The Value of Hr Analytics in Hr Development
Analytical report:
The Value of HR analytics in HR development
Introduction
The following report will begin by analysing the role that Human Resource (HR) analytics and Human Resource Management Systems (HRIMS) must have in order to assist HR in the shift from being an administrative and compliance based focus to becoming a much more strategically focussed and valued business resource. Towards doing this, we will first take a look at the purpose and benefits of HR metrics and then continue to discuss some common issues associated with using this data to effectively convey HR’s contribution in achieving organisational goals. Details on how HRIMS can support measures will be provided and the impact analytics and metrics have on HR Managers and professionals will also be examined.
The report will then discuss the importance and relevance of incorporating HR metrics into the organisations overall business performance measures and highlight how linking them to the profitability and productivity levels of the business is pivotal for HR to attain the recognition it deserves. Finally, Teachers Mutual Bank (TMB) will be used as a practical example in determining the type of information used to measure the effectiveness of Human Resource Development initiatives. The way measures are linked to the organisation’s business performance will be examined in addition, suggestions on how to improve or furthermore expand on these metrics will be discussed.
Role of HR metrics and HRIMS
In order to become a valued resource in an organisation, and ultimately a strategic partner, Human Resources needs to continue to provide relevant and accurate measures that can successfully demonstrate the effectiveness of its human capital whilst at the same time develop close links with all levels of management (HRM, Nankervis et al, pg. 17). By providing clear and appropriate measures of performance HR will be enabled to furthermore display accountability, value and credibility to senior
The Value of HR analytics in HR development
Introduction
The following report will begin by analysing the role that Human Resource (HR) analytics and Human Resource Management Systems (HRIMS) must have in order to assist HR in the shift from being an administrative and compliance based focus to becoming a much more strategically focussed and valued business resource. Towards doing this, we will first take a look at the purpose and benefits of HR metrics and then continue to discuss some common issues associated with using this data to effectively convey HR’s contribution in achieving organisational goals. Details on how HRIMS can support measures will be provided and the impact analytics and metrics have on HR Managers and professionals will also be examined.
The report will then discuss the importance and relevance of incorporating HR metrics into the organisations overall business performance measures and highlight how linking them to the profitability and productivity levels of the business is pivotal for HR to attain the recognition it deserves. Finally, Teachers Mutual Bank (TMB) will be used as a practical example in determining the type of information used to measure the effectiveness of Human Resource Development initiatives. The way measures are linked to the organisation’s business performance will be examined in addition, suggestions on how to improve or furthermore expand on these metrics will be discussed.
Role of HR metrics and HRIMS
In order to become a valued resource in an organisation, and ultimately a strategic partner, Human Resources needs to continue to provide relevant and accurate measures that can successfully demonstrate the effectiveness of its human capital whilst at the same time develop close links with all levels of management (HRM, Nankervis et al, pg. 17). By providing clear and appropriate measures of performance HR will be enabled to furthermore display accountability, value and credibility to senior
References: Australian Human Resource Institute, 2012, Professional Diploma of Human Resources, Unit 4: Workforce Development, Topic 6, AHRI, Melbourne. Boudreau, J.W., 2011, ‘Lessons from the best’, hrmonthly, April 2011, p. 25. De Cieri, H., Kramar, R., Noe, R>A., Hollenbeck, J.R., Gerhart, B., Wright, P.M. 2008, Human Resource Management in Australia: Strategy/ People/ Performance, 3rd edn, McGraw-Hill Irwin, Australia. Ellerby,A., (2009), ‘Through the looking glass’, hrmonthly, June 2009 viewed May 12 2012, Fitz-Enz, J., 1984, How to measure HRM, cited in Nankervis, A.R., Compton, R., Baird, M. 2008, Human Resource Management: Strategies & Processes, 6th edn, Cengage Learning Australia Pty Limited. Nankervis, A.R., Compton, R., Baird, M. 2008, Human Resource Management: Gaining a Competetive Advantage. 6edn, McGraw-Hill Irwin, Australia. Sullivan, 2004, cited in AHRI 2012, Professional Diploma of Human Resources, Unit 4; Workforce Development, Topic 6., p.8, Australian Human Resources Institute, Australia Wilson, P., 2010, ‘people@work/2020: The Future of Work and the Changing Workplace: Challenges and Issues for Australian HR Practitioners’, White Paper, AHRI, viewed May 12 2012,<http://www.ahri.com.au/MMSDocuments/profdevelopment/research/research_papers/fow_white_paper.pdf>