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THE IMPORTANCE OF HR ANALYTICS FOR THE GROWTH OF AN ORGANIZATION

Feb 2, 2020

The global market state being upset with imbalances has led to careful spending habits among organizations. With a large piece of a company’s cost assigned to human resources, the HR departments across corporations are adopting analytics process to implement better decisions. When used strategically, human resource analytics(HR Analytics) can alter how HR operates, giving the team insights, and enabling it to resolutely and meaningfully contribute to the organization’s bottom line.



WHAT IS HR ANALYTICS?

HR data analytics is a well-designed intervention used to generate and assess insights into the workforce, to establish the contribution of every employee towards raising revenue for the organization, diminishing overall costs, adjusting risk factors, as well as fulfilling strategic plans. Due to the proliferation of this knowledge, data-driven higher cognitive process has become a regular element of the many human resources processes.

The application of HR analytics that can result in several strategic and operational advantages to HR are immense. Here are some of the vital benefits that it grants to the HR departments:

  • HR analytics tools are essential for an organization to grasp where its strengths and weaknesses lie. Taking into account that the workforce is the significant driving element of a corporation, understanding the commitment of this workforce, utilizing quantifiable metrics, will assist a corporation with understanding what sort of environment and policies work and what doesn’t.


  • Sentiment and network analysis of anonymized communication between employees can facilitate HR managers to perceive company morale and culture thoroughly. The changing trends indicated by analytics ought to be at the core to create a powerful & robust workplace culture.


  • The data-driven by big data analytics and predictive analytics can help in predicting outcomes and build better relationships between managers and their respective teams, eventually guiding organizational growth and profits.


  • Using employing recruitment analytics can improve the productivity of the recruitment process, scale back time and energy to recognize the candidate quality, and ultimately guide to significant cost savings for the business.


  • Using big data and analytics will provide a resource and a tool to assist formulate that plan and path. It will prevent you from committing similar errors again while keeping you and the corporation legit and accountable by facilitating in making educated decisions.


  • HR analytics is a major tool to identify the retention rate of employees. Its work-frame allows the organization to understand the pattern of why employees leave and why they stay. The explanation may vary from under-performance, compensation, lack of skills to anything.

In the end, HR analytics tools are essential to provide insights into each process by gathering data and then using it to make relevant decisions about how to improve the processes. So, if you are in the market looking for your suitable HR Analytics Software, Wallet HR is your perfect stop. Being recognized as reputable global analytics and advisory firm, for many years Wallet HR has assisted many organizations across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making.

Client Testimonials Across Business Verticals

  • Auto Ancillary Manufacturing

    "We have implemented all the modules of Wallet-HR in our organization. We are very happy to mention that the product works great and the Crystal team implemented the solution at cheetah pace with good understanding. Very commendable job considering the size of our organization. We have integrated attendance devices across our 45 locations to centralised attendance software and integrated to payroll along with other modules. As a result of complete HR automation we were able to save atleast 7% on our turnover year on year. We are extremely delighted to have chosen Crystal HR as our solution provider."

    HR

  • NGO

    "We have 9 companies with almost 4000 employees Over all; managing employee’s records was very difficult. We have chosen wallet-HR after evaluating many products. Now we are using few modules of Wallet-HR, further we are planning to use all modules from this financial year. We are very satisfied with the Wallet-HR software, because of its updated technology, and the time it saves. Wallet-HR gives us accurate results and reports as per our requirements. Good Luck to Crystal team!"

    HR

  • Pharma

    "Wallet HR has been implemented and integrated across all our 9 locations. We have strict FDI guidelines to follow in respect of access control and attendance, which we have tirelessly implemented with the help of Wallet HR suite."

    IT Head

  • Auto Ancillary

    "We have nine factories across different locations in India. Wallet-HR is implemented for managing our entire employee lifecycle. We had huge challenges in managing workforce using attendance devices. Crystal with their proprietary technology was able to provide us a seamless solution. We have been using Wallet HR for 6 years now with excellent backup support from Crystal whenever required."

    HR Head

  • Retail

    "We are amazed by the domain understanding of Crystal and the configuration capabilities of the product. They have been able to provide solution to all our issues without making any customization in the product. It is a great tool that helps to balance the entire process of our organization in an easy manner."

    HR Manager

  • Hospitality

    "Intuitive UI, dynamic functionality and robust technology is what made us choose Wallet HR amongst all other products in the market. Earlier we used to manually amend the attendance data before processing payroll, now everything is automatic, which in multiple ways has reduced the time and effort spent in validating the attendance. That is indeed great."

    IT head

  • Share Registrar

    "We are very impressed by the lightning speed of Wallet-HR’s payroll engine. We have been able to process payroll of around 4000 employees in less than two minutes."

    Functional Manager - HRD

  • Steel Manufacturing

    "Selection of vendor is a tough process in Hyundai. Wallet-HR has been selected by Hyundai software division to implement the solution across all Hyundai subsidiaries. As a first step we have implemented the solution at one of our subsidiaries in Sriperumbudur and we are happy that they have gone live without any fuss. Good job done by Team Crystal."

    HR Manager

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