HR Analytics: Fundamentals and Applications E-Book
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- Herausgeber: Bentham Science Publishers
- Kategorie: Fachliteratur
- Sprache: Englisch
HR Analytics: Fundamentals and Applications provides a comprehensive exploration of the role of HR analytics in modern people management. The book covers critical topics such as the impact of HR analytics on organizational performance, the use of predictive models in recruitment and employee performance, and the benefits and challenges of implementing HR analytics. It offers practical tools, techniques, and strategies to enhance HR decision-making. With a focus on real-world applications, this book is a valuable resource for HR professionals, educators, and anyone interested in leveraging analytics for strategic HR management.
Key Features:
- The role of HR analytics in people management.
- Predictive analytics for recruitment and performance.
- Practical tools and templates for HR analytics.
- Challenges and opportunities of HR analytics
- Future of HR analytics in organizations
- Case studies
Readership:
Ideal for HR professionals, educators, and students seeking to improve their understanding of HR analytics and its applications in the workplace.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 225
Veröffentlichungsjahr: 2024
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FOREWORD
HR analytics sometimes goes by other names like people analytics, talent analytics, workforce analytics, and human capital analytics. It is defined as the analytics of human resources (employees), which includes the entire life cycle of employees, such as hiring, engaging, and ultimately, retention. HR has been undergoing a digital transformation for some time. With so much data, there has been a huge increase in the availability of unnecessary data, too. With so much ample data, it poses a challenge for HR professionals to sort and select the required data. Hence, HR practitioners must be able to read and understand HR analytics to create value for their organizations, as well as to improve their own capabilities. The tools and techniques will make sense of all of this information so one can make better HR business decisions. HR analytics empowers HR managers to be conversant with the idiosyncrasy of teams, which may be built upon people at multi-location workplaces. HR analytics is used for corporate decision making, achieving strategic goals, and sustaining a competitive advantage. The people-related data is procured, analyzed, and interpreted for the purpose of improvement. HRM focuses on supporting employees; people analytics brings science into HR. People analytics allows HR to quantify its efforts and impact in order to encourage better people decisions. It is the revival of people-driven scientific management.
In this foreword, I will focus primarily on the broader trend to think more analytically about almost everything and what that means for HR. This edited book provides a vital tool for HR practitioners to get familiar with the fundamentals of HR analytics, which is now a important for every HR professional. Actually, understanding and applying the data and analyzing it to solve real-life HR challenges is the main skill that has to be developed and enhanced. Today, there is no industry or field that is not using analytics. HR analytics has the potential to play a key role in the transformation process (e.g., choosing and validating selection tools) that helps in decision making, etc. I wholeheartedly recommend this book for all who are grappling with how to capitalize on HR analytics and add greater value, as this book contains contributions by various professionals that make us understand effective HR practices. This book has an easy-to-understand format to illustrate the use of analytics to solve challenging problems that are commonplace in organizations.
PREFACE
This book, “HR Analytics: Fundamentals and Applications”, aims to compile innovative methods and literature related to HR analytics. It throws light on the role of analytics in the human resource industry, portrays the challenges and resistance that are faced in the industry, and determines how HR analytics is transforming and supporting various activities in the field of HR. In recent decades, advances in information technology and systems have reduced the time HR professionals spend on transactional and administrative activities, thereby creating more time and opportunities for transformational activities supporting the realization of strategic organizational objectives.
The content presented in this book offers a variety of methods/techniques that will provide an effective and sustainable solution for analytics, which has turned out to be one of the most gripping and useful tools. Therefore, HR analytics can go a long way toward sensitizing people toward building upon employee relations. It helps to create an employee-centric organization by providing HR professionals the required skills and opportunities to work and adapt to a data-driven environment and make informed and data-backed decisions. The topics covered are – the roles of HR analytics in people management, how various tools and techniques are used in recruitment and selection practices, and also its role in predicting employee performance. Overall, the concepts, advantages, and obstacles of HR analytics are discussed.
This edited book sheds light on upcoming trends, challenges, and future research directions in HR analytics. The editors have explored the topics and the subjects that are impressive and impactful. We hope the exploration of what it takes to successfully launch and grow these capabilities will boost awareness of how HR professionals can lead the charge to change while elevating the function’s status in the eyes of stakeholders.
