Source | www.techfunnel.com | Marianne Chrisos
The many measurements of HR analytics.
The ways to analyze and measure your HR success metrics.
There are plenty of benefits to HR analytics that help businesses understand more about their business and their employees. From being able to find out more about your hires, keep employees longer, train more effectively, or understand employee morale, HR analytics tools and reporting help HR departments understand more about how to effectively run their human resource management operations. Here are some of the specific kinds of HR data analytics that can give HR departments more insight.
This kind of workforce analytics measures employee churn, or turnover. Turnover can mean an employee leaving the company for any reason – resignation, layoff, termination. Understanding how many employees are leaving your company on a monthly or annual basis can tell you a lot about the health of your workforce. If your turnover rate is low, that likely indicates that you have a healthy culture. If churn is high, you may want to examine the possible causes.
Another example of employee analytics that HR departments can use to tell them about the health of your employee culture is absenteeism reporting. This kind of advanced analytics can be broken down in overall absenteeism or even absenteeism by manager. If your business notices a lot of absences and PTO around the holidays, that’s probably normal. If you notice sick days piling up for people who all report to the same supervisor, it may be time to do some further investigating.
Additionally, not only does absenteeism tell you something about how much employees value your organization and are engaged in their jobs, absenteeism can be expensive for businesses, leading to higher health care costs or lower productivity.