Other parts of this series:
HR analytics, as I’ve argued in this series of blog posts, can boost HR performance at every step of the employee journey—from recruitment and onboarding to offboarding, and everything in-between. The insights it delivers can help organizations to build a living business culture, one that goes beyond employee and customer value propositions to deliver true personalization and a human touch at massive scale.
With HR analytics, FS organizations can put the information needed to make sound decisions in the hands of the people responsible for the decisions. Human capital management platforms such as ServiceNow, WorkDay, SAP SuccessFactors and Oracle HCM make analytics insights and tools accessible to everyone in the workforce.
The next generation of visualization technologies—with innovations such as virtual reality starting to make an impact—can help users to shape a story out of their data, make bold decisions and track the impact of their actions. For example, such insights can be used to successfully support large change programs and cultural transformation.
They can help forecast the return on investment from restructuring employee compensation, predict which high-performing employees are at risk of attrition, and uncover which sources of talent produce the best performers in the organization.
HR analytics will also support the business in its quest for high performance as it digitizes business processes. For instance, as organizations migrate customers towards automated digital channels including AI-powered interfaces, they can use HR analytics to track how the shift affects workforce satisfaction and productivity.
Look at this table for a view of the role of HR analytics at every step of the employee journey:
Many FS organizations believe that adopting HR analytics will be a large-scale, big-data project that could be expensive to implement in terms of time, money and human resources. But modern technology makes it easier than many imagine to set up and manage personalized employee experiences. My next post will look at a smooth adoption path for HR analytics in FS organizations.
For more on this topic, download Cracking the Genome Workforce with HR Analytics here.