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Crucial HR KPIs you need to make data-driven decisions

Business Management Daily

These are all questions that measure the effectiveness of your human resources department, and the best way to answer them is by paying attention to essential HR KPIs (key performance indicators). Yet, there’s no shortage of human resources KPIs out there, so how do you know which you should track? How is that?

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What Is Human Resources?

Analytics in HR

What is Human Resources? Human Resources is both a function and a department within an organization. Human Resources also refers to the workforce or people employed in an organization. Human Resources Management (HRM) is a systematic approach to managing the company’s workforce to help meet organizational goals.

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How Synchrony is Using Data to Increase Workplace Diversity

Great Place to Work

25 on the Fortune 100 Best Companies to Work For® List , the answers lie in the data. Perception is not necessarily reality; it really does take looking at the data,” says Michael Matthews, chief diversity, inclusion, and corporate responsibility officer. We use data to assess where we’re at and where we want to go.”.

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Top 15 Tips to Track Payroll Metrics

HR Lineup

These KPIs will serve as benchmarks for measuring the effectiveness and efficiency of your payroll processes. Additionally, automation can save time and resources, allowing payroll professionals to focus on more strategic tasks such as data analysis and reporting.

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Time Logs: Definition, Benefits, and Steps to Keep One in Your Business

Homebase

Time is a priceless, limited resource and, like other valuable resources, it makes sense that you’ll want to keep track of it when running a business. For your business, this would mean keeping track of things like time tracking data to understand how long tasks take. This can be particularly beneficial for remote work settings.

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What is HR Analytics? All You Need to Know to Get Started

Analytics in HR

This has a significant impact on organizational performance , leading to as much as a 25% rise in business productivity, a 50% decrease in attrition rates, and an 80% increase in recruiting efficiency. HR analytics, also referred to as people analytics or workforce analytics, involves gathering, analyzing, and reporting HR data.

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13 HR Analytics Courses Online To Check Out in 2024

Analytics in HR

With a good command of HR analytics and a data-driven mindset, you’re better prepared to navigate today’s business challenges and ready to unlock insights for strategic decision-making, optimizing workforce planning, and enhancing employee engagement and productivity.