What makes an HR a good HR? The ability to understand what can keep a team or organization functioning at its highest potential by determining the lackings and finding ways to overcome them.
And the best strategy that one could follow for this purpose is predictive HR analytics. Predictive analytics can help shape the entire HR industry and allow companies to grow up to their highest potential.
What Is Predictive HR Analytics?
But what does this strategy even refer to? Well, in simple terms, using the data of the past to predict the outcomes of present actions.
Predictive workforce or employee analytics uses the data from previous employee experiences and performances to assume and quantify the performance of current or future employees. This is a strategy used by HRs to keep the workforce stable throughout a company’s lifespan.
How To Use This Tool To Improve Your Company
There are actually several methods in which this tool or strategy can benefit a company. But the 4 most common and effective ones are explained below.
Choose A Culturally Fit Candidate
This one is pretty much a no-brainer. If you analyze previous records you will be able to find which candidates or employees were not culturally fit and what made them unfit. Based on that data, the predictive analytics tool can determine which future candidates/employees would fit the criteria.
Teach The Skill Or Hire The Skilled
A lot of times, companies would lack a particular skill that they need to stay ahead of the competition. And because of that, they fall into the dilemma of whether to teach existing employees the skill or to hire someone who is an expert in that field. Predictive analytics can help you decide that.
Predicting Employee Retention
Let’s face it, no one likes losing a valuable asset. But the harsh truth is, a lot of employees leave a firm after working for about 6 months to a year. Predictive analytics tools can help determine which employees might take off by analyzing their work behavior and employee performance.
Engagement And Productivity Rate
And lastly the above can be determined from the engagement and productivity rate of an employee. The tool can also use the accessible data to calculate these rates to help you make the decisions better.
Where To Learn More About All This?
If you are interested in learning more about this strategy and tool, we at PAFOW have the perfect solution for you, my friend. Learning Labs by PAFOW is one of the most integrated learning platforms on the internet with hundreds of business-related courses to learn, taught by the world’s sharpest minds in their respective fields.
Join Us In Our Endeavor To Spread Knowledge About HR!
So, if you want to learn more about how to use predictive HR analytics to take your company’s growth to the next level, be sure to sign up for Learning Labs. Also, join our community of PAFOW where you can enjoy various special benefits.