The Human Resource department has a mass of data that links to the mob working in an organization. To manage the swarm, HR metrics dashboards, software, and other relevant tools are used widely. As you all know, the basic job of HR managers is to manage employees’ profiles, benefits, compensation, data, etc. But is there a way to shift such data for future productivity? Is this possible?
Yes, indeed! Through Business Intelligence (BI), organizations can analyze data and know where exactly the value of human capital lies. Its main objective is to utilize the organizations’ resources in the best possible manner. It is used at different HR levels.
Everyone would agree that the HR department has much more work than simply generating salaries and selecting the best candidates. From appraisal data to benefits, everything that comes under HR incurs huge involvement of data. Further, the data must be converted into a useful form to allow for efficient analysis. For instance, data analysis enables you to select the best candidates and motivate effectively. But, the big question arises, how to utilize BI?
The Link between BI and HR Analytics
HR practices are designed in such a way that they require the data to be classified. For HR Analytics, the data needed is often the most confidential necessitating that it be difficult to access at different organizational levels. The new types of business intelligence software overcome this problem by providing flexible security levels. Such solutions are highly sophisticated and enable the users to filter different analyses, which is imperative for sensitive employee data. This benefits not only the HR department but to all other departments that require data analysis.
Workforce Analysis
The workforce analysis is imperative as it draws the essential clues about the future, particularly, the position of company’s employees. In the fast-paced environment, BI takes a key role in adapting, striving and surviving. And, yes, workforce satisfaction leads to less future cost.
BI HR Success
BI links to HR analytics by pinpointing improvements, allowing people to increase profit and compare the benchmarks. With appropriate analysis, regarding leaves, absenteeism, etc., the organization offers fair remuneration based on evaluation along with effective growth.
Major Giants using Business Intelligence
Many big giants such as Microsoft – MS Excel, Office, Power Bi and SharePoint, Sisense, Domo, Logi Analytics are using BI to enhance the level of working and increasing the output.
Tools used to analyze HR Data
I am sure you think that only a handful number of trained people can do data analysis. Well, not anymore! With the introduction to user-friendly applications now, it is much easier to have a grip on data analysis. Further, with HR dashboard metrics, you can have a personalized touch to the data making it more effective. These dashboards offer a clear view of the on-going trends and relevant perspectives. In short, by using BI, it is easy for the companies to face the intense competition to retain the best new talent and motivate others. HR tools, if used effectively, can provide detailed reports regarding the best and worst performers, which makes it easier for the organization to develop the employees that need extra support and training.
BI provides a central role to HR in adapting the ever-changing environment.
To meet organizational goals, it is imperative to make personnel competent in their field. This means workforce optimization at each level is important. By practicing this, HR managers can easily work on the weak areas. Moreover, it also helps in working efficiently from top to bottom level, spending appropriately on future training needs. I strongly support the point that the software plays a crucial role in analyzing the value of human capital in an organization.
Lastly, I would like to conclude with the importance of good communication and effective coordination that can be attained with the help of BI. Relevant decisions can be taken in the absence of decision makers by simply looking at the current analysis.
The use of software has seen a tremendous increase in past few years, making it easy for the organization to reach future goals. The link between Business Intelligence software and HR analytics has seen good results as it creates a synergy in the organization. It is a convenient and an effective way to adapt with the fast changing environment.