10 HR Analytics You Should Know Posted on : Jun 25 - 2016

There's no denying that employees are a company's biggest assets. They make the business function, promote it to customers and make it grow. So when a business hires the right people, it is more than capable of reaching its goals. But, how can HR leaders be sure that they've got the right people on board to help expand the business? As it turns out, there are several HR metrics to track that will uncover that answer.

Below are the top ten HR analytics to help you better hire and manage your staff:

1. Absence Analytics

It's no secret that almost all employees will call in sick at some stage. The trouble with absent workers is they have big cost implications for a company. Absenteeism can cause poor customer service and missed deadlines.

Do you know what reasons your workers have given for being absent from work? And, if so, what are the most common ones? Absence analytics give you a handle on sickness patterns, and they also help to identify workers who are absent from work the most.

2. Capability Analytics

You only want the best talent to work for you. But, sometimes you might not know what skills to look for in the people you need to hire.

Capability analytics does two things. First of all, it helps you determine what expertise you need in your business. And, second, it looks at the skills existing employees already have. With that data in mind, you now have the power to learn about any skills gaps between what you need and what you've got.

3. Employee-Performance Analytics

You already know how to identify what skills your business needs from the people that work for you. Another useful HR metric that managers can use is employee-performance analytics. In a nutshell, this refers to the monitoring of each person's individual performance.

These analytics will give you an insight into the employees that perform well and the ones that don't. For those in the latter category, it can help you identify the training and support those staff need. Employee performance analytics give a clearer insight than conventional performance reviews.

4. Employee-Attendance Analytics

So far, you know that absence analytics can give you a firm understanding of when and why your staff calls in sick. It's also important to get a measure of how punctual workers are who do turn up for work each day.

Managers can use employee attendance analytics to review which employees start on time. And, of course, the ones that are always a few minutes late for work! With such valuable data at your disposal, it can help you improve attendance at work.

5. Competency-Acquisition Analytics

Hiring staff with exceptional talent is something that all companies want to do. And when they have such people on board, they don't want to lose them. The thing is, some businesses don't use the best techniques for acquiring such talent.

How good is your company at finding and hiring skilled experts? One way to measure your success rate is with competency acquisition analytics. You might discover that your past strategies may not work today.

By determining how you seek out talent, you can fine-tune your techniques. It might be that you're looking in the wrong places for the staff you need. Or you could be working with the wrong recruiters. Competency acquisition analytics will give you the answers you need.

6. Corporate-Culture Analytics

Each company has a different style or "culture" within it. Your business will seek to promote a particular image of itself. For example, firms like Google promote themselves as young, fresh and forward-thinking. Sometimes the image you want to portray of your company may differ to your actual culture. It's a brilliant way to measure the behavior and unspoken rules people use in your business. And it's vital at detecting toxic culture and eradicating it.

7. Employee-Turnover Analytics

All businesses will have a turnover of staff. There is no real way to avoid that from happening. But, what you can do is find out how fast that happens and work out how to slow the rate down.

As the name suggests, employee-turnover analytics lets you review staff "churn." It can then help you to predict future employee turnover rates. You can also determine the primary motivators behind workers' decision to leave.

8. Management Analytics

It doesn't matter if your company has a staff of five or 50,000. There will be at least one person in charge of employees, whether that's you or someone on your managerial team.

Poor leadership can cost your business time, money and damage your firm's reputation. Management analytics help you examine the various dimensions of your management team. You'll also find out whether certain management styles are a good fit for your business or not.

9. Capacity Analytics

Efficiency is a notoriously difficult thing to get right in any business. There are so many factors that affect efficiency, one of them being your employees. One well-known fact about business is that many companies hire people that, at times, don't seem to do much. Capacity analytics lets you find out how efficient people are at the tasks they are charged with performing.

For example, do they spend too much time on one task and too little time on another? Perhaps they only spend less than 50 percent doing any work at all. What systems could you change to improve efficiency? Capacity analytics enables you to find the answers.

10. Recruitment Analytics

In many ways, recruitment analytics builds upon competency acquisition analytics. But, it focuses more on how you find your talent rather than where you seek it. Some companies are notorious for having ridiculous HR policies when it comes to recruitment. As a result, they seldom end up with a pool of talented people they can shortlist.

If you want to avoid that happening at your business, you need to look at what you're doing. Recruitment analytics also lets you assess what motivates your use of each channel. Source