Four For Friday: The Differences Between HR Metrics and Analytics
Every Friday, The DDR shines a light on the best data-centric articles and resources from across the internet, social media, and industry.
What are the differences between metrics and analytics in HR and recruiting? It’s a great question and one that troubles many talent acquisition and HR leaders. This question is also one of the many reasons why HR is lagging behind in the adoption and use of analytics.
The differences between HR metrics and analytics, and some ways they can be used to help organizations, are explored more in this week’s Four For Friday.
7 Rules to Remember with HR Metrics, Analytics and Data (HR Bartender)
Sharlyn Lauby, a.k.a. the HR Bartender, explains that metrics, analytics and data are all different. She provides the following definitions:
- Metrics are focused on tracking past performance.
- Analytics is about using past data to generate predictions or insights.
- Data are statistics collected for use in analytics. The term big data refers to data sets that are too large and complex to manipulate with standard tools.
When it comes to these terms in HR, Sharlyn says that, “The reply “I’m not a numbers person” isn’t acceptable – for any profession.” She then provides 7 rules for dealing with HR metrics, analytics and data:
- Define the metrics of success
- Establish targets, including acceptable ranges
- Capturing data versus using data
- There will be exceptions
- Create a dashboard
- Look for patterns, trends, and relationships in the data
- Take action
How Data Is Being Used To Boost Recruitment And Retention (Tony Restell)
“For anyone working in human resources or recruiting, ever greater use of data promises a revolution in the way decisions are made. Recruitment and retention of top talent differentiates a company from its competitors. The days of gut decisions and interviewer bias are numbered, to be replaced by evidence-based decision making,” says Tony Restell, Founder of Social-Hire.com. Tony goes on to explain the benefits of using data in recruiting as well as how recruiters are currently using the data at their disposal. He also provides a list of recruiting processes that are affected by big data analytics:
- Vacancy marketing
- Employer branding
- Filtering of prospective candidates
- Planning interview questions
- Talent development
- Who to retain and promote
HR Analytics: Rise of the Machines in HR (The Financial Express)
“HR analytics is defined as an approach to utilize human resource data maintained by the organization to measure the direct or indirect impact of HR campaigns on important business outcomes.” The author, Rishi Bhatnagar, explains that HR leaders generally take a shot in the dark when it comes to important HR decisions. However, the use of HR analytics can help make better and more educated decisions. How can HR successfully activate HR analytics? Find out in this article from Financial Express.
Get Onboard the HR Analytics Movement (Brandon Hall Group)
Human capital costs make up almost 60% of all corporate variable costs. It makes sense then that most organizations want to enable better reporting and analytics of HR data. Laci Loew, VP and Principal Ananlyst, Talent Management at Brandon Hall Group, explains the many benefits of analytics and metrics in HR. She says that a clear distinction exists between metrics and analytics:
- Metrics are the building blocks to analytics.
- Analytics is the computational and statistical analysis of multiple data points that predict answers to compelling business challenges.
Learn more about HR metrics and analytics, including tips on how to move forward with them.
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