All-4-HR & Business Solutions
SMEs: WHAT IS THE NUMBERS SAYING?
How important are HRM Analytics to growing your Company? HRM
Analytics is not statistics! Analytics is a mental framework, a logical
progression first and set of statistical tools second. The concept of ALL-4-HR
& Business Solutions is Small Business is BIG BUSINESS! Growing your
company means gauging your workforce for organizational growth. What is the numbers saying? Are you
calculating your workforce?
Five ways of measuring anything in business are cost, time,
quantity, quality and human reaction. Assessing an organization’s success
entails assessing the company’s current position and where the workforce anticipates
it next steps. Measuring time-to-hire is an HRM analytic which assesses the
costs associated with filling a position. Turnover assess the costs associated
with filling a position, including training and development and benefits. Some
analytic processes are on-boarding, performance management, competencies,
leadership development, selection 360 assessments and work-life balance
initiatives.
HRM analytics is the process of scanning, planning,
producing and predicting; utilizing the decision-making process as an art and
not a guessing game. The numbers provides any business with a top competitive
advantage; something that is critical to growing your workforce. The strategic objective to guiding HR
analytics is to irrefutably show your business influence within the organization.
Conducting HR analytics examines and benchmarks the cause and effects of HR
processes. Steps to conducting HR analytics:
Determine critical outcomes Create cross-functional data team Assess outcome measures Analyze data Build program and execute Measure and adjust
It is necessity
to gauge the cost effectiveness or lack thereof customer service functionality
as customers are not receiving orders in a timely manner. Performance
management systems assess whether a job description is effectively guiding the
tasks and duties of the legal secretary meeting the needs of the practice group
that she/he works.
Properly
implementing HR analytics is a key initiative to making HR a calculated
function of the organization.
Keep an eye out
for All-4-HR & Business Solutions HRM analytics webinar coming very soon.
For questions regarding SME HR Analytics, contact April D. Halliburton at all4hrbiz@gmail.com
April D. Halliburton, MBA, BA, President
All-4-HR & Business Solutions
Capella University Organization and Management PhD Candidate
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