For most companies, growing the business is their top priority but without proper HR analytics software at their disposal, achieving business growth will not be easy. For any business today, HR analytics can not only help them grow and become more successful but offer many other benefits as well.
Benefits HR analytics software can offer your business
Without comprehensive HR data analytics at your organization, you are not being as successful as you could be. Let’s take a look at a few benefits HR analytics can offer your company.
Talent Acquisition
One major benefit HR analytics software can offer your company is improved talent acquisition. While traditional HR management software is prone to make hiring mistakes, implementing HR data analytics can drastically improve your talent acquisition efforts and eliminate mistakes like hiring unqualified applicants.
Employee Training and Evaluation
Without proper HR analytics software, continually training employees as your systems evolve can be very difficult. Some companies have even stated that their business suffers while they conduct employee training and evaluation efforts without HR data analytics. While there may be multiple ways to train and evaluate employees, having comprehensive HR data analytics at your organization will allow you to determine the best ways to train and evaluate employees that doesn’t cause the business to suffer and even improves employee’s knowledge and performance.
Decision-Making
When you decide to implement HR analytics software at your business, like Oracle HR analytics, you provide your management team with the tools they need to improve their decision-making. From dealing with developing threats from competitors and efficiency issues to effectively reducing costs, and improving customer satisfaction and employee well-being, when you implement comprehensive HR data analytics at your organization, your managers will be able to effectively solve these issues, along with any other business issues that may arise.
Reduced Costs
HR analytics software can provide your organization with many benefits but perhaps the most appealing one to most businesses is the cost savings it can provide. With HR data analytics, you will know how to effectively reduce operating costs across the board and improve your bottom line dramatically. Not only that, but when you implement one of the best HR analytics tools on the market, you can automate your cost modeling process and quickly identify areas where you can reduce costs, without having to dive too far into your data.
Best HR Analytics Tools
Now that we’ve taken a look at just a few benefits HR analytics software can offer your company, let’s take a look at some of the best HR analytics tools on the market your company can begin using today ensure your success.
1. Zoho People
This all-in-one solution helps you manage your HR processes, as well as gives you the analytics you need to gauge performances and make necessary improvements where needed.
2. IBM Kenexa
This HR analytics software is great for both small and medium-sized businesses and can help your organization find and retain quality employees. What makes IBM Kenexa so great is that it allows you to not only focus on what’s going on inside your organization but also helps you plan where your business is headed.
3. Oracle HR Analytics
Since this HR analytics software is part of Oracle’s Business Intelligence Applications, it’s designed to improve analysis when it comes to your customers, suppliers, and your bottom line. What makes this HR analytics software so great is that it can be used across the entire organization and offers a customizable dashboard which allows your managers to easily find exactly what they’re looking for.
4. TrenData
When it comes to measuring HR success, many companies like to keep track of turnover rates to determine this. With People Analytics by TrenData, you can easily keep track of this data, as well as other trends. TrenData not only allows users to track data on its very intuitive interface but also provides training on various platforms making the software very easy to implement.
The HR landscape is changing thanks to HR data analytics and without a proper HR analytics software at your organization, you’re not only losing money and employees, but customers and market share as well.
