Generating and analyzing business intelligence data is nothing new. Examining trends and optimizing processes is common place for sales departments. But are HR trends analysis worth it? Because, let’s face it – HR is different.
BUSINESS INTELLIGENCE FOR HR
For HR departments, our “stock” is people. Our “transactions” don’t require shipping. So our analyses needs rarely get mentioned when someone starts talking about “business intelligence,” even though BI is just as important in HR as it is in the rest of an organization.
Employees – like stock – have value; they represent an investment which should be monitored and evaluated. But unlike stock that sits on a shelf, an employee’s value changes; it changes as employees move up within your organization, and it changes based on such simple things as staff attendance, certification, and salary.
So let’s talk about HR trends analysis.
Whereas a sales department is concerned about sales figures going up or down, trends an HR department is concerned with include whether employee productivity and employee costs going up or down. An employee who is suddenly (or even gradually) recording more and more sick time over the last few months is a concern. A departmental manager whose expenses for the last month are exponentially higher than their average month is cause for alarm. And a quarter in which your employees have to renew over half of their certifications is unquestionably something that has to be planned for.
A pretty darn good case can be made on behalf of the need for trend analysis within HR. But now comes two further questions, which can prove to be more challenging:
- Can HR afford the price of an “analytics application” to perform trend analysis?
- Does the HR staff have the time required to use such an analytics tool?
Typically the answers to these two questions are: “I sincerely doubt it,” and “No way,” respectively.
PERFORM HR TRENDS ANALYSIS WITH ALERTS
An HR trends analysis product may seem to be another one of those “nice-to-have if-we-could” solutions. But it is, indeed necessary and there are solutions available at a reasonable cost (less than $2,000) and makes no additional demands upon an HR staffer’s everyday workload.
To find one, don’t look up “Business Intelligence”, “Analytics”, or even “Trend Analysis.” Instead, start searching for “Alerts” or “Business Activity Monitoring.” After all, isn’t the process of monitoring your HRMS system for trends, and then communicating those trends to the appropriate people – really nothing more than a rather sophisticated alert?
Or, to use a sports analogy, an “alert on steroids?”
Alert systems have grown up. No longer are they limited to the role of “alarm clock” for your HR data: doing nothing more than waking you up to new hires, changes in benefits, or certifications about to expire. There’s nothing wrong with those uses. But today, alert and work flow systems have so much more to offer.
The new generation of alerts technologies for HR include the ability to perform trend analysis at a reasonable cost. They operate automatically and maximizes HR staffer’s available time.
So don’t let those folks in sales tell you that there’s no need for trend analysis in HR. (And don’t let those folks in Accounting say you can’t afford it.) Your employees are your organization’s single-most important commodity; you can’t afford not to analyze trends. HR trends analysis can help you get the most out of your business’ most important investment.
On September 28, 2016, we held a live demo that is now available ON DEMAND!
SAGE ALERTS AND WORKFLOW
Designed for Sage HRMS, Alerts and Workflow automatically monitors and responds to critical, time-sensitive conditions regarding your employees and HR activities. Trigger alerts and workflow so that you never again have to say “if only we had known…”
- Exception management via 50+ preconfigured events
- Time & threshold alerts via email, text & dashboard
- Automatic delivery of HR reports & standard forms
- “Inactivity” monitoring, such as reviews not completed
- Trend detection, such as increasing absenteeism
See Sage Alerts and Workflow in action!