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Individual and departmental growth and development can be measured using data analytics. Hypothetical situations, which are especially useful in training programs, test how well knowledge is comprehended and processed.
Fremont, CA: Human resource professionals no longer have to make business decisions based on gut instinct. Instead, they can begin implementing data analytics and, in the process, establish a new set of analytics: people analytics. Human resources is both an art and a science. In the past, just the artistic, intuitive side of HR was valued, but today the scientific, analytic side is being put to work, and it's producing wonderful results.
Here are four ways data analytics is transforming HR management:
It is easy to identify the best salesperson, but it is equally simple to relate performance to gross sales. So, while it's critical to recognize and reward top performers, it's also important to track performance trends and other criteria. For example, you might notice that one salesperson spends more time mentoring new salespeople or focusing on strengthening current business ties rather than spending every minute bringing in new customers.
Determining Raises and Promotions
Pay bonuses and increased responsibilities are standard measures of an employee's worth to the table, although they may not always be the primary drive for your staff. You're less likely to let valued employees who don't seek the spotlight fall through the cracks if you use data analytics in the process of deciding suitable compensation raises and employee responsibilities within the company.
Controlling Attrition, Increasing Retention
You won't have to wonder why specific employees are leaving your company if you look at performance-based analytics. Instead, you'll get a clear understanding of why some acts demotivate or even turn off employees while other programs or plans ignite passion in each employee's heart. Moreover, your analytics may reveal that your issue isn't so much with the ongoing outflow of employees as it is with inept or weak management's poor or unfavorable practices.
Evaluating Employee Engagement
The amount of employee engagement is the key to a high-performing firm. Employee feedback is a fantastic tool to gauge employee engagement. Request feedback (usually anonymously) to encourage your employees to speak up. You now know exactly what your employees are thinking and which concerns need to be addressed, and you've started the conversation by asking for their input.