HR Analytics http://hr-analytics.in HR Analytics Courses in India Wed, 10 Jan 2018 08:39:20 +0000 en-US hourly 1 https://wordpress.org/?v=3.8.27 5 Must Know Workforce Analytics as an HR Manager http://hr-analytics.in/5-must-know-workforce-analytics-hr-manager/?utm_source=rss&utm_medium=rss&utm_campaign=5-must-know-workforce-analytics-hr-manager http://hr-analytics.in/5-must-know-workforce-analytics-hr-manager/#comments Wed, 10 Jan 2018 08:39:20 +0000 http://hr-analytics.in/?p=86 Workforce analytics – what sounds like a complex technical term is relatively easy and inevitable when you understand its importance and how to leverage its full potential to your benefit. Some of the elite HR analysts out there have implemented workforce analytics in their businesses and have seen results that their competitors couldn’t dream of. […]

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Workforce analytics – what sounds like a complex technical term is relatively easy and inevitable when you understand its importance and how to leverage its full potential to your benefit. Some of the elite HR analysts out there have implemented workforce analytics in their businesses and have seen results that their competitors couldn’t dream of. As an HR manager, you need to be aware of these analytics concepts and theories to pave way for organizational and departmental success and curb any booming concern plaguing your business. Apart from your regular skill as an HR associate and manager, you need to have a special secret skill that you must deploy often to set a difference and an example of your colleagues and organization. If you are one such aspiring HR manager, here are the five crucial workflow analytics you should know.

Descriptive analytics

To understand workforce analytics, you should understand the value of data. Data in any form has priceless pieces of information underneath waiting to be discovered. If you feel the number of resignations in the last three months has increased like no other, you need to have the curiosity and the knowledge of statistics and analytics to understand why, research about it and get the help of data to come at a conclusion. Descriptive analytics does just that. It will tell you the reason for attrition and help you find a pattern, which you can investigate further and get results. This will help you give clarifications on the concerns to your management.

Prescriptive Analytics

But your job as an HR manager doesn’t stop there. One of the other crucial aspects of workforce analytics is resolving the issues are spot through descriptive analytics. As a manager, you should use prescriptive analytics to come up with antidotes for the concerns and solve them as soon as possible. You should know if the reason for attritions is because of managers, poaching, lack of challenging jobs, unequal pay structures or any other factor you cannot think of. Depending on what data tells, you should come up with a remedy.

Predictive Analytics

If you think your job as an HR manager is over with prescriptive analytics, you are wrong. It is time for you to stand out in your organization and come up with predictions for departments in your workplace. The next step in workforce analytics is to use predictive analytics to give insights on what will happen in your organization three months from your current date and what you suggest for optimum performances and fixes. Data-driven predictions are correct 100% of the times and you will understand this as you get more insights from data chunks you work on.

Integrated Solution

One of the best ways to optimize workforce analytics is by having a one-platform solution to integrate all crucial aspects of data you need to do your job. Loss of data can give you misleading or ineffective results, depriving you of the purpose you intended to achieve. So, you need to come up with a solution to integrate multiple data sources into one to work on workforce analytics.

Metrics

If you are expecting optimized performances from your employees, you need to ensure they are rewarded accordingly. It is for you to acknowledge their effort and the lack of it and separate the ones who work from those who don’t. It is only by this way that you can bring in a sense of equality in your workplace and not simply by having a dress code. To get more insights on crucial aspects like this, you need to set up right metrics – the ones that actually matter to both employees and management alike. Only then there can be a bridge between the two – the bridge called contentment at a workplace. As an HR manager, it is on you to bring in job satisfaction with the right metrics and data-driven decisions from the information you uncover from the metrics.

This is just the cream of what we call workforce analytics. The deeper you dive, the more aspects you can work on for efficiency in your workplace. If you can think of any other workforce analytics concept or aspect, share them on your comments.

