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MBA 701A - Capstone Project 1 Final Report Topic - HR Analytics
MBA 701A - Capstone Project 1 Final Report Topic - HR Analytics
Final Report
Topic – HR Analytics
Submitted To Submitted By
Prof. RRK Sharma Prakhar Dikshit
DIME, IIT Kanpur 19125028
MBA 2nd Year
1
Acknowledgement
I would like to express my special thanks of gratitude to my guide Prof. RRK Sharma who
gave me the golden opportunity to do this wonderful project on the topic HR Analytics,
which also helped me in doing a lot of Research and I came to know about so many new
things.
Secondly, I would also like to thank the Capstone Committee and MBA Dept. of IIT
Kanpur who helped me a lot in finalizing this project within the limited time frame.
I am grateful to all those who have helped me to put these ideas, well above the level of
simplicity and into something concrete.
Thanking you,
Prakhar Dikshit
19125028
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INDEX
S. No. Topic Page Number
1 HR ANALYTICS - A STRATEGIC APPROACH TO HR
4
EFFECTIVENESS
2 THE ROLE OF HR ANALYTICS IN HIGHER EDUCATION
5
INSTITUTION
3 Role of Analytics in Renovating Human Resource Management 6
4 HR ANALYTICS AND ITS MODERATING FACTORS 7
5 Human Resource Analytics Latest Development in Business
8
Organizations
6 UNDERSTANDING THE ADOPTION OF HR ANALYTICS IN
9
INDIAN CORPORATIONS
7 PREDICTIVE HR ANALYTICS AND HUMAN RESOURCE 10
MANAGEMENT
8 THE ROLE, RELEVANCE AND FUTURE OF HR ANALYTICS AS
11
AN ENABLING HRM TECHNIQUES
9 People analytics—A scoping review of conceptual boundaries and
12
value propositions
10 Overview of HR Analytics to maximize Human capital investment 13
11 HR Analytics and Organizational Effectiveness 14
12 Human Resource Analytics- Discovering Research Issues Posited in its
15
Milleu in India Organization Human Resource Analytics (HRA)
13 Workforce Analytics: Increasing Managerial Efficiency in Human
16
Resource
14 HR Analytics: A Literature Review and New Conceptual Model 17
15 The Impact of HR Analytics on the Training and Development
18
Strategy
16 Human Capital Analytics: A Game Changer for HR Professionals 19
17 The Role HR Analytics, Performance Pay and HR Involvement in
20
influencing Job Satisfaction and Firm Performance
18 ETHICAL DILEMMAS IN HR ANALYTICS - Perspectives from the
21
global workforce
3
HR ANALYTICS - A STRATEGIC APPROACH TO HR EFFECTIVENESS
Final Learning
To play a more relevant and strategic role in the organization, the HR function needs to
move beyond mere reporting to accurate prediction. Instead of just generating reactive
reports, it needs to embrace advanced analytics and predictive techniques that support
strategic organizational goals. Application of predictive analytics in HR entails utilizing
relevant data to solve specific business problems. The insights derived can help improve
business performance as well as employee engagement and satisfaction.
4
THE ROLE OF HR ANALYTICS IN HIGHER EDUCATION INSTITUTION
Managerial Implications
1) Understanding the analytical frame work and especially human resource domain
can have a significant mark in the institutional growth.
2) As the human capital in these organizations is sole the source of knowledge capital
growth of theses higher education. Thus, providing a considerable thought to the
dynamics of academic community hiring & retention analytics is the need.
3) Thus, in total understanding and acceptability of HR analytics is a proven as a new
strategic tool to enhance the efficiency and organizational excellence.
5
Role of Analytics in Renovating Human Resource Management
Shilpi Verma, Prof. Rajesh Mehrotra
1) Keywords: Human Resource Management, Analytics, Strategic HRM, Planning,
Retention, Human Resource Practises
2) There are incredible number of pressures on Human Resource Management
system, to help their firm navigate through the multiplying transitions, e.g. -
Increasing Globalisation, rapid technological change, neck to neck competition;
organisational changes
3) In order to play this role, HR essentially seeks to update its pace of modernisation
& clearly needs to adopt latest technologies to avail best information for
management. Analysis of large size employee records is the spine of Human
Resource management, which is used as a basis of strategic layers.
4) With the effective application of analytical approach, HR can build a remarkable
strategic business partnership with the organisation, giving two significant
outcomes: increased organisational efficiency and a highly satisfied workforce by
formulating strategic human resource designs.
5) This study attempts to inspect the outlook of Managers and Human resource
personnel towards the resultants of Analytics application in Human resource
management and study the imperative roles of analytics in managing workforce
strategically by facilitating HR to design and execute growth promoting Human
Resource practises for the company.
