#HRData

[market-insider]

HR Analytics: Role of People Analytics in HR Decision-Making

The global HR analytics market size is expected to reach USD 8.59 billion by 2030, growing at a CAGR of 14.8% from 2023 to 2030, according to the new reports of Grand View Research, Inc. The increasing adoption of automation and digitization of HR operations to create agile and effective approaches is expected to drive the market demand over the forecast period. HR analytics enables businesses to assess the impact of people’s policies on their bottom line, as well as detect future trends and develop future skills. Implementing the latest technologies, such as Artificial Intelligence (AI), advanced analytics, and Machine Learning (ML), helps in employee retention and engagement to enhance and improve HR operations, which is expected to drive market growth.

HR Analytics Market Report Highlights

The talent analytics segment will register a CAGR of over 16.9% during the forecast period due to the need for businesses to attract the right talent with the help of technologies, such as AI, ML, and deep learning

The support & maintenance segment is expected to witness a significant CAGR of 17.9% during the forecast period. The demand is expected to rise due to the growing need for timely system patching and security updates

The hosted segment is expected to observe a CAGR of 17.7% during the forecast period.It enables businesses to access data from any connected device at any time, expanding the scope for customization and enabling the implementation of analytical tools across multiple business channels. These advantages will contribute to the segment's growth over the forecast period

The Small & Medium Enterprises (SMEs) segment is expected to observe a CAGR of 16.5% during the forecast period. With the help of HR analytics, SMEs can control their solutions across multiple geographies and manage multiple employees. At the same time, they can build on their existing strengths to enhance employee satisfaction and workplace culture in the long run. These benefits will drive the segment growth

The retail segment is expected to witness a CAGR of 17.3% during the forecast period. Companies in retail are experimenting with new ways to gain remote access to their assets, customers, resources, and required data by utilizing various IT services. This has undoubtedly increased the rate of adoption of HR analytics solutions

Asia Pacific is expected to witness significant growth of a CAGR of 16.8% during the forecast period. A rise in the number of automation initiatives being conducted to improve organizational productivity and the presence of a skilled & large labor force is estimated to drive the regional market

For More Details or Sample Copy please visit link @: HR Analytics Market Report

HR analytics solutions can handle tremendous amounts of data, and it helps organizations to achieve an efficient recruiting process. Organizations can leverage advanced analytics to improve scouting talent, performance improvement recruiting, boosting employee happiness, training, hiring, onboarding, attrition, employee demographics, and retention. Better analytical capabilities emerge from more data collection, and predictive analytics technology enables synchronous and real-time intervention, which is why businesses use analytics tools. They can shorten the time it takes for recruiters to review and sort through many resumes. These benefits provided by HR analytics will supplement the market growth during the forecast period.

HR analytics solutions and services ease complex compensation planning, allowing businesses to improve budget allocations and support compensation decisions while adhering to organizational guidelines. Furthermore, organizations all over the world are establishing a digital workplace that allows for flexibility, mobility, and the use of modern communication tools. For instance, in May 2022, IBM Corp. partnered with Ernst & Young Global Ltd. to assist businesses in addressing workforce challenges post-COVID-19 pandemic. Both companies established the Talent Center of Excellence (COE) to develop hybrid cloud-based AI solutions for HR and payroll transformation services.

List of Key Players in the HR Analytics Market

Cegid

Crunchr

GainInsights

IBM Corp.

Infor

MicroStrategy Inc.

Oracle Corp.

Sage Software Solutions Pvt Ltd.

SAP SE

Sisense Inc.

TABLEAU SOFTWARE, LLC.

We have segmented the global HR analytics market based on solution, service, deployment, enterprise size, end-use, and region

[hiremerms]

Did You Know? 21% of HR leaders state concerns about the security of critical data stored on the cloud as a top HR tech challenge. Ensuring your HR data is secure is crucial for effective and trustworthy HR operations. 

Ready to transform your recruitment process while keeping your data safe? Try HireME ATS, an AI tool that streamlines hiring and finds top talent fast! 