We would like to express our heartfelt gratitude to our reviewers who have helped despite their hectic schedules. Thank you very much to all our authors for submitting their work. We would like to express our heartfelt gratitude to Bentham Science Publishers for accepting our proposal to edit this book and for their unwavering support throughout the editing process. Thank you to everyone who has contributed, directly or indirectly, to the completion of this edited book.
We believe the efforts we rendered for editing the book are worthwhile only if this book is of any use to the ordinary end-users of our society. This gratification will motivate us to produce more edited publications that will benefit society.
List of Contributors
Role of HR Analytics in People Management: Challenges and Opportunities in the Indian IT/ITeS Space
Freeda Maria Swarna M.1,Shaheed Khan2,*,Panch Ramalingam3,Amarnatha Reddy P.4Abstract
Human capability and capacity are what determine what an organization can do, and thence, managing human resources (HR), or human capital, is one of the most important, if not significant, functions of an organization. Considering the size of the organization, and in a day and age where organizations have thousands of employees that are spread across a wide geographical area, HR analytics comes into play. HR analytics, in a true sense, provides the necessary scientific support to decision-making and process improvement concerning a firm/organization’s HR and the organization in general. The way organizations are growing, and the dynamic role that the HR ecosystem plays makes it pertinent that a robust HR analytics system is in place. With more organizations realizing that qualitative data helps to hire, engage, and retain the right talent, the investment in HR analytics has seen an increase. It is right to say that HR analytics aims to provide insights into how best to manage employees and reach business goals. Because of data availability, it is important for HR teams to identify data relevance and its usage, leading to maximizing return on investment (RoI). The chapter places a perspective on how HR is i) identifying high-performing applicants, ii) supportingthe analysis of pertinent aspects of engagement, iii) identifying high-value career paths and leadership applicants, iv) analyzing strengths of prospective and existing associates, v) ushering in a qualitative and metric oriented performance management system (PMS), and vi) managing/predicting attrition.
INTRODUCTION
Human resources (HR) analytics bridges the gap between HR activities in the corporate world and displays the outcomes that the decision makers receive from the same. With the Information Technology (IT) and Information Technology-enabled Services (ITeS) sector being considered the vibrant and dynamic segments for the innovative working culture, it is by choice that HR analytics plays a role that is unique and important, if not critical, to the HR function and the organization for ensuring decisions to be taken on a real-time basis.
The National Association of Software Companies (NASSCOM) stated that, “investing for growth is the primary focus of the Software business. One must realise that, (i) the forward-looking policies of the sector, (ii) a strong facet of governance, (iii) investment on talent, that is the crux of the industry, and (iv) digital trust, which makes efforts to ensure, privacy, security, and reliability across the spectrum; the IT/ITeS space in India is galloping toward a growth factor of $500 by 2030 (NASSCOM, 2023).” This is an incredible statement by Debjani Ghosh, President (NASSCOM, 2023), NASSCOM (https://nasscom.in), on the IT/ITeS and the way it is growing.
The IT/ITeS business segment, with its vast global delivery model (GDM) and enormous human capital for managing the onsite, offshore, nearshore, and even client locations, provides a huge opportunity for the human resources (HR) department to ensure the best for the organizations. HR engages itself in talent acquisition (TA), talent engagement (TE), talent management (TM), talent transformation (TR), and the various other activities to enable organizations to function smoothly. Sun (2022) put forward data about the totality of IT/ITeS employment for 2009-2022, which was enormous and stood at 4.85 million employees as of 2022 (Fig. 1). This clearly sends a perspective that managing people, the most important facet of the business, must and should be done in a scientific way to ensure that the investment that is done in HR is captured well.
The sheer numbers clearly showcase the need for HR analytics, the metric that has become critical to the HR function. Bersin (2023) mentions the amount of data that is generated on account of the human capital that needs to be managed. Josh Bersin mentions that the single most common expenditure in most companies is people, followed by (i) salaries, (ii) benefits, (iii) real estate, and (iv) the domain of HR. The challenge is how do we manage this expenditure in the best way possible? Thence, the need of the hour is to ‘integrate people data’ (Bersin, 2023). It is here that Bersin (2023) introduces the facet of systemic people analytics (SPA), a new concept and a thought process about HR and the technologies it imbibes.
Fig. (1)) Employment of IT/ITeS industry in India, 2009-2022, Sun (2022).HR ANALYTICS?
For an HR professional or a layman, what is HR analytics? How does it impact the IT/ITeS sector in India? As mentioned by Chanakya Sehgal (Sehgal, 2023
