How Does People Analytics Shape the Business?
AIHR Learning Bite: How Does People Analytics Shape the Business?
As you can already imagine, HR Analytics holds enormous value for organizations, mainly by enabling them to measure the business impact of people policies. In fact, by applying complex statistical analyses, HR Analysis can predict the future of the workforce.
In turn, this enables managers to measure the financial impact of Human Resource practices, which represents the “holy grail” of HR Analytics.
Typically, measuring the impact of HR on bottom-line performance is often done by calculating a Return on Investment (ROI), and is the most powerful way for HR to increase its strategic influence. On top of this, knowing the impact of HR policies will also help HR to become a strategic partner and get rid of its ‘soft’ image by simply taking the guess-work out of HR, and by aligning its strategy with business goals and helping it quantify the value it adds to the business.
Find out more in our in-depth article on HR Analytics.
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