6) By analytically evaluating the available and possible talent pull, company’s Human
Capital supply should be maximised with highest conceivable efficiency.
7) An integrated system must be run for designing and development of HR and
Analytics function to introduce stronger and adept HRM activities with integrated
capabilities, which can cater to both information collection and service provider for
the workforce.
8) HR analytics function should serve as a centralised source for information needed
by HR management, enabling it to act a strategic business partner for the
organisation.
9) Thus, the research strongly recommends analytics integrated Human Resource
Management, that can work as a strategic business partner to the company and aid
to utmost efficiency towards Company’s maximum revenue generation.
6
HR ANALYTICS AND ITS MODERATING FACTORS
KRISTIAN KREMER
7
Human Resource Analytics Latest Development in Business Organizations
8
UNDERSTANDING THE ADOPTION OF HR ANALYTICS IN INDIAN
CORPORATIONS
9
PREDICTIVE HR ANALYTICS AND HUMAN RESOURCE MANAGEMENT
10
THE ROLE, RELEVANCE AND FUTURE OF HR ANALYTICS AS AN
ENABLING HRM TECHNIQUES
F. R. Alexander Pravin Durai, M. Mahalakshmi
11
People analytics—A scoping review of conceptual boundaries and value propositions
12
Overview of HR Analytics to maximize Human capital investment
13
HR Analytics and Organizational Effectiveness
14
Human Resource Analytics- Discovering Research Issues Posited in its Milleu in India
Organization Human Resource Analytics (HRA)
1) HRA is not a new area or research field to find out the scope of HRA but the study
shows there are limited research work done by researcher on this area and very few
works is done in India.
2) There is huge possibility to carry out research work to reveal the various HRA
applications in India, different fields of applications of analytics in the field of Human
Resource management where ROI is maximum and the current scenario of HRA in
corporations all over the world especially in India.
3) Most of the IT companies, Banks or very large industries have invested on Analytics
in the field of Human Resource management and published reports/research reports
on the same. The research work on HRA is very less in India and Indian companies
during the last decade.
4) HR Analytics, also known as Talent Analytics, People Analytics or Workforce
Analytics, enables the HR Manager to go over and above her gut-feel and helps her to
take decisions based on hard-core data. Human resources analytics, also called talent
analytics, is the application of sophisticated data mining and business analytics (BA)
techniques to human resources (HR) data. Human resource analytics (HR analytics) is
an area in the field of analytics
15
Workforce Analytics: Increasing Managerial Efficiency in Human Resource
16
HR Analytics: A Literature Review and New Conceptual Model
H.H.D.P.J. Opatha
17
The Impact of HR Analytics on the Training and Development Strategy
18
Human Capital Analytics: A Game Changer for HR Professionals
7. Big data analytics have become essential element for HR professionals for
transformation of traditional practices into digital practices. It reduces the work
burden for HR professional and assist them to take fact-based decision making.
Human capital helps the organization to design a strategic employee planning by
analysing the all aspects of manpower data in organization and managing augmented
workforce
19
The Role HR Analytics, Performance Pay and HR Involvement in influencing Job
Satisfaction and Firm Performance
20
ETHICAL DILEMMAS IN HR ANALYTICS - Perspectives from the global workforce
1) Over 20,000 workers in 44 countries were surveyed for their ethical perspective on
data use in HR analytics.
2) This paper presents the results and practical implications for HR analytics projects.
3) The countries surveyed have been classified according to one of four ethical
ideologies: Absolutism, Situationism, Subjectivism, and Exceptionalism.
4) Most countries are classified as predominantly Absolutist. The next biggest categories
are Situationist followed by Exceptionalism. No countries were classified as
Subjectivist.
5) They conclude by discussing the implications of these ethical perspectives, including
the need for clear, transparent policies about data use, and what to do when
multinational organizations have offices in countries with different ideologies with
regard to data use.
6) New analytical capabilities are revolutionizing the field of Human Resources (HR),
and evidence-based approaches are replacing intuition as the preferred way to make
decisions in HR.
7) These developments are driven by improvements in both scientific understanding and
technology: These developments, in turn, allow better decision-making on topics such
as: which candidates companies should hire, how workers should be rewarded, and
who is most at risk of leaving.
8) It seems the limit to what professionals could do with analytics in HR is set only by
our analytical creativity. But what we could do and what we should do in analytics
within HR are altogether different questions.
9) BEHAVIORAL SCIENCE THEORY and research are able to clearly specify which
information about employees HR departments should measure. TECHNOLOGY
PLATFORMS can now store large volumes of relevant HR information and offer
sophisticated methods of analysis. OPEN STANDARDS allow methodology experts
to link disparate data sources to generate more accurate predictions about employee
behaviour.
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