Book your 15-day free trial now: https://www.hireme.cloud/contact-us  

[oscar85world]

Leveraging Power BI for Transformative HR Analytics: A Deep Dive into My Latest Dashboard

Photo by RDNE Stock project on Pexels.com Link to the PowerBI dashboard: https://app.powerbi.com/links/G2dDQd7XVy?ctid=727824e9-e832-4dc8-8645-cfa98ed7b547&pbi_source=linkShare In the ever-evolving landscape of human resources, the transition from intuition-based to data-driven decision-making marks a significant leap towards operational excellence. With the advent of tools like Power BI, HR…

[hrtalks-guide]

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91% of top companies have a mentorship program.

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[hrsourcer]

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[maharghaideovate]

HR Analytics: Mastering Data-Driven Decision Making with DY Patil's HR Specialization

With the advent of HR analytics, human resource management is evolving. In a world where data is the primary source of decision-making, any HR professional must be able to comprehend and apply HR analytics.The HR specialization by DY Patil distance learning MBA hence focuses on helping students master this key skill, with an explicit emphasis on data-driven decision-making, predictive analysis, and practical application.

Understanding HR AnalyticsSimplistically explained, human resources analytics in essence involves the use of data in improving the efficiency of human resource processes. For this reason, it changes HR from an activity that has traditionally been all about people into one that is also all about data. HR analytics helps organizations arrive at informed decisions, be it in recruitment, employee development, or talent retention. The key HR metrics will enable organizations to get the correct pattern of manpower utilization and align the HR strategies with business objectives. The DY Patil curriculum for its HR specialization is heavily oriented toward teaching such techniques that shall help the students to conduct and handle the modern challenges of HR effectively.

Data-Driven Decision Making in HRData-driven decision-making perhaps is one of the major features of HR analytics. HR departments in organizations today no longer depend on gut feeling or subjective observation to arrive at decisions. Decisions are based on concrete data. Let's list some of the metrics: Employee turnover rates Time to hire Performance KPIs Employee engagement scores It goes without saying that with such metrics, HR managers are better positioned to understand the dynamics of a workforce and the decisions that best serve an organization's and employees' interests.

Some of the Key HR Analytics Techniques Taught in DY Patil's CurriculumThe DY Patil curriculum in the HR specialization exposes the students to various techniques of HR analytics. These are structured methods of conducting HR analytics and ensure that at the time of graduation, the student is equipped to transform data into action.

Descriptive Analytics: This form of analytics shall help students describe historical trends in the HR metrics such as hiring patterns or engagement levels of employees.

Predictive Analytics: HR needs to forecast future trends, and predictive analytics helps to identify possible challenges. Whether it is employee turnover or finding high-potential employees, this technique empowers HR to be one step ahead of the problem. 

Prescriptive Analytics: Taking it a step further, prescriptive analytics does not only provide insights but recommends certain actions that can possibly be taken. For example, the system could recommend changing benefits or training programs after analyzing employee feedback for better satisfaction.

These techniques enable the HR professional to make informed, data-driven decisions that advance the organization.

HR Analytics Tools and SoftwareDY Patil's HR specialization places ample emphasis on equipping the students with the use of generally used HR analytics tools. While the technical aspects are not prime in nature, the working knowledge of software forms the backbone for the use of analytics. Some of the key/common tools used include:

Excel: This is used for basic data analysis and visualization.

Python: This is used for higher levels of analytics, and manipulation of data.

Tableau for interactive dash boarding.

HR domain-specific applications, such as SAP Success Factors, automate everything related to HR and allow detailed analytics.

Predictive Analytics in Human ResourcesPredictive analytics is one of the key constituents of the HR analytics landscape. It helps the HR professional understand and predict future trends and challenges that will affect an organization so that the organization can prepare itself for the same. For example:

Predicting turnover: Data on employee satisfaction, work-life balance, and engagement help predict which employees are likely to leave so that the company can have ample time for intervention.

Identifying high performers: From the analyses of performance data to growth potential, HR identifies those employees who may emerge as future leaders.

Conclusion

The application of HR analytics is quickly turning into a crucial part of HRM. The goal of the DY Patil Distance MBA in HR specialization is to give students the skills, information, and experience they need to maximize the potential of HR analytics.

In this respect, DY Patil prepares its students for a somewhat clear focus on predictive analysis, decision-making through data, and real-world applications about the future. 

[hrpedia]

Find out how data integration can revolutionize your HR department and get insights into the latest technology that makes it possible!

