Making Data-Driven Decisions: The 4 Types of HR Analytics
In today's data-driven world, making informed decisions based on evidence is no longer a luxury, it's a necessity. This holds true for all aspects of business, including Human Resource Management. But with the vast amount of data generated by HR processes, it can be overwhelming to know where to start. This is where HR analytics comes in. By applying analytical methods to HR data, organizations can gain valuable insights into their workforce, leading to better decision-making, improved efficiency, and even cost savings. Here are the four main types of HR analytics and how they can empower HR professionals: 1. Descriptive Analytics: Understanding What Happened Think of descriptive analytics as the foundation for all other types. It involves summarizing and describing past data to understand what has happened in the organization. This could include metrics like: · Employee turnover rate: What percentage of employees leave t...