Human resource analytics (HR analytics) is an area in the field of analytics that refers to applying analytic processes to the human resource department of an organization in the hope of improving employee performance and therefore getting a better return on investment. Defour has created module for Human Resource which can help organizations to take proactive actions for making highest Returns on investments.
Typical Challenges in HR function
Retention has become tougher than any time in the past and has become a heightened issue. Companies sometimes need to offer more in terms of benefit packages or incentives, because people increasingly look for jobs that reduce their risks in tough economic times. Employers are advised to identify their key employees from entry-level to upper-level management and take the appropriate steps that are unique to their businesses to retain these individuals.
As companies grow and expand, developing leaders has become a major initiative. Successful companies that work on leadership development will also make strides with better employee retention. Employees repeatedly say that poor leadership as a reason for leaving jobs. They also want a more active leadership role in decisions within their jobs, which may necessitate training.
With the workforce headcount issues sorted, the Human Resources team must next look at productivity levels to ensure that the business is operating efficiently. Where productivity is low, HR needs to know whether the problem is caused by poor working practices or lack of resources. This determination is often made by carrying out a Time and Motion (T&M) study to define who does what and how.
Training is an essential aspect of employee development, both for their own education but also to ensure you continue to get the best from your workforce. Out of total employees it is a challenge to find out which set of employees need what type of training (technical, soft skills, Management, other).
Research has proven that culture influences organizational performance, whether performance is defined in terms of customer satisfaction, attendance, safety, stock price or productivity. Human resources plays an active role in the development of an organizational culture. Great workplaces with a great corporate culture are more financially successful than their peers. Great workplaces have lower employee turnover than their competitors and are able to recruit top talent that fits their culture and needs.
Defour’s HR Solution
Defour has developed an End to End Human resource package for organizations which can be integrated to your current ERP. All the models used are statistically validated. Our Solution has following features.
Defour’s Analytics algorithm
Prediction and Prescription:
Many other observations can be seen using Defour’s HR Analytics module. These models not only predict but provide insights with actions to be taken (Prescriptive Analytics). This HR module can help organizations to take actions proactively so as to maximize the productivity and hence ROI.