HR analytics, also called talent or people analytics, is the application of considerable data mining and business analytics techniques to talent data. Analytics that measure performance and efficiencies that matter to HR only. Examples include: time to fill a job requisition, number of people trained, number of people with certain competencies, last year’s attrition, estimated attrition for next year, estimated number of candidates to have in the pipeline based on estimated attrition, which source provides the best candidates, compliance reporting, diversity reporting.
What Are The Benefits of HR Analytics?
The goal of human resources analytics is to provide an organization with insights for effectively managing employees so that business goals can be reached quickly and efficiently. HR analytics does not only deal with gathering data on employee efficiency. Instead, it aims to provide insight into each process by gathering data and then using it to make relevant decisions about how to improve the processes. The challenge of human resources analytics is to identify what data should be captured and how to use the data to model and predict capabilities so the organization gets an optimal return on investment on its human capital.
Cornerstone Analytics offers a suite of people analytics products that apply sophisticated data science and the most refined machine learning system for talent management to help organizations harness the power of real-time talent data and more efficiently and effectively manage their people. The Cornerstone Analytics suite includes, Cornerstone Reporting, Cornerstone View, Cornerstone Insights and Cornerstone Planning.