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How can HR Analytics Boost Talent Management http://hr-analytics.in/can-hr-analytics-boost-talent-management/?utm_source=rss&utm_medium=rss&utm_campaign=can-hr-analytics-boost-talent-management http://hr-analytics.in/can-hr-analytics-boost-talent-management/#comments Sat, 23 Dec 2017 06:53:17 +0000 http://hr-analytics.in/?p=82 One of the biggest challenges in IT is managing people and talent. From an HR perspective, especially, the task becomes all the more complex due to the requirements and needs of people from diverse backgrounds. As an HR professional, you need to keep everyone on the same page and still manage to get things expected […]

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One of the biggest challenges in IT is managing people and talent. From an HR perspective, especially, the task becomes all the more complex due to the requirements and needs of people from diverse backgrounds. As an HR professional, you need to keep everyone on the same page and still manage to get things expected by your company and managers done and further work on optimizing recruitment processes, employee satisfaction, payroll concerns, retrenchment and more.

However, all these daunting tasks are gradually becoming more approachable and doable. After the entry of data analytics in HR processes, the approach has become simpler than ever, proving to be a major advantage for the associates on their everyday work. If you are an HR and still haven’t realized the power of data analytics and how HR analytics can boost talent management, it’s time you wake up. Check out the pros of HR analytics and the advantages it can bring to your workplace.

Better Decision Making Skill

Imagine you’re in a meeting on managing attrition and you have to support your claim. Instead of revealing that your decision is based on your gut instincts, if you can show data and have the insights you have uncovered to back your claim up, won’t that make a huge difference in your organization? This is called informed decision making and works every single time. Data backed decisions are proven to be effective and precise.

Automation

If you have been thinking automations are only for client projects and those involving higher complexities, you’re wrong. As an HR professional, you do some tasks that get repeated on a daily or a weekly basis. Without having an idea on automating it, you would keep doing it for time unknown. When you implement HR analytics in your workflow, you can actually spot areas where you can automate processes and pay more attention to things that need more time and focus.

Employee Feedback

Organizations frequently send out forms or surveys on job satisfaction levels and feedbacks. The employees fill them up and submit them too. However, nobody knows what happens after that. What is supposed to be one of the most crucial organizational process, passes off as a mere eyewash, lowering the trust and credibility of HR and the organization. With HR analytics in place, you can really work on the feedback and get insights on what the actual concerns are, their prioritization, how you can solve them, what is causing them and make way for a better work environment. The best part is that all these can happen rapidly, ensuring the next time you send out feedback forms, you get more precise feedback.

Pay Gap and Management

Appraisals are the times that are most frustrating to both employers and employees alike. It is the time the effort and time put in by the employees gets valued and generally, it doesn’t go as smoothly as planned. It is the time there are cold wars between employees on hike percentages and promotions. The best way to solve this is by bringing in transparency through HR analytics. With data backing every single concern and metrics implemented on the appraisal form, it’s not just the employees who will have clear reasoning on their results but the management for having a better picture on making crucial decisions on pay hikes and promotions as well. With analytics giving you data to the point of the number of hours an employee was at his or her desk to the productivity index, valuating efforts against time and productivity becomes simpler and more genuine.

Better Training and Talent Development

With new technologies seeping in every week, it is crucial for people in your workplace to be at par with industry requirements and constantly exposed to newer skills. This can happen only when you realize there is a need for it in your workplace and more importantly, in a few particular departments. If you see the productivity of a department going down, HR analytics will give you insights on why it is going down and how you can solve it. This will help you decide if more training is needed or an upskill to a more sophisticated technology or cognitive skill is required for optimized performance.

Apart from these, HR analytics can bring in positive changes at psychological levels to actually bring about solutions to concerns you never knew existed. That’s the beauty and power of HR analytics and the sooner you learn how to achieve these, the better it is for your organization and your career. This is the right time to get started with HR analytics. Are you game?

If you want to gain analytics skills as a HR professional, head to the Full Stack HR Analytics program by Jigsaw Academy.

