accessible way for workforce analytics to obtain valuable business impact.
Clear decisions can only derive from well-organized
data.
source:https://www.salesforce.com/
Benefits of workforce analytics in an organizations
Workforce analytics can help organizations to more productively address challenges or opportunities in human resources management.
- Capability to identify potential candidates who best match with organizational needs and work culture.
- Capability to forecast which employees will be high-performers so that the right resources are provided to retain them.
- Discover the need for future organizational needs so that recruitment will satisfy talent requirements.
- Discover what factors indicate employee engagement and job satisfaction in order to sustain a better performing workforce.
- Recognize and flag upcoming talent for future succession planning.
Conclusion
Workforce analytics is a new corporate strategy. It can escalate fresh culture in the workforce. Human intervention and
intuition are also essential for successful workforce analytics to understand and
extract the intelligence from the data to better inform business decisions (Beeline,
2012).
Kiron et al. (2011) suggested that lack of an adequate analytics strategy is
increasing which is likely to put the future of the current firms in jeopardy. With a
full range of analytics capabilities governed by an integrated analytics strategy,
organizations are better positioned to widen, or narrow, the distance between
themselves and competitors to their own best advantage. There is no
consistent or unique “best practices” workforce analytics strategy which is a
panacea for all organizations as issues of different types of organizations are
different.
References
Beeline. (2012).Workforce Analytics: How to define, Measure and Drive Productivity in Today’s Organization, retrieved October 11, 2012 from http://www.beeline.com/downloads/pdf/BE-workforce-analytics.pdf
Harvey, E. (2012), Effectiveness of workforce analytics and dashboards. Human
Resources Magazine, 16(6), 24-25.
Hota, J. and Ghosh, D., 2013. Workforce Analytics Approach:An emerging Trend of Workforce Management. [online] ResearchGate.net. Available at: <https://www.researchgate.net/publication/261173868_Workforce_Analytics_ApproachAn_emerging_Trend_of_Workforce_Management/link/0c9605336ad2e13e9e000000/download> [Accessed 2 May 2021].
Kiron, D., Shockley, R., Kruschwitz, N., Finch, G., & Haydock, M. (2011).
Analytics: The widening divide: How Companies are achieving competitive
advantage through analytics. MITSloan Management Review
Workforce analytics, a part of HR analytics, track and measure employee-related data and help HR teams optimize their organizations' human resources. The field focuses on much more than hiring and firing by also concentrating on the return on value for every hire.
ReplyDeletean organization’s human capital is perhaps its most important asset. Building an in-depth understanding of your staff can help you come up with better solutions and improve your competitive edge. Workforce analytics — sometimes called people analytics — can empower your team by providing better insights as to what works and doesn’t. Author has well written this article about workforce analytics.
ReplyDeleteWorkforce analytics enables managers to gather information about different talents and then develop a strategy of deploying these skills for new business events and leadership development. It further provides information on several important factors for the maximization of workforce analytics, which includes defined workforce challenges, consistency in data collection and making the platform easy to use (Bereno, 2011).
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