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Business analytics in HR: the goal, methods, benefits
Analytics in the field of HR is a fairly broad concept, which includes the collection and processing of data on the basis of business tasks set before the analyst.
The goal of the analytics is to provide an organization with the data that identify the key problems in the work of the company, as well as contribute to the construction of an optimal business strategy.
The goal of the analytics is to provide an organization with the data that identify the key problems in the work of the company, as well as contribute to the construction of an optimal business strategy.
Reasons to set up HR analytics
The ownership of the necessary data on the work of various structures of the company, as well as the collection of information about competitors and the market, is a powerful weapon for a company. By dint of data collected it is possible to increase the work efficiency of entire departments.
So, with the help of analytics you can:
- Analyze employees' skill and salary levels compared with the market level.
Case:
For a company, which was in need of IT department HR research, the Lucky Hunter team:
As a result, the executives gave IT specialists a raise, which led to an increase in the efficiency of the IT department work.
For a company, which was in need of IT department HR research, the Lucky Hunter team:
- interviewed all IT specialists;
- identified key employee's skills and their value on the market;
- provided data on specific companies that needed specialists with a similar skill level.
As a result, the executives gave IT specialists a raise, which led to an increase in the efficiency of the IT department work.
- Identify how the various functions of the departments in the rival companies are implemented
Case:
For an IT company, Lucky Hunter experts conducted a large-scale study of the work of four departments of a rival company: administrative, production scheduling and financial, HR, and accounting department. Our experts identified:
The collected data allowed to implement the elements that the IT company lacked and to boost the productivity of departments.
For an IT company, Lucky Hunter experts conducted a large-scale study of the work of four departments of a rival company: administrative, production scheduling and financial, HR, and accounting department. Our experts identified:
- how many people were working in company departments;
- salary level of department heads.
The collected data allowed to implement the elements that the IT company lacked and to boost the productivity of departments.
- Solve key business issues
Case:
The Lucky Hunter team helped the customer decide in which country and in which city the opening of the new branch office would be the best decision. There were three options to choose from: France, Germany, Spain. In order to solve the issue, we took a fundamental approach. Specialists of our agency:
With the data provided by our team, the company opened an additional office in Spain and secured all guarantees.
The Lucky Hunter team helped the customer decide in which country and in which city the opening of the new branch office would be the best decision. There were three options to choose from: France, Germany, Spain. In order to solve the issue, we took a fundamental approach. Specialists of our agency:
- investigated the tax system in France, Germany and Spain;
- checked for the presence of the necessary for the company candidates;
- found out the cost of office rental in the countries;
- checked the availability of the necessary IT directions in the faculties of universities;
- revealed the level of salary of required IT specialists;
- calculated when the employees could get started in accordance with national legislation.
With the data provided by our team, the company opened an additional office in Spain and secured all guarantees.
- Investigate the IT job marketin different countries
Case:
For a client who needed to hire 50 developers, so that he could successfully open an office in Cyprus, our team:
The provided data showed that it would be very difficult to assemble an IT team in Cyprus without relocation. The client renounced the idea because he was informed in advance about the futility of the project.
For a client who needed to hire 50 developers, so that he could successfully open an office in Cyprus, our team:
- identified the number of IT companies with the necessary technological stack and analyzed how quickly they were expanding;
- analyzed whether it was possible to assemble an IT team without relocation or not;
- revealed the salary level of IT professionals from Cyprus.
The provided data showed that it would be very difficult to assemble an IT team in Cyprus without relocation. The client renounced the idea because he was informed in advance about the futility of the project.
- Efficiently recruit tech staff
Case:
For an IT company, we carried out HR analytics for the positions of Java Developer (Senior / Regular), DevOps (Senior), QA (Senior / Regular), Project Manager (Senior), Web Developer (Senior / Regular NodeJs Full Stack). In just 3 days we:
Thanks to our research, the client determined the accurate salary for future employees and successfully hired specialists in the company.
For an IT company, we carried out HR analytics for the positions of Java Developer (Senior / Regular), DevOps (Senior), QA (Senior / Regular), Project Manager (Senior), Web Developer (Senior / Regular NodeJs Full Stack). In just 3 days we:
- processed several thousand CVs of specialists and vacancies of IT companies;
- identified the lower, median (don't confuse with average values), upper values of wages for the required positions;
- found out whether there was a dependence of salary expectations on the level of English proficiency of specialists;
- investigated the main priorities of IT specialists, as well as the role of remote work in determining salaries;
- determined the level of the gap in wages of specialists from regions and megacities.
Thanks to our research, the client determined the accurate salary for future employees and successfully hired specialists in the company.
These tasks are not the only ones in business analytics (in the HR structure). HR analytics identifies weaknesses in the field of human resources management, increases the efficiency of recruiting within the company, finds insights, provides real personnel statistics.
By applying complex statistical analyses, you can find answers practically to any business issues and optimize the company's work.
By applying complex statistical analyses, you can find answers practically to any business issues and optimize the company's work.
HR analytics methods
The methods that the analyst uses in his work depend on the tasks. In terms of analytics in the context of recruiting these are employee surveys, interviews, testing.
To solve wider issues, specialists not only use the maximum number of channels to collect information but also a number of their own methods.
To solve wider issues, specialists not only use the maximum number of channels to collect information but also a number of their own methods.
Benefits of HR Analytics
HR analytics should not be considered solely in the context of the work of HR departments. Analytics provides essential information about the company, its competitors, the market.
Without processing and collecting data, the company has a high risk of choosing the wrong strategy or exacerbating existing problems. This leads to a decrease in the work efficiency of the entire company.
Without processing and collecting data, the company has a high risk of choosing the wrong strategy or exacerbating existing problems. This leads to a decrease in the work efficiency of the entire company.
HR analytics makes indispensable contribution to the work of the company upon condition of its accurate application. So do not hesitate to contact the professionals to achieve the best results.
If you feel that the salary or skill level of your IT specialists doesn't match the market, you want to check the performance of your HR department or need help in solving business issues within HR, contact the Lucky Hunter team. We will be glad to help you.
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