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What​ ​Makes​ ​For​ ​a​ ​Great​ ​HR​ ​Analytics​ ​Course http://hr-analytics.in/what%e2%80%8b-%e2%80%8bmakes%e2%80%8b-%e2%80%8bfor%e2%80%8b-%e2%80%8ba%e2%80%8b-%e2%80%8bgreat%e2%80%8b-%e2%80%8bhr%e2%80%8b-%e2%80%8banalytics%e2%80%8b-%e2%80%8bcourse/?utm_source=rss&utm_medium=rss&utm_campaign=what%25e2%2580%258b-%25e2%2580%258bmakes%25e2%2580%258b-%25e2%2580%258bfor%25e2%2580%258b-%25e2%2580%258ba%25e2%2580%258b-%25e2%2580%258bgreat%25e2%2580%258b-%25e2%2580%258bhr%25e2%2580%258b-%25e2%2580%258banalytics%25e2%2580%258b-%25e2%2580%258bcourse http://hr-analytics.in/what%e2%80%8b-%e2%80%8bmakes%e2%80%8b-%e2%80%8bfor%e2%80%8b-%e2%80%8ba%e2%80%8b-%e2%80%8bgreat%e2%80%8b-%e2%80%8bhr%e2%80%8b-%e2%80%8banalytics%e2%80%8b-%e2%80%8bcourse/#comments Sat, 23 Dec 2017 06:47:31 +0000 http://hr-analytics.in/?p=79 The motto to success in today’s competitive world is very simple – the more you learn, the more you evolve and the more you upskill to trending job roles and requirements, the faster you will succeed in life and career. Generally, you can learn things in life in two different ways. You can either learn […]

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The motto to success in today’s competitive world is very simple – the more you learn, the more you evolve and the more you upskill to trending job roles and requirements, the faster you will succeed in life and career. Generally, you can learn things in life in two different ways. You can either learn from others’ mistakes or make your own, regret and learn valuable lessons months from the moment you take a wrong decision and it is this ability to make the right decision that separates wise from the learned. Today, most of us are under the misconception around HR and its job descriptions. In our country, HR is often believed to have limited scope of growth compared to other departments in the organization.

Well, that is utterly nonsensical. HR is one of the most crucial departments of any organization and the success and failure of business rely on the jobs of HR professionals. Of late, with the implementation of analytics in HR, the value for HR job roles has increased manifold and more companies are looking forward to take in people who can bring about positive impact in the organization through available employee data, patterns and insights out of HR analytics. So if you are into HR and wondering how to grow, you can do it by upskilling to HR analytics. There are several courses and tutorials on HR analytics but only a very few will actually equip you with the skill sets required in the industry. You should look out for the following factors when deciding on the right HR analytics course.

Proper Induction

Analytics is relatively new for most of us. As an average professional, we are either completely into coding and product development or into project management or people management. We have had little access to analytics concepts in our academics and early career path. So the right analytics course should induct you properly to what the course is all about and make you understand the purpose of you learning the course. No matter if you are an engineer, an MBA with specialization in HR, a content writer, a project manager or somebody from a very different background, your HR analytics course should bring everyone on the same page. It should cover the basic concepts required for the industry application of the course and have people then build on advanced concepts. The learning curve should be ideal for the HR analytics course you intend to take.

It should make you job ready

Not all courses make individuals job ready and ready for the industry. A real course should prepare aspirants for the industry and offer them a glimpse of how the industry functions, what it is all about and how it is to be an HR analyst. The right course should bridge the gap between what you learn theoretically and what you do practically at your workplace. A course that makes you wonder what you are doing on your job is futile and extra care should be taken to choose courses that don’t make you job ready. Look for the right courses and study to join the industry right from day one.

Real World Case Studies

Exposure that is practical and real world is perhaps the best exposure HR analytics aspirants can get. Instead of studying scenarios of case studies of companies two decades back, if they can learn and get to understand how HR analytics is shaping today’s progressive companies like Google, Infosys and the likes, it will make them more relatable and pave way for better understanding. It is also relevant to today’s availability of technology, giving them ideas on solving crucial concerns when they are at work through what they have studied. The course that allows you to work on real world data sets and matches your excellence to that of existing talent pool in the industry is the one you need.

The Right Faculty

One of the most crucial factors that make for a good HR analytics course is the faculty that will be teaching you your course. When selecting the right course, look out for industry veterans, who have been pioneers in combining analytics into HR processes and workflows and actually delivered results. This is just to ensure you are on the right hands and that your career is benefited through their experience and expertise. Also check if there are visiting lectures or webinars of prominent HR heads of top companies for added exposure. The right course will have all the diverse aspects of shaping your dream career covered.

