Tuesday, April 23, 2019

HR Analytics Essay Example | Topics and Well Written Essays - 2000 words

HR Analytics - Essay ExampleAnalytics mainly focus on the trend with respect to performance, results, behaviour, growth and development, which further draws focussings attention to specific areas unlike reporting tools that only focus or gather past data and performance. Contemporary businesses and management lay strong emphasis on measurement of all aspects cerebrate to the business and management. Lundgaard (2009) emphasizes the significance of HR analytics in enabling the establishment of HR as a strategic judicatureal function and credits this to the high competition in business environment which is further pressurizing achievement of great performance, productivity and profits for business/organisational sustenance. For this, firstly HR initiatives must be made quantifiable with appropriate measures. Lundgaard (2009) suggests a six-domain framework that identifies six key areas for HR staffing, training/development, appraisal, rewards, organisational governance, and commun ication. Obtaining HR analytics based on these six core areas makes criterion HR function feasible. Application of this framework to HR initiatives still depends upon the quantifiability of these areas, for which Hunter et al (2005) have suggested the Balanced Score Card (BSC) system. First proposed by Kaplan and Norton, this framework allows linking schema to value creating processes. As stated by Kaplan and Norton (1996 p.2), the BSC translates an organisations mission and strategy into a universal set of performance measures that provides the framework for a strategic measurement and management system. The BSC measures organisational performance across quadruple balanced perspectives financial, customers, internal business processes, and learning and growth. It helps in capturing the critical value-creation activities of skilled and motivated employees. All activities that an organisation needs to perform in order to achieve its goal can be categorized check to these perspe ctives, which include categorization of all initiatives by the HR department into these four core areas. The BSC helps in assessing the score business value derived from particular department. To assess the total business value of HR initiatives, they must be made or converted to measurable objectives (Hatry, 2006). For measurement, Lawler and Boudreau (2009) advocate the consumption of efficiency, intensity level and impact for measuring HR create by mental acts, where efficiency refers to resources used by HR programmes much(prenominal) as cost-per-hire forcefulness refers to changes produced by HR programmes such as learning from training and impact refers to business or strategic value created by the programme such as higher sales from better-trained product developers or sales people (p.61). All three, efficiency, effectiveness and impact are equally important to assess the actual weight of any activity/programme. For instance, measuring the monthly/daily sales without me asuring customer rejoicing will be of no use for the business in long run. Similarly, paying out more incentives to staff for over performance without assessing employee satisfaction may or may not yield any improvement in employee satisfaction. Efficiency and effectiveness of HR initiatives can be measured by assigning specific measurable objectives to each initiative. Paladino (2007) punctuate Managing by Objectives (MBO) as an effective tool to enhance organisational efficiency at

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