My first Magazine HRegatta_Edition 8 | Page 11

The HR & OB Society 3. Xerox – Retention model: This helped Xerox decrease its attrition rate by 20% in a pilot project 4. Airtel – Employee engagement: Using combination of analytics and mobility to understand employee engagement factors 5. PWC – Learning analytics service: Identifying the best training methods which yield the best return on investment Such is the power of HR Analytics that it provides solutions to every domain of HR. It can be embedded to all the processes of employee life cycle and certainly makes things transparent in an organization. Following can be done through HR Analytics for any organization irrespective of their sector – 1. Development of dashboards for talent acquisition, HR operations etc. to keep a real- time track of these processes 2. Compensation & Benefits - To have market analysis of C& B practices, to develop automatic compensation calculator etc. 3. Learning & Development - Demand planning of various training need specific to roles and individuals 4. Manpower planning - Estimation of required workforce through accurate predictions 5. Certain other applications like Attrition analysis, Candidate pulse, vendor analysis etc. The predictive analytics part majorly requires use of different statistical tools and models through software like SPSS, MiniTab etc. Correlations are widely used in predictive analytics to identify relationships between different factors and then different combinations are being used along with it to develop analysis. One of them is Attrition Analysis that involves identifying factors causing employee attrition, linking those factor relationships through correlations and then using approaches like Regression or Weighted Averages to prepare model that can predict on who among your employees are likely to quit their jobs. Isn’t this wonderful that you as an HR manager get this magic of HR analytics that keeps you and your organization ahead of everyone. All this because you take SMART decisions through number crunching, data analysis and effective modelling to keep your employees happy and financial charts into the profit zone. There’s a lot to arrive in the field of HR, but organizations should understand the ways to convert these disruptions into constructive ones. Anirudh Narain SCMHRD Faculty of Management Studies, Delhi 11