The course that has all these four factors taken care of is designed to make you successful in your career. If you can also check out the quality of their course material and insights on who has developed the study materials, it would be an added advantage to your career. Being relatively new, this is the right time to venture into HR analytics and a wise move today can prove beneficial in the years to come. Remember that you cannot stand out by doing what everyone else is doing. Get out there and get started with HR analytics.

If you are looking for a great HR analytics course with all the above criteria, then the Full Stack HR Analytics program by Jigsaw Academy is a good start.

 

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Top 10 Things to Remember When Tracking Your HR Metrics http://hr-analytics.in/top-10-things-remember-tracking-hr-metrics/?utm_source=rss&utm_medium=rss&utm_campaign=top-10-things-remember-tracking-hr-metrics http://hr-analytics.in/top-10-things-remember-tracking-hr-metrics/#comments Sat, 23 Dec 2017 06:40:23 +0000 http://hr-analytics.in/?p=76 Metrics are integral part of any business operation. If there is a process or a workflow in a system and the flow has a series of tasks, there need to be several metrics to identify the efficiency of the process and understand the efficiency of those who contribute and participate in it. Metrics are also […]

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Metrics are integral part of any business operation. If there is a process or a workflow in a system and the flow has a series of tasks, there need to be several metrics to identify the efficiency of the process and understand the efficiency of those who contribute and participate in it. Metrics are also embedded psychologically in our minds. When we dine in a good restaurant for instance, our minds quickly tend to take into consideration the quality of the food, the size of the portion served, cleanliness quotient, service and value for money for the food we ordered. We then come to an overall conclusion on our experience at the hotel and later decide if we should visit the place again or try a different restaurant.

Business operations are similar. And in HR, metrics play an important role. Thanks to the incorporation of analytics in HR processes and data, metrics become all the more crucial as they directly influence the workflow procedure and its consequences. So if you are an HR associate incorporating analytics into your processes, here are the ten prime things to remember when tracking your HR metrics.

Track Absence Rate

Absenteeism is inevitable in organizations and really disrupts the workflow. Though you can consider planned leaves as negligible, unscheduled leaves can kill processes. Tracking the absence rate of an employee not just gives the concerned department an idea on project allocation but also give insights on the attitude of individual employees and recognize a pattern. The data from this metric can be used to take long term decisions and set ground rules and benchmarking standards.

Track Absence Rate per Reporting Manager

Another crucial metric that you should track is the number of employees absent under different reporting managers for a given time period. This helps you refine your data further and understand if frequent absenteeism of an employee is due to his or her attitude or due to the reporting manager.

Track Productivity Quotient

Companies no longer pay for who stays exactly from 9 AM to 5 PM and who does overtime consistently. These conventions are fading off gradually with the onset of work-from-home facilities and remote teams. Tracking the productivity of each employee can help you understand who is actually productive and who is just pretending to be. This can help you come up with an index that can help bridge wage gaps.

Track Overtime Factors

When people work overtime, they tend to turn up either late the next day or not turn up at all. When employees are working overtime consistently for a fixed duration, taking this as a metric can help you uncover insights on their productivity over time and help realize if temporary workforce to support the operational needs are actually required.

Track Employee Training Costs

This is connected directly with retrenchment and the expense incurred by companies in training an employee. When one leaves in a few weeks after training, the cost incurred by the company is significant. The company then has to incur the expenditure again to train another recruit which is also time consuming. Tracking this metric will help you understand if on-the-job training is better than classroom training and come up with alternate remedial measures.

Track Metrics on Efficiency of Training

The more effective your training is, the sooner you can get returns on the costs you incur on training. This is called efficiency of training and is particularly useful in companies where mass recruits happen every month and retrenchments too. This is also related to employee job satisfaction and should be tracked in your HR metrics.

Track Happiness of Your Employees

This is perhaps the most priceless HR metric you can ever track. The root of all things in your workplace, employee happiness increases productivity, morale and ultimately profits of your company. You should track this metric to uncover the seeping in of any office politics, management concerns, personal problems of employees, payscale issues, wage gaps, gender inequality and even commitment levels of employees to their jobs and organization. With this metric, you can bring about 75% of the positive change your organization desperately needs.

