HR Analytics: The Data Science of People training centre in Bangladesh

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HR Analytics: The Data Science of People

Introduction

Analytics is defined as the interpretation of data patterns that aid decision-making and performance improvement. HR analytics is defined as the process of measuring the impact of HR metrics, such as time to hire and retention rate, on business performance. Human resources is a people-oriented function and is so perceived by most people. But for those who think that the HR team’s contributions are limited to extending offer letters and onboarding new hires, human resource analytics (HR analytics) can prove them wrong. When used strategically, analytics can transform how HR operates, giving the team insights and allowing it to actively and meaningfully contribute to the organization’s bottom line.

HR analytics is the data HR teams gather and analyze to understand their company’s workforce. It includes everything from headcount, compensation, job title and function, work location (e.g. in-office or remote), hiring, onboarding, turnover, employee engagement, diversity and inclusion, learning and development, and more. Like a marketer would use data to shape an ad campaign or a company would use analytics to determine where to open a new office, HR teams use HR analytics to:
• Understand their workforce
• Efficiently deploy resources
• Plan for the future

This is especially critical for large companies with thousands of employees and multiple locations. HR analytics can help HR teams monitor employee performance and engagement to reduce turnover and build a more productive workforce. Being proactive, anticipating challenges an organization may face in future and planning solution strategies.

In order to support teachers of universities to understand and incorporate the HR Analytics theories and applications in their course curriculum, we are offering this training where the participants will have the opportunity to learn about the various theories of HR Analytics, with the necessary cases and exercises to start thinking and practicing the applications of the theories to deal with the challenges of modern HR students, who will have to use these theories in their professional lives. The sessions will provide the participants with the techniques to collect the HR data, interpret human resources data using analytics, solve problems and support HR strategies. We will also shed some light on how to develop HR Metrics in order to support the top management to track their HR related data to use in the effectiveness of their organizational goals.

Objective of the Training
- Develop the basic understanding of HR Analytics and relevant theories
- Understand the components and design of HR Analytics dashboards and data collection methods
- Learn how to conduct organizational cost and expense related data analysis with efficient tools
- Generate decision based on data driven evidence rather than opinion and facts
- Define principles of change and maintain the data driven culture of an organization
- Utilize a range of HR assessment tools to improve organizational performance

Methodology

- Power Point Presentation
- Online Lecture / Discussion Sessions
- Case Study/ Business games / Real Life Problem Solving

Contents of Training:

Lesson 01: Overview of HR Analytics, Strategy and HR’s role
• HR Analytics and overview
• Benefits of HR analytics
• Changes in work, functions and organizations
• Strategic HR versus HR Management
• Measuring HR’s contribution to strategy
• Human Capital Approach

Lesson 02: HR Tools and Methods
• Rational problem analysis and models of decision-making
• Measures of HR effectiveness, efficient and productivity
• Methods of data capture and benchmarking
• Employee Self- assessment and self-report measures
• Electronic workforce surveillance & analytics

Lesson 03: Putting HR Analytics in Action
• Human Resource Planning
• Recruitment & Selection Analytics
• Skills analysis and training needs analysis
• The Balanced Scorecard for Performance Management
• Succession Planning & Talent Management
• Employee Turnover and Absenteeism management

Lesson 04: HR Analytics Process
• Linking HR Analytics to overall Organizational Analytics
• Understanding organizational goals
• Identifying the HR metrics alignment with organizational goals
• Collecting and analyzing the data
• Organizing HR data to assess impact on the organization
• Revisiting policies and procedure to make amends

Lesson 05: HR Analytics Cycle
• Building and sensitizing the HR teams
• Create an analytical culture by coaching and monitoring the progress
• Implementing HR Analytics on small projects
• Collaborating and consulting with the functional teams
• Becoming HR Business Partners for Line Managers
• Finalize HR analytics solutions

Lesson 06: Metrics and Analysis to Improve Employee Performance
• Redesigning the Performance Management System
• Measuring Employee Engagement
• Creating KRA, KPA and KPIs
• Employee Empowerment and Accountability

Lesson 7: Challenges of HR Analytics
• Mindset of Management towards HR
• Collected data needs to be properly defined and characterized
• Gathering quality and right amount of data
• No understanding or lack of inclination towards usage of HR Analytical tools
• Insufficient software and tools lead to insufficient and incomplete outcome
• Strategies for overcoming challenges

Lesson 8: Creating a HR Analytics Dashboard
• Understanding the requirements of the management
• Designing Data Collection Tools
• Data management and reporting
• Supporting managerial decision making and problem solving
• The future of HR Departments and HR Analytics

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