HR analytics is an exciting and fast-growing area of human resources. With the hype of making smart workforce decisions using data, organisations across sectors are leveraging data-driven tools and technologies to digitally transform their organisation, thus resulting in a change in the business landscape today.
As HR analytics emerges as an essential tool for businesses to measure performance, track progress, and make data-driven decisions to meet business outcomes - it is evolving to be more than just measuring traditional HR KPIs for organisations. As the world of work evolves into a "new normal," over 70% of business leaders rank HR analytics as a top priority in their company, according to the HBR study.
HR Analytics is a set of analytical tools leveraged by businesses to measure the performance of their people functions, identify areas for improvement and drive cost efficiency by making processes more efficient and accurate. Apart from increasing business efficiency, it also empowers business and HR leaders to make data-driven decisions that enhance an organisation's ability to attract and retain top talent, thus optimising workplaces and the workforce. Hence, with automation, technology, and bots permeating the world of work, it has become imperative for organisations to leverage these tools and do analysis from the big data sets to optimise and build successful workspaces and workforces today.