Being able to analyse and interpret data has a very positive effect on any company as it aids in continuous improvement and decision-making. The concept of People Analytics is related to the collection of key data for improving the management of company departments, but it can still be leveraged further.
That’s why People Analytics becomes a key methodology for Human Resources. What does it consist of exactly, and how can we use it in a hardware company?
What is People Analytics?
People Analytics, also known as HR Analytics, is the analysis of people. It is a method of analysis that relies on data with the purpose of studying the processes involving professionals within a company. Its objective is to help decision-making and introduce improvements for business success.
Therefore, it is a methodology of analysis and study through technology that encompasses all aspects related to Human Resources and company management, such as:
- Task distribution among teams.
- Personnel selection processes.
- Performance evaluation.
- Work environment.
- Employee development.
Human Resources: The strategic department of the company
Moreover, with People Analytics, the Human Resources department achieves significant improvement in people management, both for recruitment and other related processes. As a strategic department within the company, it can optimize functions and time thanks to this methodology.
The importance of People Analytics: Key advantages
A good People Analytics strategy goes beyond simple data collection. Proof of this lies in the following advantages:
- Using technology, integration of different sources of information into a single system is achieved, which greatly assists in data management.
- This strategy facilitates the hiring of profiles and talent retention.
- It improves personnel and department management.
- It enhances the company culture and the sense of belonging.
- On the other hand, it helps reduce employee turnover rate.
- Additionally, it allows for tracking strategic decisions to measure their success.
- Lastly, this methodology can identify areas of improvement and new business opportunities.
Some aspects that can be managed with data analysis
Among other functions, People Analytics can be employed to:
- Measure the ratio of qualified professionals.
- Study the acceptance rate of job offers.
- Analyse the employee turnover rate.
- Examine productivity growth.
- Collect data on absenteeism rates.
The transformation of Human Resources data not only enhances the employee experience but also improves business outcomes.
Finally, we would like to remind you that at IBMH, we are here to assist you with the management of hardware imports from China for furniture and construction purposes for your company. Feel free to contact us whenever you want, and we will provide you with all the details!