Most company executives would argue that their employees are their organization’s most valuable asset. However, how can you capitalize on such a precious resource? The answer is through Human Resource data and analytics. Through HR analytics, you can discover how to most effectively manage your workers so that you can derive success for your organization and its team members.
Because no two employees are the same, HR analytics can help establish a customized employee experience to retain workers more effectively. Whether it be a more challenging role, specialized training, or a unique project that helps drive your employees' engagement, more motivated employees leads to higher productivity in addition to greater retention. Additionally, high levels of engagement help strengthen your organization’s culture by fostering office collaboration and enhancing communication.
High retention rates are more than just an attractive number on paper. According to the Harris Poll, bad hires are pricey, and choosing the wrong employees can cost your business tens of thousands of dollars. Taking advantage of preexisting pieces of data helps your organization save money, resources, and time. Organizational and employee-specific data points such as employment history, past job performance, training efficiency, training expenses, and employee revenue, provide insights that can assist you in determining and delivering the highest-quality applicant to complete your team.
According to McKinsey Global Institute, data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times more likely to be profitable. In a world abundant with data, why not take advantage of such a valuable resource? While turning numbers into insights may seem overwhelming and tedious, that’s where RJ Reliance comes into play. Since 2005 we’ve been helping organizations make sense of their data figures. Interested in discovering how RJ Reliance can transform your human capital? Contact us today - our experts are ready when you are!