Human Resources Analytics (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.
Core Functions of HR Analytics
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.
Human Capital Index (HCI)
Human Resource Management (HRM)
Human Capital Management (HCM)
Applicant Tracking System (ATS)
Enterprise Resource Planning (ERP)