Track Resignation Rate

Most people who quit their companies never come back, no matter what their personal conditions are. Resignation rate as a metric can be useful to identify the areas requiring attention such as issues with managers, work pressure, lack of challenging tasks, intimidating teammates, unaccommodating colleagues, payscale concerns, lack of understanding of processes and more. The more you analyze this metric, the more insights you will come up with for each department and your organization as a whole.

Track Resignation of Key Employees

This can be a sub-metric of the previous metric yet a crucial one. To be honest, not all employees are valuable. When some leave, there is minimal or no disruptions in the workflow at all. Problems only crop up when the good ones leave. So you should be considering this metric to analyze why the promising and experienced employees of your organization are leaving. Is it because of better opportunities? Lack of growth? Poor appraisals? The metric could answer all of these and more.

Track Resignation per Manager

This is very much similar to absenteeism per manager and gives comprehensive ideas on why resignation under a particular manager is more when compared to that of others. This metric can be helpful in diverse ways and can fix issues on appraisal meetings, intimidating bosses, too much pressurizing, lack of rewards and recognition and deprival of work credits.

HR analytics is not simple. It is crucial and has the potential to see things an average human mind can never think of. With these metrics, you can definitely start seeing significant changes in your workplace and the more you refine your data and metrics, the better your company will evolve. If you have any other crucial metric in mind, share your thoughts on comments.

If you are looking to upskill your HR career using analytics, then Jigsaw Academy has a great course designed specifically for HR professionals.

 

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How to Make the Most of HR Analytics? http://hr-analytics.in/how-to-make-the-most-of-hr-analytics/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-make-the-most-of-hr-analytics http://hr-analytics.in/how-to-make-the-most-of-hr-analytics/#comments Fri, 03 Feb 2017 06:29:00 +0000 http://hr-analytics.in/?p=70 “Human Resources isn’t a thing we do. It’s the thing that runs our business.” – Steve Wynn, American businessman and billionaire It’s time that organizations realize great skillsets are the key to bigger businesses. Companies now find it fancy to promote contests around “Best place to work” and the popularity of LinkedIn and Employee Relations […]

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“Human Resources isn’t a thing we do. It’s the thing that runs our business.” – Steve Wynn, American businessman and billionaire

It’s time that organizations realize great skillsets are the key to bigger businesses. Companies now find it fancy to promote contests around “Best place to work” and the popularity of LinkedIn and Employee Relations departments have gained a significant amount of importance in the last few years.

And why not, after all, a well-balanced and satisfied employee base reflects in every part of the business. But the bigger question is: Is the HR department really working towards improving the business metrics with data-driven decisions? The upside to doing so is immense and how!

The information collected by the HR department is full of potentially valuable insights. Your company is already wrestling with the papers/spreadsheets doing minimal analytics and here comes the big scope of leveraging these tools. But one pint to keep in mind (for later don’t complain about not having warned about it) is privacy and security.

The importance of Analytics for HR can be proven by doing a small proof of concept, also focussing on the business properties. The mantra is simple: never overanalyze; just let the data guide. It’s high time companies absorb in the fact that HR Analytics in India is gaining momentum. HR departments are realizing the true essence of the data is in solving the problems in their concern areas of attrition rates, hiring practices, and employee retention.

However, there are more opportunities to be explored. To all the Human Resource professionals, it’s time you make a difference by starting your journey in analytics on the valuable data present within your company, thereby targeting growth. Hiring processes are no longer just about the value of the candidate but also to look at past data to help you hire better fits who go hand-in-hand with your company’s needs. Ready to be a data savvy HR?

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Executive Program In Business Analytics By MISB Bocconi http://hr-analytics.in/executive-program-business-analytics-misb-bocconi/?utm_source=rss&utm_medium=rss&utm_campaign=executive-program-business-analytics-misb-bocconi http://hr-analytics.in/executive-program-business-analytics-misb-bocconi/#comments Tue, 20 Jan 2015 12:21:19 +0000 http://hr-analytics.in/?p=66 MISB Bocconi recently announced the launch of their new Executive Program in Business Analytics (EBPA) in partnership with Jigsaw Academy. The program focuses on giving participants an understanding of predictive modeling, data mining, big data analytics, marketing, operations and risk analytics, among other analytics areas. On program completion, participants will be capable of data driven […]

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MISB Bocconi recently announced the launch of their new Executive Program in Business Analytics (EBPA) in partnership with Jigsaw Academy. The program focuses on giving participants an understanding of predictive modeling, data mining, big data analytics, marketing, operations and risk analytics, among other analytics areas. On program completion, participants will be capable of data driven decision making and leadership in industries such as retail, finance, telecommunications, healthcare and manufacturing.

