HR Metrics and Workforce Analytics

Introduction

• Increasing interest in HR metrics and workforce analytics in organizations of all sizes
• Factors driving interest:
  • Widespread implementation of integrated HR systems

Definitions

• Metrics:
  • Data/numbers reflecting details about outcomes (e.g., success in recruiting)
• Analytics:
  • Strategies for combining data elements into metrics
  • Examining relationships or changes in metrics
  • Helps managers make informed decisions

Importance of HR Metrics and Analytics

• Comprise an information system
• Impact through helping managers make better decisions
• No ROI unless managers change decisions based on the information
• Wasted effort if decisions are not improved

Reporting HR Analytics Data

• Commonly done through dashboards
• Dashboards:
  • Enriched components of reporting
  • Align real-time analysis of organizational and HR processes
  • Increased capacity to aggregate organizational data
  • Business unit analysis for in-depth examination of metrics
  • Provide a current snapshot of key HR metrics
  • Summarize graphical and tabular information for executives