[99datacd]

[itnewsround-blog]

Talent Navigator Webinar

Talent Navigator Webinar. #talentstrategy #talentmanagement #talentacquisition #HRdata #humanresources

Join us Tuesday, March 19 at 2:30 PM Eastern Time / 11:30 AM Pacific Time to learn how to unleash your total workforce with these trends — Cisco does. Talent scarcity. Growing complexity. Fierce competition. How can you overcome today’s most pressing workforce challenges to create a lasting business impact with your talent strategies?

Join our webinar to learn what your CEO expects from you…

[bigdata4you-blog]

Join the London HR and People Analytics Meetup, as part of our Big Data Week event. Free registration. #HRAnalytics #PeopleAnalyticst #HR #HRdata Organised by @3nStrategy @NigelD27 https://t.co/7jvcuLypcE https://t.co/u0M2R2zpi7 #BigData

[thiruhr]

Tweeted

Did you know that 91% of people say that they are either actively looking or open to a new job? #IHelpPeopleGetJobs #HRData #HRTechConf http://pic.twitter.com/pquuRFgY3R

— Indeed (@indeed) October 10, 2017

[hiqlabs-blog]

Congratulations to hiQ Labs Corporate Council Member McKesson for being featured in The Rise of Adaptive Analytics – Five Principles for Maintaining a Competitive Edge in Workforce Analytics

hiQ Labs Corporate Council member Amit Mohindra of McKesson, was recently featured in a piece called The Rise of Adaptive Analytics.  As the Vice President of  Workforce Intelligence Center for Excellence at McKesson, Mr. Mohindra shares five principles for maintaining a competitive edge in workforce analytics and planning:

   1. Don’t let workforce planning be an island.  By connecting with other analytics groups within the company, you can ensure that there is a large internal labor market for analytics  talent to expand and diversity career options.

   2. Diversity your workforce analytics talent profiles.  Mohindra recommends hiring people with various backgrounds – he’s hired internal talent  from HR, Finance,  Operations and IT, as each person brings a new perspective, skills and relationships to the team.

   3. Create matrix relationships across your organization. Avoid building an ‘ivory tower’ where all of the data and understanding stay with your unit.  Look for ways to build analytics infrastructure in your business units and across other divisions.

   4. Organize for success.  Mohindra believes in a separate of reporting and analytics. At McKesson the basic HR reporting is housed within HR, and the more complicated analysis are escalated to his team.  Their team is organized into three pillars: Analytics, Workforce Planning and Operations & Technology.            

   5. Have an array of tools.  Their team uses many tools including Excel, Stata, SPSS, and as a team they are learning R for its flexibility and positive budget impact (it’s free, compared to SAS)

Contact us for more information about the article. To learn more about our Corporate Councils visit www.hiqlabs.com 

[hrtalks-guide]

How do wellness programs impact employee performance and company culture?

Wellness programs, such as fitness subsidies or meditation classes, promote healthy lifestyles. These programs can reduce healthcare costs and encourage a culture of well-being and engagement in the workplace.

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[hrtalks-guide]

41% of employees consider growth opportunities more important than salary in job satisfaction.

Companies with effective communication practices enjoy 50% lower turnover. Clear communication builds stronger, more loyal teams.

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[hrtalks-guide]

HR Hot Takes of the Day

92% of employees say empathy from their managers improves job satisfaction. Soft skills are key for effective management.

"The Power of Empathy: Why Soft Skills Make Strong Managers"

Did you know? A remarkable 92% of employees feel that empathy from their managers directly boosts job satisfaction. In today’s workplace, soft skills like empathy aren’t just nice-to-have—they’re essential. When leaders connect on a human level, they foster trust, motivation, and resilience, making a real impact on team performance and morale. Discover how cultivating empathy and other soft skills can transform management effectiveness and drive success across your organization.

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1Hrtalks Guide

[itnewsround-blog]

The Complete Guide to HR Data Analytics

The Complete Guide to HR Data Analytics #HRData #Hrdataanalytics #humanresources

Discover 5 Ways Data Can Drive Better Decisions

According to Bersin by Deloitte Research, in 2016, companies experienced a 120% increase in correlating their people to business performance. Merely mining HR data is not enough; organizations must use it to identify insights and drive action in order to solve their toughest business challenges.

Inside, we’ll examine 5 ways HR teams can use…