Actions

Difference between revisions of "Human Resources Analytics (HR Analytics)"

m (The LinkTitles extension automatically added links to existing pages (https://github.com/bovender/LinkTitles).)
Line 1: Line 1:
Human resource [[analytics]] (HR analytics) is an area in the field of analytics that refers to applying analytic processes to the human resource department of an [[organization]] in the hope of improving [[employee]] performance and therefore getting a better [[Return_on_Investment_(ROI)|return on investment]]. HR analytics does not just deal with gathering [[data]] on employee [[efficiency]]. Instead, it aims to provide insight into each [[process]] by gathering data and then using it to make relevant decisions about how to improve these processes.<ref>Definition - What is [[Human Resources]] Analytics (HR Analytics)? [https://www.techopedia.com/definition/28334/human-resources-analytics-hr-analytics Techopedia]</ref>
+
== What is HR Analytics? ==
 +
'''Human Resource Analytics (HR analytics)''' is an area in the field of analytics that refers to applying analytic processes to the human resource department of an organization in the hope of improving employee performance and therefore getting a better return on investment. HR analytics does not just deal with gathering data on employee efficiency. Instead, it aims to provide insight into each process by gathering data and then using it to make relevant decisions about how to improve these processes.<ref>[https://www.techopedia.com/definition/28334/human-resources-analytics-hr-analytics What Does Human Resource Analytics (HR Analytics) Mean?]</ref>
  
 +
Mick Collins, Global Vice President, Workforce Analytics & Planning Solution Strategy and Chief Expert at SAP SuccessFactors defines HR Analytics as ''“a methodology for creating insights on how investments in human capital assets contribute to the success of four principal outcomes:
 +
(a) generating revenue,<br />
 +
(b) minimizing expenses,<br />
 +
(c) mitigating risks, and<br />
 +
(d) executing strategic plans.<br />
 +
This is done by applying statistical methods to integrated HR, talent management, financial, and operational data.”''<ref>[https://www.spiceworks.com/hr/hr-analytics/articles/what-is-hr-analytics/ Defining HR Analytics]</ref>
  
'''Core Functions of HR Analytics'''<ref>Core Functions of HR Analytics [https://www.humanresourcesmba.net/faq/what-is-human-resources-analytics/ humanresourcesmba.net]</ref><br />
 
HR analytics demonstrates the causal relationship between the activities exacted by an HR department and the [[business]] outcomes that result from this activity. Although the realm of human resources analytics can involve a wide range of activities, there are generally four core functions that manifest within the field. The core functions are the [[acquisition]], optimization, development, and paying of the employees within a business or organization. To optimize each of these core functions, human resources analytics representatives will work with managers by gaining information from them regarding the issues and problems that pertain to their unique workforce.
 
  
 +
== Core Functions of HR Analytics<ref>[https://www.humanresourcesmba.net/faq/what-is-human-resources-analytics/ Core Functions of HR Analytics]</ref> ==
 +
HR analytics demonstrates the causal relationship between the activities exacted by an HR department and the business outcomes that result from this activity. Although the realm of human resources analytics can involve a wide range of activities, there are generally four core functions that manifest within the field. The core functions are the acquisition, optimization, development, and paying of the employees within a business or organization. To optimize each of these core functions, human resources analytics representatives will work with managers by gaining information from them regarding the issues and problems that pertain to their unique workforce.
  
===See Also===
 
[[Human_Capital|Human Capital]]<br />
 
[[Human_Capital_Index_(HCI)| Human Capital Index (HCI)]]<br />
 
[[Human_Resource_Management_(HRM)|Human Resource Management (HRM)]]<br />
 
[[Human_Capital_Management_(HCM)|Human Capital Management (HCM)]]<br />
 
[[Human_Resources|Human Resources]]<br />
 
[[Performance_Management|Performance Management]]<br />
 
[[Applicant_Tracking_System_(ATS)|Applicant Tracking System (ATS)]]<br />
 
[[Personnel_Management|Personnel Management]]<br />
 
[[Enterprise_Resource_Planning_(ERP)|Enterprise Resource Planning (ERP)]]
 
