What HR can do to improve analytics
Today’s HR executives are integrating new technology platforms to streamline processes, ranging from employee feedback surveys to benefits administration. The capabilities of these platforms continues to evolve, and many organizations are adopting them to improve internal processes and demonstrate HR’s contribution towards company goals.
From compiling administrative data to monitoring turnover rates, these solutions can be instrumental in helping HR professionals gather data on their organization’s culture and employee efficiency.
4 Ways Your Organization Can Leverage HR Analytics
1. Using Analytics for Employee Management
Building an effective and efficient hiring process is an essential step to ensuring your company hires talent that fits your needs. It is also essential to ensure that these new employees successfully transition into their new position and receive the training they need to be successful. HR analytics can be leveraged to measure the effectiveness of new employee training sessions, and other company education processes.
By gathering data on the training processes your organization has in place and new employee performance, these analytics solutions can help you identify which training processes were effective and which need restructuring. In addition, by comparing this data to a new employee survey, this solutions can crunch the data and reveal gaps you may have in the training process. Many of these solutions can also compile data on strengths, weaknesses, and even personality traits. By having this data, you can match new employees with a mentor that complements their positive aspects, and can strengthen any areas of weakness. Seven Group India provides HR training in Mumbai and experience the benefits of HR analytics to improve outcomes.
2. Using Analytics to Measure Your Wellness Program
A study conducted in 2016 revealed that 83% of large companies offer employees wellness programs. Largely to improve employee health and reduce healthcare costs, managing and reporting on these programs can prove to be a large lift for HR departments that have a multitude of other responsibilities.
HR analytics can be used to gather data and report outcomes on these programs. By having a solution that streamlines these processes, it can help you HR departments successfully run these programs while still staying on top of other tasks.
Healthcare analytics platforms can compile current and future data on your wellness program, demonstrate its impact on your specific spend on healthcare, and illustrate the impact of your program on your employee’s health. Having this information in real time, in one place, can set you up for success to build out future strategies and demonstrate outcomes.
3. Leveraging HR Analytics for Benefits Administration
Many employers are still struggling with benefits communication. In fact, according to the research, only about 20% of employers surveyed indicated that their employees understood their benefits very well or somewhat well.
By integrating a HR analytics platform your department can track the efficacy of your benefits communication processes and open enrollment registration processes. In addition, these solutions can track the utilization and cost of your benefits offerings. Leveraging a solution like this can provide actionable insights on how to effectively communicate benefits, and adjust future benefits offerings to meet employee needs.
4. Planning Future HR Processes with Analytics
Many HR solutions have predictive functions that are allowing HR executives to understand trends within their employee populations. By being able to predict employee output, future employee related costs, and customer needs, these platforms are enabling organizations to adjust strategies today to improve outcomes tomorrow.
A good human resource team will created a solution that can measure employee turnover, employee demographics, and identify critical roles within your company. In addition, the predictive capabilities of this solution can also identify future flight risks and the impact of implementing certain strategies within your organization.
A study by SHRM found that companies with analytics solutions saw their stock prices outpaced the S&P 500 by 30% over the previous three years. Additionally, they were also twice as likely to report that they had improved their recruitment efforts and leadership pipelines, and three times more likely to have realized cost savings and efficiency gains.
These are just a few examples of how HR departments are leveraging the abilities of Human Resource analytics. To learn more about how analytics platform can improve your HR processes or help you show your executive team the impact of your HR initiatives, Seven Group India will aid you to improve analytics to benefits organization’s outcomes. Seven Group Mumbai consists of several business units, majorly scattered in Mumbai, Chennai, Bangalore, Delhi & Kolkata. 7 Group provides services in the field of HR, Education, IT, Digital, Finance, Sales & Legal.
7 Group India is concerned about eco-friendly environment and basic children education. As a part of corporate social initative. 7 Group India runs a NGO named as STOP (seven Teaching & Oxygen Plantation). Stop NGO majorly works in the field of tree plantation and supporting children to streamline their education
From compiling administrative data to monitoring turnover rates, these solutions can be instrumental in helping HR professionals gather data on their organization’s culture and employee efficiency.
4 Ways Your Organization Can Leverage HR Analytics
1. Using Analytics for Employee Management
Building an effective and efficient hiring process is an essential step to ensuring your company hires talent that fits your needs. It is also essential to ensure that these new employees successfully transition into their new position and receive the training they need to be successful. HR analytics can be leveraged to measure the effectiveness of new employee training sessions, and other company education processes.
By gathering data on the training processes your organization has in place and new employee performance, these analytics solutions can help you identify which training processes were effective and which need restructuring. In addition, by comparing this data to a new employee survey, this solutions can crunch the data and reveal gaps you may have in the training process. Many of these solutions can also compile data on strengths, weaknesses, and even personality traits. By having this data, you can match new employees with a mentor that complements their positive aspects, and can strengthen any areas of weakness. Seven Group India provides HR training in Mumbai and experience the benefits of HR analytics to improve outcomes.
2. Using Analytics to Measure Your Wellness Program
A study conducted in 2016 revealed that 83% of large companies offer employees wellness programs. Largely to improve employee health and reduce healthcare costs, managing and reporting on these programs can prove to be a large lift for HR departments that have a multitude of other responsibilities.
HR analytics can be used to gather data and report outcomes on these programs. By having a solution that streamlines these processes, it can help you HR departments successfully run these programs while still staying on top of other tasks.
Healthcare analytics platforms can compile current and future data on your wellness program, demonstrate its impact on your specific spend on healthcare, and illustrate the impact of your program on your employee’s health. Having this information in real time, in one place, can set you up for success to build out future strategies and demonstrate outcomes.
3. Leveraging HR Analytics for Benefits Administration
Many employers are still struggling with benefits communication. In fact, according to the research, only about 20% of employers surveyed indicated that their employees understood their benefits very well or somewhat well.
By integrating a HR analytics platform your department can track the efficacy of your benefits communication processes and open enrollment registration processes. In addition, these solutions can track the utilization and cost of your benefits offerings. Leveraging a solution like this can provide actionable insights on how to effectively communicate benefits, and adjust future benefits offerings to meet employee needs.
4. Planning Future HR Processes with Analytics
Many HR solutions have predictive functions that are allowing HR executives to understand trends within their employee populations. By being able to predict employee output, future employee related costs, and customer needs, these platforms are enabling organizations to adjust strategies today to improve outcomes tomorrow.
A good human resource team will created a solution that can measure employee turnover, employee demographics, and identify critical roles within your company. In addition, the predictive capabilities of this solution can also identify future flight risks and the impact of implementing certain strategies within your organization.
A study by SHRM found that companies with analytics solutions saw their stock prices outpaced the S&P 500 by 30% over the previous three years. Additionally, they were also twice as likely to report that they had improved their recruitment efforts and leadership pipelines, and three times more likely to have realized cost savings and efficiency gains.
These are just a few examples of how HR departments are leveraging the abilities of Human Resource analytics. To learn more about how analytics platform can improve your HR processes or help you show your executive team the impact of your HR initiatives, Seven Group India will aid you to improve analytics to benefits organization’s outcomes. Seven Group Mumbai consists of several business units, majorly scattered in Mumbai, Chennai, Bangalore, Delhi & Kolkata. 7 Group provides services in the field of HR, Education, IT, Digital, Finance, Sales & Legal.
7 Group India is concerned about eco-friendly environment and basic children education. As a part of corporate social initative. 7 Group India runs a NGO named as STOP (seven Teaching & Oxygen Plantation). Stop NGO majorly works in the field of tree plantation and supporting children to streamline their education
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