 

 

“The USP of the course is that it includes renowned international faculty from SDA Bocconi in Milan, Italy, together with analytics and Big Data experts from Jigsaw Academy,”

The program involves 120 hours of in-person training to be held over six (6) three-day modules at the MISB Bocconi campus in Powai, Mumbai. In the interim, Jigsaw Academy will also conduct twenty (20) live online classes of three (3) hours each for a total of 60 hours which participants can attend from their home, office or any other convenient location using an Internet connection. In addition to the live online and in-person classes, participants will also have access to over 100 hours of pre-recorded video lectures on data science and Big Data analytics for a period of 12 months.

Learning hours are supplemented by round-the-clock, unrestricted access to the Jigsaw Lab, a cloud-based analytics tool and content library that allows participants to gain hands-on competence with the most in-demand analytics tools and technologies in the industry, including SAS, R and Hadoop. The corresponding data science toolkit is designed to augment participants’ practical exposure to these tools.

To know more about the course; visit -> http://www.jigsawacademy.com/bocconi-business-analytics-program-mumbai/

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Post Graduation in Business Analytics by Great Lakes http://hr-analytics.in/post-graduation-business-analytics-great-lakes/?utm_source=rss&utm_medium=rss&utm_campaign=post-graduation-business-analytics-great-lakes http://hr-analytics.in/post-graduation-business-analytics-great-lakes/#comments Wed, 10 Dec 2014 05:17:43 +0000 http://hr-analytics.in/?p=62 Business Analytics has come to stay as a growth driver for many new generation organizations. Gone are those days when managers will make decisions on the basis of their own guts or by extrapolating macro-economic indicators and their likely impact on individual businesses. Decisions made in the absence of information and data have proven to […]

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Business Analytics has come to stay as a growth driver for many new generation organizations. Gone are those days when managers will make decisions on the basis of their own guts or by extrapolating macro-economic indicators and their likely impact on individual businesses. Decisions made in the absence of information and data have proven to be disastrous for many organizations. With the advent of information technology and geometric rise in the information processing capability of computers, managers are using multiple criteria, algorithms and structured programs to envision future of business and improve profitability of the enterprise.

Great Lakes Institute of Management – Post Graduate Program in Business Analytics is one of the best rated business analytics course in India. Admissions are currently open for the April-May 2015 season.

Download the admission brochure here: http://elearning.greatlakes.edu.in/pgpba/pdf/PGPBA_Brochure_Great%20Lakes.pdf 

 

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Using Big Data to Find In-House Talent http://hr-analytics.in/using-big-data-find-house-talent/?utm_source=rss&utm_medium=rss&utm_campaign=using-big-data-find-house-talent http://hr-analytics.in/using-big-data-find-house-talent/#comments Mon, 05 May 2014 04:40:57 +0000 http://hr-analytics.in/?p=58 Companies are using HR programs that transform the employee profile from neglected nicety into a powerful tool—letting them find skills that don’t match a worker’s job description or even their self-description.   Read the complete article here - http://www.forbes.com/sites/netapp/2014/04/29/big-data-in-hr/

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Companies are using HR programs that transform the employee profile from neglected nicety into a powerful tool—letting them find skills that don’t match a worker’s job description or even their self-description.

