HR Analytics In-Depth: Using Excel tools to Solve HR Analytics at Work

by Reuben Ray, Subhashini Sharma Tripathi

Length: 210 pages
Edition: 1
Language: English
Publisher: BPB Publications
Publication Date: 2022-05-25
ISBN-10: 9355512074
ISBN-13: 9789355512079
Sales Rank: #3741817 (See Top 100 Books)

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Print Book Look Inside

A must-have book for HR professional to explore Excel based analytics

Key Features

Manage people effectively by exploring performance metrics, attrition and retention strategies.
HR Analytics explained in an easy to follow and crisp methodology for HR aspirants.
Practical examples and solutions with frameworks.
Mark out career growth for resources with learning & development mapping.
Learn various hiring strategies to onboard the right people.
Case studies explored with sample datasets and access for real-time practice.

Description

This book is a start to end guide on all HR processes right from hiring to attrition of the resource. Each chapter is designed with easy to follow explanations and real life scenarios to help HR professionals get an in-depth understanding of HR analytics. You will start with various hiring strategies and identifying the right resource to onboard for your organization. You will then move on to exploring different learning and development plans to enrich the skillset of the resources and chalk out a career plan for them. Different employee engagement strategies are discussed to ensure the employees are active and do not burn out which may result in brain drain.

Performance metrics, which is a key part of employee management, is dealt with in detail to give you more insights into effectively managing and motivating good performers alongside devising improvement plans for the average performers. Compensation, payroll related topics are then explored and the book finally takes you through the final stage, attrition and retention strategies.

The book is an HR Analytics treatise combining 07 chapters and each chapter of this book is dedicated to key people practice problems – starting from hiring and ending with attrition. The chapters are linked as a flow of events in the life of an employee where each practice is interlinked to the forthcoming one along with the previous. A common thread is the competency-linked approach to understand the interlinkages between each practice, its numbers and its further effects elsewhere using analytics.

What you will learn

Mastering Hiring Analytics.
Explore Learning and Development strategies and analytics.
Keep your employee engaged with different Employee Engagement techniques and analytics.
Best practices on managing Employee Performance.
Compensation and Payroll Analytics with case studies.
Attrition Analytics and Retention strategies to engage with top talent.

Who this book is for

This book is aimed at HR practitioners and analysts or anyone who aims to make a career in Human Resources. Prior knowledge of HR or organization behavior would be helpful but not mandatory.

Cover Page
Title Page
Copyright Page
Dedication Page
About the Authors
About the Reviewer
Acknowledgement
Preface
Errata
Table of Contents
1. Factors to Measure in HR Analytics
    Structure
    Objectives
    Five factorial scales of efficiency
    Factors of efficiency for HR analytics practices
    The role of human bias
        Naivety bias
        Entomologist bias
        Confirmation bias
        Projection bias
        Stereotyping bias
    Conclusion
    Key learnings
    Questions
    Analytics — Introduction
        Structure
        Introduction to Analytics
        Process for Analytics
            D—Define Y
                Creating variables in Excel
        O= Organize data
        V= Visualize
            Pie chart
            Column chart
            Line chart
            Scatter plots
            Six new charts in Excel
                Histogram
                Pareto charts
                Box and Whisker Charts
                Treemaps
                Sunburst charts
                Waterfall charts
        A= Analyze
        I = Insight
        Conclusion
        Key terms
2. Hiring
    Structure
    Objectives
    Hiring challenges
    Role of benchmarking in hiring
        Impact of competency-based recruitment
        Shortlisting for values
    Interviewer bias in hiring
        Role Contribution triad: QUALITY | TIME | MONEY
        Analyzing the interviewer bias
    Conclusion
    Key learnings
    Questions
    Case Study - Hiring Through Numbers –Using Hands-On Excel
        Step 1 - (D) Define
        Step 2 - (C) Collect
        Step 3 - (O) Organize
        Step 4 - (V) Visualize
        Step 5 - (A) Analyze (Statistical)
        Step 6 - (I) Insights
        Conclusion
        Key terms
3. Learning and Development
    Structure
    Objectives
    Learning needs identification
    Measuring LNI gaps
        Operational efficiency
        Customer satisfaction
    Standards and measures to determine learning gaps
    Role of content and learning culture in organizations
        Skills as an organizational culture
        Digital exchange and the new approach
    Aligning learning with skill needs
    Conclusion
    Key learnings
    Questions
    Case Study - Learning Needs Identification
        Step 1 - D (Define)
        Step 2 - C (Collect)
        Step 3 - O (Organize)
        Step 4 - V (Visualize)
        Step 5 - A (Analyze)
        Conclusion
        Key terms
4. Employee Engagement
    Structure
    Objectives
    Engagement practices and organizational culture
    Standard practices for an engaged workplace
        Drivers of engagement
    Impact of motivation
    Engagement and values: a cultural relationship
        The impact of values
    Engagement factors and metrics
        Key engagement metrics
    Conclusion
    Key learnings
    Questions
    Case Study - Analytics for Employee Engagement
        Measuring engagement and culture using MS Excel - Business problem, solution, and insights
        Topic - Case Study – Prediction of Employee Engagement
            D - Define the Business Problem
            C - Collect the data and O - Organize the data
            V - Visualize
            A - Analysis - Statistical models
            I - Insights - Recommendations
        Key terms
5. Performance Metrics
    Structure
    Objectives
    Factors of performance
        Making performance an org objective
    The impact of the competency-based approach
    Measuring performance
        How should the rating process be?
        BSC Framework
        Employee scorecard
        The MBO approach
        The role of feedback
        Measuring feedback
    Conclusion
    Key learnings
    Questions
    Case Study - Performance Analytics Measuring and Benchmarking Performance Using MS Excel - Business Problems, Solutions, and Insights
        D - Define the Business Problem
        C - Collect the data and O: Organize the Data
        V - Visualize the data
        A - Analyze the data
        I - Insights
        Conclusion
        Key terms
6. Compensation and HR Analytics
    Structure
    Objectives
    Remuneration elements
        Fixed compensation element
        Performance pay element
        Employee benefits
        Reward programs
    Factors to consider for remuneration
        Market rates
        Job structures
        Pay structures
        Job families
    Creating a Compensation framework
    Compensation policy and analytics
        Compensation analytics
    Conclusion
    Key learnings
    Questions
    Case Study - Compensation and Rewards for a Performance-Driven Outcome
        Measuring and Benchmarking Compensation Using MS Excel - Business Problems, Solutions, and Insights
            D - Define the Business Problem
            C - Collect & O : Organize
            V - Visualize
            A - Analyze
            I - Insight
        Conclusion
        Key Terms
7. Attrition and Retention
    Structure
    Objectives
    Elements of attrition
        Voluntary versus involuntary attrition
        Impact of attrition
    Elements of retention
        Fixing the retention deficits
        When retention is not a mandate
        The learning outlier
    Correlation of coefficients
    Conclusion
    Key learnings
    Questions
    Attrition Management Scorecard
        Case study on attrition scorecard using MS Excel Stat: business problem, solution, and insights
        D—Define the business problem
        C—Collect and O—Organize
        V—Visualize
        A—Analyze (statistical analysis)
        I–Insight
        Conclusion
        Key terms
Index