What is HR Analytics?

HR analytics is the process of collecting and analyzing Human Resource (HR) data in order to improve an organization’s workforce performance. The process can also be referred to as talent analytics, people analytics, or even workforce analytics.People run businesses and HR has always been about people. Given the rapid digital transformation in the organizations, classic approaches are not sufficient in getting the required result in the long run. Hence the need for data-driven decision making has become essential. HR Analytics also known as people analytics or talent analytics, can play a vital role, helping companies understand employees better and map their behavioral trends. HR Analytics helps HR managers, make data-driven decisions about their employee or the workforce.

HR ANALYTICS MODULES :

1) HR Analytics Practitioner ( Advance Excel)

• Introduction to Analytics and Key Matrices
• Structured Problem Solving using Frameworks
• Statistical Modelling, Understanding the Business Problem
• Data Discovery, Data Collection & Data Preparation
• Hypothesis Formulation and Testing
• Generating Insights Using Descriptive Analytics
• Rank and Percentile, Descriptive Statistics, Histogram
• Inferential Analytics using Analysis Tool Pak
• Sample Testing using Paired t-test, t-test unequal variance
• Introduction to Machine Learning and Predictive Analysis
• Time Series Analysis and Forecasting Techniques
• ROI Analysis using Revenue/Cost Models

2) HR Analytics ( Advance Python)

• Basic Programming in Python
• Understanding Important Libraries in Python
• Machine Learning Techniques using Linear and Logistic Regression
• Types of Data, Data Directory and Validate Data
• Statistics - Univar ate and Bivariate (Numerical and Categorical)
• Data Cleaning, Hypothesis Testing
• Feature Engineering - Variable Creation and Transformation
• Supervised and Unsupervised Learning - Clustering
• Inferential Analysis of Categorical Data using Chi-Square
• Analytics on written Documents using Text Analytics
• Model Simulation and Adjustments

3) Data Visualization ( Tableau/Power BI)

• Connecting to Data
• Level of Detail (LOD)
• What "Good" data Looks like
• Dashboards and Stories
• How tableau pivots on your data
• Hierarchies
• Bins and Distributions
• Calculated Fields
• Data blending and joining
• Trend line
• Clustering
• Filters, including the context filter
• Grouping & Sets
• Using time series charts
• Formatting (colours, fonts etc)

ADVANTAGES OF HR ANALYTICS

• Applied Statistics right from scratch.
• Areas where you can use analytics in Employee Life cycle, Understanding of HR metrics and the converting Metrics to Analytics.
• Simultaneously learn analytics on Excel, R and Python.
• Understand the steps involved in Data Preparation.
• Learn the concepts of Feature Engineering.
• Statistical Model Building.
• Identify a Business Problem.
• Concept of Machine Learning covering Supervised and Unsupervised
• Learning Techniques. More than 20 types of Charts and Plots.
• Predicting Futuristic Insights.

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SCOPE IN HR ANALYTICS :

• HR analytics can help in 80% increase in recruiting efficiency, 25% rise in business productivity and 50% decreases in attrition rate as per McKinsey Research.
• 75% of companies believe in the importance of human resource analytics, according to Deloitte report.
• Over 70% of executives are making strides to integrate data into everyday decision-making processes.

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Salary Package For HR Analyst:

HR Analyst salary in India ranges between ₹ 2.3 Lakhs to ₹ 9.0 Lakhs with an average annual salary of ₹ 4.6 Lakhs.

Conclusion :

 The scope of HR Analytics courses is vast, as they offer students a unique set of skills that are highly valued in today’s job market. The insights gained from HR Analytics can help organizations to improve their HR processes, leading to increased efficiency and effectiveness. HR Analytics courses can also help professionals to advance in their careers and stay up-to-date with the latest trends and best practices in HR. Therefore, individuals who are interested in pursuing a career in HR should consider enrolling in an HR Analytics course to gain the skills and knowledge they need to succeed in this exciting field.