What is Predictive HR Analytics?
Predictive HR analytics or predictive workforce analytics is a technology tool that HR uses to analyze past and present data to forecast future results. This can include forecasting employee turnover, predicting which employees might be at risk of leaving the company, or anticipating skills shortages.
Using predictive workforce analytics, HR professionals can make better decisions about how to staff and manage their teams and identify areas where they may need to invest in training and development. Predictive analytics is a powerful tool, but it should always be used with sound judgment and human intuition.
Benefits of Predictive Workforce Analytics
There are many benefits of predictive HR analytics. Here are five of the most important ones:
- Increased accuracy in predicting turnover.
- Helps identify at-risk employees before they leave.
- Improves recruiting efforts by focusing on patients who are more likely to stay with the organization.
- Reduces costs associated with turnover and recruiting.
- Can help improve overall employee engagement and satisfaction levels.
Implement a successful Predictive HR Analytics System
There are a few key things to keep in mind when implementing a predictive HR analytics system:
- Make sure you have access to accurate and up-to-date employee data. This data should include basic information like name, job title, salary, information on performance, attendance, and disciplinary history.
- Use the right tools and algorithms. There are several different predictive workforce analytics software programs available on the market, so be sure to select one suited to your specific needs and capabilities.
- Train your team to use the system effectively. Predictive analytics can be a powerful tool, but only if used correctly.