Organizations don’t understand the true cost of Human Capital. Using QAS will enable your organization to determine the real cost of HR decisions. Having this information at your fingertips will help management make data-driven decisions and understand the financial impact of any given workforce decision.
Using QAS/HR Analytics can increase ROI by;
- Attracting and retaining top performers
- Optimizing employee performance and productivity
- Creating a positive work environment
Using the QAS will allow you to answer critical questions such as;
- How high is annual turnover and what is the cost?
- Which employees will be most likely to leave your organization within a year?
- How can we as an organization test effectiveness of HR interventions?
- How can we measure employee engagement on financial performance?
- What is the business impact of your learning and development budget?
A global survey administered by Deloitte found that 71% of companies view HR Analytics as a high priority in their organization, however only 8% have useable data (Collins, Fineman, Tsuchida (2017).
Deloitte also found that HR Analytics is most commonly used for; recruiting, performance management, compensation, workforce planning, and retention (Collins, Fineman, Tsuchida, (2017).
Uber uses HR Analytics to improve their customer service and productivity by tracking how long it takes drivers to pick up food after a customer has placed an order (O’Conner, 2016).