  
 +
== The difference between HR Analytics, People Analytics, and Workforce Analytics<ref>[https://www.spiceworks.com/hr/hr-analytics/articles/what-is-hr-analytics/ The difference between HR Analytics, People Analytics, and Workforce Analytics]</ref> ==
 +
*HR analytics: HR analytics specifically deals with the metrics of the HR function, such as time to hire, training expense per employee, and time until promotion. All these metrics are managed exclusively by HR for HR.
 +
*People analytics: People analytics, though comfortably used as a synonym for HR analytics, is technically applicable to “people” in general. It can encompass any group of individuals even outside the organization. For instance, the term “people analytics” may be applied to analytics about the customers of an organization and not necessarily only employees.
 +
*Workforce analytics: Workforce analytics is an all-encompassing term referring specifically to employees of an organization. It includes on-site employees, remote employees, gig workers, freelancers, consultants, and any other individuals working in various capacities in an organization.
  
===References===
+
 
 +
[[File:HR vs People vs Workforce Analytics.png|400px|HR vs People vs Workforce Analytics]]
 +
 
 +
 
 +
 
 +
== See Also ==
 +
[[Human Capital]]<br />
 +
[[Human Capital Index (HCI)]]<br />
 +
[[Human Resource Management (HRM)]]<br />
 +
[[Human Capital Management (HCM)]]<br />
 +
[[Human Resources]]<br />
 +
[[Performance Management]]<br />
 +
[[Applicant Tracking System (ATS)]]<br />
 +
[[Personnel Management]]<br />
 +
[[Enterprise Resource Planning (ERP)]]
 +
 
 +
 
 +
== References ==
 
<references/>
 
<references/>
 +
 +
__NOTOC__

Revision as of 16:10, 2 December 2022

What is HR Analytics?

Human Resource Analytics (HR analytics) is an area in the field of analytics that refers to applying analytic processes to the human resource department of an organization in the hope of improving employee performance and therefore getting a better return on investment. HR analytics does not just deal with gathering data on employee efficiency. Instead, it aims to provide insight into each process by gathering data and then using it to make relevant decisions about how to improve these processes.[1]

Mick Collins, Global Vice President, Workforce Analytics & Planning Solution Strategy and Chief Expert at SAP SuccessFactors defines HR Analytics as “a methodology for creating insights on how investments in human capital assets contribute to the success of four principal outcomes: (a) generating revenue,
(b) minimizing expenses,
(c) mitigating risks, and
(d) executing strategic plans.
This is done by applying statistical methods to integrated HR, talent management, financial, and operational data.”[2]


Core Functions of HR Analytics[3]

HR analytics demonstrates the causal relationship between the activities exacted by an HR department and the business outcomes that result from this activity. Although the realm of human resources analytics can involve a wide range of activities, there are generally four core functions that manifest within the field. The core functions are the acquisition, optimization, development, and paying of the employees within a business or organization. To optimize each of these core functions, human resources analytics representatives will work with managers by gaining information from them regarding the issues and problems that pertain to their unique workforce.


The difference between HR Analytics, People Analytics, and Workforce Analytics[4]

  • HR analytics: HR analytics specifically deals with the metrics of the HR function, such as time to hire, training expense per employee, and time until promotion. All these metrics are managed exclusively by HR for HR.
  • People analytics: People analytics, though comfortably used as a synonym for HR analytics, is technically applicable to “people” in general. It can encompass any group of individuals even outside the organization. For instance, the term “people analytics” may be applied to analytics about the customers of an organization and not necessarily only employees.
  • Workforce analytics: Workforce analytics is an all-encompassing term referring specifically to employees of an organization. It includes on-site employees, remote employees, gig workers, freelancers, consultants, and any other individuals working in various capacities in an organization.


HR vs People vs Workforce Analytics


See Also

Human Capital
Human Capital Index (HCI)
Human Resource Management (HRM)
Human Capital Management (HCM)
Human Resources
Performance Management
Applicant Tracking System (ATS)
Personnel Management
Enterprise Resource Planning (ERP)


References