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The Role Of HR Analytics Software In Providing Business Insights

May 22, 2023



In today’s fast-paced world, many HR professionals need more data-driven information to make the right business decision. Many organizations are in a surge for HR analytics modules in order to optimize the business operation and improve the efficiency and performance of the employees. Wallet HR the best payroll software India helps you to derive all the necessary information in regard with your employee cost based on various workforce parameters. Hence, in this blog, we will briefly look into the role of HR analytics software in providing business insights.

Analyzing The Patterns And Trends

The foremost benefit of using the HR analytics module for your business is that it helps in analyzing the patterns and trends in your employees. For example, with the help of HR analytics the businesses can analyze the employee turnover by identifying the factors related to the same. Hence, it gives the businesses an opportunity to make the necessary changes to the business recruitment process and implement the essential retention strategies to minimize the employee turnover.

Wallet HR software India is the ideal platform to analyze the patterns and trends of the employees such as promotions, cost-count matrix, increments, employee population, new joinees, employee age group analysis, and employee costs.

Hence, in the same way, as an employer you can also track the performance of your employee through our performance management system. It is to be noted the obtained data will help you to identify the pattern such as top performance, and employee work style. Thus, as a result, the employers can develop performance management programs which can help to develop the top performers.

Predicting Future Workforce Needs

Another major benefit of using the HR analytics module is that it allows the employers to forecast the futuristic workforce needs by estimating the data related to the recruitment, offboarding, and employee performance. Hence, as a result the derived data helps the organization to demonstrate predictive models and to determine the number of employees needed for the work and various programs to develop their skills.

Similarly, this information is valuable in planning a workforce which helps the businesses to develop a strategy in the workforce. Our Wallet HR system, one among the top 10 payroll software in India enables the user to display such data in the dashboard which gives a complete overview about the organization.

Evaluating ROI For The Organization

HR analytics module is another great way to evaluate the ROI of the organization. With the help of HR analytics the organization can effectively budget and have the track of spending each dollar. The system which can combine both the finance and HR department can enable both the teams to have a better understanding of the metrics. 

For instance, suppose the analyzed data shows that one of your L&D programs benefits your employee from the bottom line it is ideal to invest in that program and cut down the expenses on other programs. 

Overall, we can conclude that HR analytics plays a crucial role in determining the business-driven solutions. Wallet HR, the best platform for optimizing attendance and leave management, employee performance management, recruitment, exit management, and many more is your right solution to take informed business decisions.

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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