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HR Analytics & Data-Driven Decision Making

HR analytics plays a vital role in enhancing strategic HR decision-making by transitioning from intuition-based to data-driven insights. The chapter highlights key HR metrics, tools for effective data management, applications of HR analytics across various HR functions, and ethical considerations for data usage. Together, these elements foster improved hiring, retention, performance, and overall HR effectiveness.

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Sections

  • 1

    What Is Hr Analytics?

    HR analytics utilizes data to enhance decision-making in human resources.

    Learning Practice

  • 1.1

    Descriptive Analytics

    Descriptive analytics provides insights into past events, like employee turnover trends, aiding HR decision-making.

    Learning Practice

  • 1.2

    Predictive Analytics

    Predictive analytics in HR focuses on forecasting future outcomes, such as employee attrition, using data-driven insights.

    Learning Practice

  • 1.3

    Prescriptive Analytics

    Prescriptive analytics focuses on providing suggestions for actions to optimize outcomes in HR functions.

    Learning Practice

  • 2

    Key Hr Metrics And Kpis

    This section identifies key HR metrics and KPIs essential for effective workforce management.

    Learning Practice

  • 2.1

    Time To Hire

    This section examines the importance of the 'time to hire' metric in evaluating recruitment efficiency and its implications for overall workforce management.

    Learning Practice

  • 2.2

    Employee Turnover Rate

    The Employee Turnover Rate is a pivotal HR metric that gauges the frequency of employee departures within an organization.

    Learning Practice

  • 2.3

    Absenteeism Rate

    The absenteeism rate is a crucial HR metric that indicates employee engagement and organizational culture.

    Learning Practice

  • 2.4

    Learning Roi

    Learning ROI measures the effectiveness of training investments in terms of improved productivity and skills.

    Learning Practice

  • 2.5

    Diversity Ratio

    The Diversity Ratio is a key HR metric that provides insights into workforce inclusion and compliance.

    Learning Practice

  • 3

    Tools For Hr Data Management

    This section discusses various tools essential for effective HR data management, emphasizing the importance of clean and centralized data for analysis.

    Learning Practice

  • 4

    Applying Hr Analytics

    This section explores the practical applications of HR analytics in workforce management, focusing on areas like workforce planning, recruitment, retention, and performance.

    Learning Practice

  • 4.1

    Workforce Planning

    Workforce planning is the strategic process of forecasting and managing an organization's human resources effectively using analytics.

    Learning Practice

  • 4.2

    Recruitment Analytics

    Recruitment analytics leverages data to enhance the efficiency and effectiveness of hiring processes.

    Learning Practice

  • 4.3

    Retention Analytics

    Retention analytics focuses on identifying factors that contribute to employee attrition and developing strategies to mitigate risks.

    Learning Practice

  • 4.4

    Performance Analytics

    Performance analytics focuses on measuring and enhancing workforce productivity and engagement, using HR data to inform effective strategies.

    Learning Practice

  • 5

    Ethical Use Of Hr Data

    This section emphasizes the importance of ethical standards in HR data management, focusing on employee privacy, bias avoidance, and regulatory compliance.

    Learning Practice

  • 5.1

    Maintain Employee Privacy And Data Security

    This section emphasizes the importance of maintaining employee privacy and ensuring data security within HR analytics.

    Learning Practice

  • 5.2

    Avoid Bias In Ai-Based Decision-Making

    This section emphasizes the ethical considerations necessary to prevent bias in AI-driven HR decision-making.

    Learning Practice

  • 5.3

    Ensure Transparency In How Data Is Collected And Used

    This section emphasizes the ethical considerations in HR analytics, focusing on the importance of transparency in data collection and usage.

    Learning Practice

  • 5.4

    Comply With Regulations Like Gdpr, Hipaa

    This section emphasizes the importance of ethical data usage in HR analytics, focusing on regulations like GDPR and HIPAA.

    Learning Practice

  • 6

    Chapter Summary

    This chapter summarizes the role of HR analytics in making data-driven decisions for effective workforce management.

    Learning Practice

References

Chapter 9_ HR Analytics & Data-Driven Decision Making.pdf

Class Notes

Memorization

What we have learnt

  • HR analytics supports smart...
  • KPIs offer visibility into ...
  • Predictive models help redu...

Revision Tests

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