Human Capital analytics deliver insights that can be learned from and acted upon. Trends, patterns, data anomalies, and other employee information enable the company to make more informed decisions more quickly. Whether standalone or part of a broader, integrated software suite, HR analytics put actionable reports into the hands of the decision makers by measuring and analyzing the human capital investment. While numerous benefits have been presented, few organizations have truly embraced the data-centric solutions of human capital analytics. Here we review strategies, best practices and market research, in selecting and deploying human capital analytics software solutions.
Human Capital Analytics Systems
HR analytics tools are typically part of broader business intelligence (BI) software suites, which may consist of data warehouses, data mining applications and online analytical processing (OLAP). These BI tools aggregate, model and disseminate high volumes of staff related transactions and activities in visual, easy to understand views so that business leaders can learn from the information and take action.
Visier's Workforce Analytics provides an enterprise class workforce planning software solution. Offering an alternative to spreadsheets and tabular formats, the company provides a cloud-based intuitive application that can compete well in terms of data visualization and delivery of information insight. Yet their presence is small and could limit the company's progress if not dealt with properly.
Human Capital Analytics involve every department and every person in an organization if done correctly and strategically. Because of this, implementing strategic software solutions is made all the more difficult because multiple stakeholder groups need to have a say in what the solution needs to accomplish; how the solution will be used; and which solution will be selected. This guide serves as the most effective way to navigate these waters by way of step-by-step instructions for stakeholder, needs, and vendor analyses.
HR data is only as good as the methods used to share and analyze it. Leading HR departments are using Human Capital Analytics software to discover trends, identify issues, and increase confidence in workforce investments. Learn what the buzz is about, where companies are in their adoption phases, and what you need to get started.
The goal of Human Capital Analytics (HCA) is solid, data-founded forecasting that can be used to drive sophisticated and strategic decision-making. When it comes to HCA software adoption, it is important for organizations to start realistically with their eye on the contribution that HR can make to the business. Here is HR Lab's list of adoption tips and 5 HR metrics to deliver quick value.
The Society for Human Resource Management (SHRM) has created a firestorm of late by attempting to address the issue of standardizing HR metrics. At issue is the focus on investor relations; the lack of uniform guidelines for HCM analytics; and the divergent ideas of how human resource measures should be defined, calculated, and communicated.
Human capital analytics software requires sophisticated and intelligent use if it is to generate its full potential benefits. This article (the first of two parts) draws on Accenture research in the field of HR analytics; identifying key organizational enablers such as multi-step approach models and diverse data sources for analytics success.
Human capital analytics software can only be fully leveraged in the right organizational environment. This article (the second of two parts) draws upon research in the field of HR analytics to highlight key issues such as talent deployment models and talent management typologies that are necessary for human capital analytics software success.
The acquisition of talent assessment and big data leader SHL by the Corporate Executive Board (CEB) sheds some serious light on the increasing role that data and HR analytics is playing in the HCM software space. Here we take a look at what we’ve identified as the 4 major areas of interest with this latest M&A activity: Valuation, Trends, Big Data, and Benchmarking.