Effective Workforce Management using HR Analytics

Abstract

HR Analytics has been widely used in organizations for gathering and interpreting data which has made the management able to take wise decisions regarding their workforce, which constitutes the major part of decision making in the organization. It is a set of statistical tools that enables an HR analyst to come out with imminent data regarding employees and thus take accurate decisions which support the objectives of top management. Analytics helps in analyzing and forecasting data regarding key HR metrics in employee value and performance. The utilization of data to determine ROI in the strategic decisions taken will help in the growth of business. There have been many papers which focus on the conceptual part and acceptance of HR analytics in firms. This paper stresses the basic facts on using HR analytics as a tool for effective workforce management in organizations and considers the opportunities and challenges on the extent of its utility. This study gives theoretical concepts alone based on secondary data collected from leading research papers and opinions of research scholars, company reviews, and various blogs.