Heather Whiteman, Misael Cerpas, and Silvia Barriga explained how you can be a data-driven decision-maker using Human Resources (HR) analytics in your companies. Also, the power of data analysis, how to identify issues, predict results, and solve problems facing organizations today and in the future.
Whiteman introduced the topic by explaining HR analytics refers to the way that we think about using data insights to improve business outcomes and help with decision making in HR and in business and described the strategic value that comes from it and the many things that can be done with it, like understanding employee attrition and planning for future talent needs.
Business leaders are saying that HR analytics is a top priority within companies now. This is a pretty new finding, businesses are now saying that data and analytics is what they want to see from HR teams. ” — Heather Whiteman
Later Misael Cerpas talked about how HR analytics can help understand and solve employee’s attrition. For him, the key is to measure it, so he shares a formula and an example to understand how to do it and explains how to identify the problems to take action and implement solutions that reduce attrition.
How to plan for your future workforce needs? Silvia Barriga shares what is strategic workforce planning and describes how to start by understanding your business strategy, doing research on the competition, understanding the current workforce and talent supply and demand. Later, defining future needs and prioritizing gaps or solutions.
The key thing here for me is, help the business make decisions based on facts and data and just be helpful with it to avoid making decisions on the gut, but making decisions with a mix of both.”— Silvia Barriga
Heather finished their presentation by advising students to keep learning about HR analytics, reading cases, articles and taking courses, because it can be intimidating but it is actually a powerful skill to have as a professional and you don’t have to be good at numbers, you just have to be passionate about it.
Watch their final advice and conclusions on the power of HR analytics!
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Universidad Francisco Marroquín