Business owners and managers across numerous industries are becoming increasingly aware of the value HR analytics can provide. However, HR analytics can be complex if you don’t use the right tools.
To ensure your HR analytics processes are as efficient and effective as possible, use an HR analytics platform. This guide will cover what one is and why it’s useful.
What is HR Analytics?
Before learning about the benefits of using an HR analytics platform, you may first need to learn a bit about what HR analytics is. In general, HR analytics involves collecting data relevant to HR, analyzing said data, and using what’s learned from your analysis to make better business decisions in the future.
For instance, you might regularly analyze data regarding how long it takes your company to fill open positions. If you learn it takes longer than it should be based on the average time to fill in your industry, you’ll know you need to streamline your processes to avoid wasting time and money.
That’s just one example. To leverage the full benefits of HR analytics, it’s often necessary to study a wide range of data sets. This is why you can substantially benefit from using an HR analytics platform.
What is an HR Analytics Platform?
An HR analytics platform is essentially a software-based dashboard that allows users to easily collect, visualize, and analyze HR data. The advantages using one can offer are numerous.
Saving time is among the most noteworthy. The amount of time it can take to gather and create visualizations of HR data without using the proper tools can be so great that it prevents HR analytics processes from actually delivering on their value. When you waste large amounts of time simply collecting data, you have much less time to act on what it can teach you.
That’s not something you need to worry about when you use an HR analytics platform. Along with helping users gather data more efficiently, a strong platform will also allow users to automate various HR analytics tasks.
Additionally, an HR analytics platform will ideally present data in such a way that all users can easily understand what they’re looking at when reviewing visualizations and reports. After all, you can only make wise decisions based on HR analytics processes if you have an understanding of the data you’re analyzing.
On top of that, a quality HR analytics platform will allow users to easily access key pieces of data, even via their mobile devices. This is critical, as it’s becoming increasingly common for workers to perform various tasks using smartphones and tablets.
Perhaps most importantly, the right HR analytics platform will keep all your relevant HR data in a single place while also keeping it secure. This is key to avoiding compliance issues that could otherwise result from data leaks.
Naturally, an HR analytics platform will also help a business more easily take advantage of the benefits HR analytics is meant to provide. They include improved hiring practices, overall improvements to the employee experience, saving money, and much more.
These are merely a few reasons your business should be using an HR analytics platform. Doing so will provide your business with a major competitive edge. Simplifying HR analytics processes will also yield higher levels of engagement among all those involved in these processes.