More impact with digital HR

According to a report by Gartner, nearly 50% of companies surveyed reported that 81% or more of their employees work remotely. This shift in the workforce ecosystem has created new challenges for HR.

Even before the outbreak of the pandemic, analytics, along with digital transformation, has reshaped every aspect of the corporate world, including human resources (HR). Companies are now forced to adopt a more flexible work model to ensure the workforce remains motivated, engaged and productive. The new normal of working from home has triggered a rapid shift in HR management.

According to a report by Gartner, nearly 50% of companies surveyed reported that 81% or more of their employees work from home. This shift in the workforce ecosystem has created new challenges for HR. Over the past year, HR departments have worked aggressively and expeditiously to develop new policies and regulations to ensure employee engagement and safety, develop new metrics to monitor employee productivity, and create innovative practices to help them achieve work-life balance while working remotely. And all of this has been achieved seamlessly by leveraging the benefits of “people analytics.”

The pandemic has provided companies with an extraordinary opportunity to reshape their workplace strategy. By embracing people analytics and digitally transforming HR, companies have taken a big step toward a more collaborative and efficient workplace. A recent study by CEB Analytics found that companies that successfully adopt HR analytics can improve talent outcomes by 9%, which translates to a gross improvement of 4% and savings of $12.8 million for every $1 billion in revenue. It enables HR leaders to make smarter, more strategic, data-driven and targeted decisions in recruiting, retention and employee engagement. Google’s HR team, known as People Operations, has effectively reinvented HR within the company by incorporating People Analytics. The result? High employee retention rates, with employee survey participation rates exceeding 90%. Today, companies have begun to recognize the importance of analytics and digital transformation in people management.

Here’s a look at how people analytics and digital transformation will change human resources management

• Improve recruitment and retention: Using predictive analytics on people data, recruiters can analyze the historical and real-time data sets of potential candidates. This makes it possible to determine whether a candidate is a good fit for a company before hiring, improving the company’s recruitment and retention process.
• Strategic decision making: Analytics and digital transformation enable HR to build flexible teams, facilitate remote work, third-party augmentation, digital processes, and streamline governance so that meaningful insights can be gained to help with strategic decision making.
• Reinventing HR: By integrating digital HR, organizations can accelerate the migration to cloud-hosted HR applications and platforms. By implementing advanced analytics tools and intelligent automation, HR managers can eliminate manual tasks and replace them with paperless processes. Incorporating digital technologies and models into HR will enhance recruitment, learning, performance management and strategic workforce planning capabilities.

It’s abundantly clear that people analytics is the future of human resource management. According to LinkedIn’s Global Talent Trends survey, 73% of HR leaders said that integrating people analytics will be a top priority for their organization over the next five years.

Organizations are proactively seeking HR professionals trained in using advanced HR analytics and digital tools to make data-driven decisions. A Google search shows more than 1,690 lakh open HR analyst jobs in the country. Improving your analytical skills can help you improve your decision-making abilities and enable you to become a future-ready, data-driven HR professional in a dynamic work environment.

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