In the latest update in field of Human Resource Management in India, companies are developing HR analytics to provide them with relevant insights into the coming attrition rate, the reasons causing such attrition, when is the best time to give salary hikes and how to retain talent within the organization.
Much of the jargon is woven in tones of words and phrases around these key ideas behind the subject matter of HRM. But some companies in India have now decided to move beyond subjective imagery drawn by these rhetoric speaking HR experts and instead rely on a source which is more of a scientific orientation and decides upon the fact related to their people decisions that they may find themselves in a position to take a few days after. So how does this new so-called scientific model works?
Well the computer program designed by Google India to derive HR insights from it is based on million of bytes of raw data which is then mined upon and applies several accounts and ratios connected to HR on it – And bingo you have your metric ready with all the key performance indicators to help you with decision making on HR strategies you should follow while designing an upcoming HR policy.
Google has taken its cues for designing the architecture of their HR analytics program from the likes of a manufacturing company. In just as the same way as a manufacturing company takes note of its sales figures in real-time to supplement the stock and avoid all possible delays in delivery etc.-while trying its best to keep a tab on any unplanned expenditure or losses due to any unforeseen breakdown in the production unit, the same basic principles have been applied here also.
Hexaware is another Indian company that has started to follow a model similar to that of Google India’s on which it’s chief people officer, Amberin Memon says, “Various data based dashboards like predictive model for attrition, exit analyses have helped us in redefining our approach”. At Hexaware they have named this model as “flight risk management system” and based on the inputs provided by the system they decide upon the measures needed to be followed to correct the situation.
Not every organization has however transitioned to such advanced analytics in taking their people decisions and one such corporation still in a vary nascent stage of adopting this new model totally is Asian Paints. Ernest Louis, VP-HR at Asian Paints however notes that “As the organization grows in size and complexity, HR analytics will be hugely required.”
If your organization is also facing any such difficulties with retaining your skilled workforce (talent), you can share your problem with us (Global Annal Management Consultants) and our experts will help assess the causes behind your people problem and assist you in every possible way to find a viable solution for the unique problem faced by your organization.