HR analytics can help a business optimize profits in several ways. Predictive analysis can help spot potential problems before they occur, and prepare for them. Improved HR analysis can improve a management team’s ability to deal with all the issues related to efficient management. Analytics can more effectively track and monitor employee performance, and help managers to identify areas where improvements are needed. Cost modeling allows analysis of all aspects of the employment process, and helps find areas where costs can be reduced. Many HR apps are now available for mobile devices, and allow employees to track and manage their own performance, benefits, and time.
Reflect on these key points:
- 1Every business cares about growth, and analytics are tools that can help achieve growth goals.
- 2Analyzing your business data can predict future decisions or improve the results of those already known to be coming.
- 3Employee performance can be supported in a positive manner with careful attention to analytics.
“Knowing how to effectively reduce operating costs is hugely important if businesses wish to increase their bottom line.”
Read the full story: http://www.saxonsgroup.com.au/blog/human-resources/5-ways-hr-analytics-can-help-business-grow/
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