HR metrics and analytics
To be competitive an organization have to increase theirs performances without increase theirs costs. It's often necessary to pass by a change in the HR organization. But how can we find the best performance key? And the data sets become so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. It’s easy to see how in larger organizations with thousands of employees and multiple HR data points how HR can find itself with a big data issue.
The goals of HR metrics are to create and statistically analyze large data sets of internal and external data and communicate the results across the organization in a way that informs and drives the organization to action.
The method is to convert the HR information into measurable data, that will be analyze and manipulate to predict the best scenario to reach the goal.
Brainmize has a great experience in HR metrics, modelling solutions architectures, implement key metrics and support system especially in forecasting of budget and estimate the pension plan employer charges
HR approach
Human resource management is the governance of an organization’s employees.
A company’s human resources department is responsible for creating, implementing and/or overseeing policies governing employee behaviour and the behaviour of the company toward its employees.
Human resources are the people who work for the organization; human resource management is really employee management with an emphasis on those employees as assets of the business. In this context, employees are sometimes referred to as human capital. As with other business assets, the goal is to make effective use of employees, reducing risk and maximizing return on investment.
Areas of HRM oversight include – among many others -- employee recruitment and retention, exit interviews, motivation, assignment selection, labor law compliance, performance reviews, training, professional development, mediation, and change management.
Key performance indicator
In dynamic organizations today, the role of Human Resources is vital in contributing ideas for success and executing business plans. Therefore it is critical that Human Resource initiatives are effective and link directly to the strategic goals of the organization and results are measured. Human capital is not only one of the largest expenses for an organization; but it is the major contributor to its success. Therefore Human Resources needs logical, meaningful metrics for each key area.
Our solution: HR metrics and analytics practices
The HR metrics is a solution to building and driving the detailed statistical analysis, to identify actionable insights, and building predictive models for future planning. The insight from this analysis will be used to drive HR investments, talent management decisions, and assess HR program/initiatives effectiveness.
Brainmize provide HR modelling in Budgeting, planning and forecasting for both the long- and short-term in many languages such as SAS, Access, Excel, Oracle, SAP based on statistics methods frequencies, means, percentages regression analysis, time series analysis, cluster analysis.
- HR Analytics: Analytics is not so much about numbers, as it is to do with logic and reasoning. Analytics uses analysis but then builds on it to understand the 'why' behind the figures and/or to predict decisions and requires the use of carefully constructed metrics.
- Trendwise Analytics: Many organizations have high quality HR data (residing with a multitude of systems, performance management, salary, pension plan, learning, compensation, survey, etc.) but still struggle to use it effectively to predict workforce trends, minimize risks and maximize returns.
- Descriptive analysis: Derivation of some HR operational metrics which will help us in tracking the efficiency of HR functions.
- Operational metrics: Predictive analysis based on historical HR data; Attrition forecasting, performance management, compensation analysis, survey analytics, new hire strategies etc.,
Our Advantage: Convert data into strategic decision
- Deliver reporting solutions that provide expert level consulting to support business reporting and data needs.
- Manipulate and analyze large datasets using analytic features of multiple tools.
- Advance the use of complex analytical techniques and statistical thinking across Human Resources.
- Ability to interpret HR data in order to identify significant differences, relationships, and trends, as well as factors that could affect the results of research.
- Build partnerships with HR Business Partners, HR technology team and vendors to deliver analytics and analytical tools.
- Report results of statistical analyses in the form of graphs, charts, tables and executive summary write ups.
- Develop predictive models for attrition, high performance, and recruiting demand, resource utilization Own and optimize existing HR analytics to drive meaningful business results.
- Serve as an active participant on cross-functional project teams and provide guidance and training to teams in asking appropriate questions, interpreting data, and translating into action
- Develop and maintain appropriate benchmarks with other organizations.