HR analytics has helped many businesses get aligned on overall strategy and help them set better goals for their hiring and company culture. HR analytics has been instrumental in modern business, not just for automating processes and helping businesses capture and analyze more relevant data, but it has helped businesses better understand how their business works together and allowed for business units to operate more holistically.
SAP is a software company that is a “market leader in enterprise application software [and at] the center of today’s business and technology revolution.” They are a leader in analytics technology and have made an impact as a provider of HR analytics programming.
What is SAP HR analytics and what can it for your business?
Here are some of the ways that their corporate software packages are helping businesses.
1. Competitive advantage
SAP tech can not only help you find the best hires for your business, but it can help you build a better overall HR strategy that gives you an edge over your competition. By analyzing trends not only for your organization, but also your industry, HR analytics can see past trends and predict future trends, giving you the insight you need for knowing how to plan not just for this year or the next year, but five-to-ten years down the line into the company’s future.
It can help your business know that not only are you filling positions with skilled people faster, but you are also using data to assess the likelihood that they can handle certain challenges and think creatively and decisively – both crucial factors in being an agile and future-proof member of any team. Plus, using modern methods of hiring and retaining talent already helps set you apart from businesses who may be slower to embrace the potential of HR analytics technology.
2. Cost savings
There are many ways that SAP HR analytics can help your organization save money. First, it helps automate your recruiting process, giving your HR teams hours of their days back to work on other projects. It helps you identify better business fits when hiring, so you’re not wasting money on getting candidates up to speed past the necessary onboarding or losing candidates in turnover, only to start the recruitment process over again.
It can help you identify internal candidates that may be better utilized in other roles, raising productivity and ROI for your organization. HR analytics can even help some businesses identify potential compliance or regulatory issues and help prevent them from becoming expensive problems.
3. Better communication and better decisions
As noted previously, one of the most significant benefits of HR analytics is that it can help the organization work more holistically. Data about employee skills can lead to more training, which can improve productivity, which can lead to better sales or stronger marketing strategies.
HR is no longer a siloed department – successful businesses know that their people, and the department that recruits and retains them, are crucial to not just their day to day operations, but to strategic growth and innovative developments. HR analytics helps identify the ways that employees can contribute to the business earlier and lets business leadership use them in the best way to support their overall mission.
Human resources in business is an integral part of the overall company, and HR analytics is helping businesses move HR into a more strategic role that can help support growth and plan for company goals. SAP is an excellent resource for businesses who need a powerful partner for their workforce analytics. Their solutions can help businesses better understand the gaps in their people planning and bring about a more holistic approach to business that is essential in the present and in the future.