HR Analytics In-Depth: Using Excel tools to Solve HR Analytics at Work
A must-have book for HR professional to explore Excel based analytics
- 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.
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
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