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HR metrics and analytics make workforces more valuable
This article is part of the Business Information issue of August 2017, Vol. 5, No. 4
Even the most complex enterprise needs metrics and analytics to stay on course and compete in the global marketplace. Of all the parts of a company that can be optimized with analytics, the most valuable asset is the workforce itself. Gathering good data to describe and define employee performance with HR metrics and analytics isn't as simple as deriving metrics from warehousing or marketing campaign performance data. Descriptive analytics can expose subtle traits in employees and define their patterns of success or failure, and predictive analytics can help managers choose the right employees for upcoming team projects. But it's all for naught if the data is bad. Objective vs. subjective measures When it comes to human performance, having a handle on not only what is being measured but how can make a huge difference in the ultimate value of the metric. Management appraisal of employee performance, for example, is necessarily subjective, and that's a good thing -- it's where thoughtful opinion should prevail. But too often, the ...
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Columns in this issue
Data doesn't tell the whole story about employee performance and retention, but more companies plan to use workforce analytics tools to aid their staffing decisions.
Employing metrics and analytics to improve logistics, operations and forecasting is a good first step, but not enough. Your workforce is the most important resource to optimize.
What's a smaller needle in the haystack, finding the best job candidate or discovering what planet hosts intelligent life? A theory on the use of data is argued and debunked.