How Metrics Are Changing HR Functions | KnowledgeCity

This video is from the Statistics, Metrics, and Analytics for HR Managers online training course. Click here to view full course: https://www.knowledgecity.com/en/libr... Let's discuss how HR is changing based on analytics and metrics. Since about 1901, HR professionals have been expected to manage key aspects of employment, like safety and compensation. Historically, many of our duties were seen as transactional because our main tasks were to keep records and ensure the proper procedures were followed. Today, we follow similar standardized processes to track benefits, workplace complaints, and employee compliance. But we also handle more strategic work like talent planning, succession planning, and layoffs. We use HR metrics to determine how productive our teams have been. We collect data to support our choices, and that data can help us appeal to business leaders who prioritize business logic, which is concerned mainly with how the data relates to the company's larger goals. As our society's values change, so do our industry standards. Newer technology makes it easier to keep statistics and analytics precise. With record keeping software like HR Information Systems, or HRIS and Enterprise Management Systems, we can track complex operations and create standardized reports. These systems also offer the chance to customize reports so we can have the exact information for our circumstances. Many of us are also proficient at storing data with other programs like Microsoft Excel or Google Sheets. These can be great for presenting information to our teams. Our tools continue to help us track and manage metrics so we can report information to organizations like unions, the Equal Employment Opportunity Commission, and the Occupational Safety and Health Administration. In the early days of HR, our jobs were more focused on simply having access to data. Today, manipulating and interpreting the data we are given takes our roles from transactional to strategic. The future of HR may require us to produce even more information so we can make stronger choices. For example, to collect information, we might work more closely with all the departments in our organization to help us ask more effective questions. Instead of just measuring cost to hire, we might also measure cost a good Hire as advised by Ben Yorcheck, the president of an analytics company called Noclick, let's discuss why we use statistics and metrics. As we support our teams with metrics and statistics, we can analyze it to understand how well our organization is doing. They help us determine if our company is successful at achieving its goals and why. The better we are at using metrics and statistics, the easier it is to become strong business partners with all of our departments. Let's take a closer look at how this works. There are plenty of benefits to using statistical metrics. Managing information is key because it allows us to meet our demands of our roles. For example, when we measure aspects of employment like employee satisfaction, engagement, and well being, we can report how effectively our organization handles human capital, which is the most valuable asset in any organization. Researching absenteeism rates, for instance, can tell us who might be taking too much time off. And when our employees are present, we use this to help people plan their schedules. We also keep track of our workforce statistics to help us understand our organization and to report to government agencies and officials, which can allow us to increase compliance risks. The way we use metrics has been changing HR functions to help us offer our organizations wellresearched options on current issues. HR metrics and data analytics will continue to evolve through technology, and this brings us the opportunity to learn the best practices for managing information.

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