 

Read the complete article here - http://www.forbes.com/sites/netapp/2014/04/29/big-data-in-hr/

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How HR Analytics can Transform the Work Place http://hr-analytics.in/hr-analytics-can-transform-work-place/?utm_source=rss&utm_medium=rss&utm_campaign=hr-analytics-can-transform-work-place http://hr-analytics.in/hr-analytics-can-transform-work-place/#comments Mon, 07 Apr 2014 08:01:38 +0000 http://hr-analytics.in/?p=55   Big data also has attracted the attention of human resource managers who now can analyze mountains of structured and unstructured data to answer important questions regarding workforce productivity, the impact of training programs on enterprise performance, predictors of workforce attrition, and how to identify potential leaders.   Read the complete article Here

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Big data also has attracted the attention of human resource managers who now can analyze mountains of structured and unstructured data to answer important questions regarding workforce productivity, the impact of training programs on enterprise performance, predictors of workforce attrition, and how to identify potential leaders.

 

Read the complete article Here

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Predict Attrition in a Company by Help of Analytics http://hr-analytics.in/predict-attrition-by-help-of-analytics/?utm_source=rss&utm_medium=rss&utm_campaign=predict-attrition-by-help-of-analytics http://hr-analytics.in/predict-attrition-by-help-of-analytics/#comments Tue, 04 Mar 2014 04:53:23 +0000 http://hr-analytics.in/?p=51 There’s always a sense of apprehension when someone walks down to the HR desk to put down their papers.  More so if it is a key employee whose loss is going to be a definite setback.  Then people wonder – the upper management, the line manager, the HR department – how it is that they […]

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There’s always a sense of apprehension when someone walks down to the HR desk to put down their papers.  More so if it is a key employee whose loss is going to be a definite setback.  Then people wonder – the upper management, the line manager, the HR department – how it is that they never saw this coming.  There used to be a time when employee retention processes would kick in only after an employee resigned.  The HR department would have to report back to the management on what steps they took to try to make the employee stay.   That is, of course, no longer the case.  Many intelligent HR departments have caught on to the idea of early intervention!

 

Many a time, it might look like an employee’s decision to leave was made on impulse – for more money, growth, or a designation.  Looking at things a little more critically will reveal that a resignation is only the final step to a series of pent up frustrations.  You’re now wondering how it is even possible to track down something as intangible as an employee’s dissatisfaction and desire to move on.  But that’s exactly what analytics can do for you!

 

The loss of an important employee translates to delayed deadlines and lost productivity, as well as lost revenue, and costs for hiring and training a replacement.  Analytics will help you understand not just why employees leave, but also what can be done to prevent them from leaving.  So how exactly can pre-existing data be put to use to prevent and predict employee attrition?

 

Step 1: Understanding what makes employees unhappy: It could be something about break timings, or mapping performance ratings with remuneration and recognition – something small could make an employee unhappy.  You need to be able to recognize that employee churn is dynamic; so the factors that drive employee dissatisfaction could change over time.  Nevertheless, this is what forms the foundation of your analytic model.

 

Step 2: Segregating the available data: Clean and valid data needs to be used to build a predictive analytics model.  Using different statistical techniques such as linear/logistic regression, neural networks, random forests and decision trees, it is possible to make predictions of employees who are prone to leave a company.  These statistical processes involve a lot of steps and sub-steps, such as creating training sets and test sets out of historical employee data.  These days, there are companies that record so much data (both relevant and irrelevant) about their employees that can be put to use for these purposes.  It is indeed an intensive process to bring all of this data under a scanner that will logically put them together, find links and patterns, and eventually predict outcomes.

 

Step 3: Interpreting the outcome: A company might boast of a fancy analytics system.  But what matters the most is that the outcome is comprehensible and usable by HR departments. Analytics models become truly efficient when they are optimally used to understand which employees might leave, and target them with various strategies.

 

Step 4: Integration with employee retention campaigns: After having gone through the previous steps, you should ideally have a dashboard view of the employees who might potentially quit, and their reasons for doing so.  In a world where no employee is indispensable, a company gets to make a choice to try to retain their key performers by preemptively intervening with various incentives.  If some of the employees who show up on the attrition list are those the company is willing to lose, then it can save the time and energy of putting those employees through a retention campaign.

 

At the end of the day, attrition and churn modeling is not about visualizing data; it’s about seeing patterns.  These analytic models don’t randomly pick out a disgruntled employee; rather, they gauge their behavior patterns over time to arrive at plausible results.  A happy customer tracks back to a happy employee, and this system definitely gives you a chance to identify trends and work on ways to keep employees happy!

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