HR Software Metrics

Now more than ever, HR is looking at hard numbers to make decisions about HCM strategies. This is becoming easier since HR software vendors are incorporating better tools for analysis and reporting into their products. These days it’s possible to measure in detail how a wide spectrum of workforce related decisions impact business outcomes. But evaluating the past in light of the present is just one way to look at the data. It can also be used for predictive purposes. Workforce.com has put together an article outlining how some companies are using workforce metrics for forecasting and planning – the latest strategic implementation of HR technology for employers who want an edge on the competition.


Adequate Staffing Requires Foresight

Predicting the need for and availability of labor is the most obvious type of HR analysis. Recruiters need to understand how a combination of factors such as future growth and potential attrition of key existing employees will impact staffing requirements and capabilities. This makes it possible to create retention and succession strategies targeting positions that are at the highest risk. Appropriate use of predictive HR metrics could also lead to better choices during recessions. Too many employers have found out the hard way that they laid off the wrong people over the last few years. Now, there’s a critical shortage in areas like development and middle management where employees are not easily replaced.

What Could Change for HR?

The emphasis on forecasting may lead to a greater demand for HR statisticians. The ideal candidate would be someone who understands software (like an HRIS analyst) so the best tools are implemented for capturing the right kind of data. This statistician would also have to understand how concepts like employee engagement intersect with hard numbers.

Onboarding is Ripe for Further Analysis

One area that is being studied for its ability to predict turnover is onboarding. According to information compiled by the Aberdeen Group, companies that have a well developed acculturation onboarding strategy fare better than their counterparts in retention of talent. Onboarding software plays an important role in ensuring new hires are fully equipped and engaged. Applications such as our Universal Onboarding and Acculturation Portal provide analytic tools to help HR measure outcomes and identify ways to increase efficiency in onboarding.