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The prevalence of data has grown significantly in our personal lives and in the corporate world. Many companies are proactively finding ways to utilize and capitalize on data to drive and improve decision-making, gain competitive advantage, and provide greater value in the marketplace. Why does the average HR department still underutilize data analysis and analytics? Analytical ability is one of the critical skills that HR professionals must have to effectively support their organizations, yet many lack this skill set, significantly reducing their impact and overall effectiveness. Organizations possess tremendous amounts of people-related data that, if analyzed correctly, can add tangible value to the development of HR strategies for better managing our most valuable assets: employees.
- Understand what HR data analytics is and distinguish its three primary categories.
- Review the role of analytics in the HR competency model and its importance to HR strategy development.
- Apply a structured process for initiating an HR data analytics framework, including consideration of HR key performance indicators (KPIs).
- Identify and discuss the relevant drivers that have an impact on HR KPIs.
- Address the common mistakes made during an analytics initiative.
- Link HR analytics to their influence on strategic business outcomes.