HGS in the News

How HR Analytics Can Be A Game-Changer In The Banking Industry

Friday, May 25, 2018 | Online

We are witnessing an evolutionary shift in the field of HR analytics in India; for several years the focus of HR teams has been so skewed to get data and sanitize it, that analytics was restricted to reporting of demographic details or simplistic dashboards for several companies. Today, with the increasing investment in systems that govern the capture, tracking and analysis of all sorts of details related to employment as well as employee opinion or engagement related data, open up possibilities for synthesizing data, identifying patterns, exploring correlations, defining trends, arriving at data-based employee insights, which enrich HR teams’ abilities to activate a variety of levers that they’ve always had and begin to create new options for engagement, based on their employee data.

At the basic level the refinement is in driving for quality objective data that can be classified and leveraged in conjunction with other objective data. In the past, factual data like demographics went into an ERP while opinion-based inputs like employee insights or even talent and capability assessments went into a spreadsheet and rarely spoke with other data to create a composite picture. The advent of systems that pull together most of these classes of data have enabled a slew of applications beyond the traditional dashboard reporting that satisfied companies in the past. The demands of being data-based have also spurred a range of HR data analytics roles - in shared service organisations or nuclear HR teams, data specialists, analysts, designers and scientists roles are becoming more commonplace. 

Read the full Article on CXOToday.com