We thought it was worth explaining a little more about the employee analytics side of Pearl Metrics, as it is a relatively new work-stream.
In short, HR Analytics. helps organisations forge the link between HR inputs and business outcomes. It can answer questions like:-
Q. What value does my training investment add to my business?
Q. Can I predict when my best performers will leave?
The diagram below illustrates all the areas of an organisation that HR Analytics can influence.
There are many ways that HR Analytics can provide value.
There is the immediate value that you can create by ensuring accurate and robust knowledge is at everyone's finger tips, thereby saving time and allowing faster and more accurate decision making.
Employing timely and accurate HR Analytics will provide direct profit by helping to lower costs and drive up productivity.
And of course, there is the competitive advantage that it affords you. It is estimated that 70% of large organisations now have an HR Analytics team, and this figure is set to rise. Of course, not every company can justify an in-house team, in which case this skill can be brought in externally. But either way, not investing in this growing area of data science, will lose you your competitive edge very quickly.
The CIPD themselves have been promoting the value of HR Analytics. They have formed a research and engagement program to give employers a clearer understanding of the way in which people impact the performance of their organisation.
It’s a collaboration with the CIPD, UKCES, Investors in People, CMI, CIMA and the RSA and is called Welcome to Valuing your Talent.
You can find out more here: