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How to Turn Your HR Data into Actionable Insights? The Power of HR Analytics.
In today's rapidly evolving business landscape, HR professionals are under immense pressure to deliver exceptional employee experiences, optimize operations, and drive strategic growth. Traditional HR practices are often constrained by manual processes, limited data insights, and a lack of agility.
To meet these challenges, organizations are increasingly turning to HR Analytics: a strategic approach to collecting, analyzing, and interpreting HR data. It provides valuable insights into your workforce, enabling you to optimize operations, enhance employee satisfaction, and boost overall business performance.
While payroll provider data is valuable, HR Analytics can offer a much broader perspective. HR professionals often seek to analyze not only Belgian employees but also international workforce data, or they want to understand the costs and performance of employees, they want to evaluate workforce efficiency and optimize resource allocation based on business processes…
To achieve these goals, a 360-degree view of your HR data is essential. This involves integrating various data sources, such as international workforce data, interim and freelancer information, soft HR metrics, and financial or productivity data. By combining these data sources, you can gain a deeper understanding of your workforce and make more informed decisions to drive business success.
element61 recognizes the challenges most companies have, which is why we developed our HR “Out-of-the-Box” solution, enabling companies to quickly gain insights from their HR data. Read below to discover what’s included in our solution and how we can explore integrating additional relevant data sources into the platform.
Why is HR Analytics Important?
- Monitor and Control Costs: Gain visibility into employee costs, identify areas for optimization, and ensure effective resource allocation.
- Analyze Absenteeism: Understand the impact of absenteeism on productivity and identify underlying causes to implement targeted solutions.
- Maintain Data Integrity: Ensure accurate and confidential data handling to comply with regulations and protect sensitive information.
- Conduct Comprehensive Analysis: Conduct cost-based analyses across multiple levels to identify trends, assess performance, and make data-driven decisions.
- Track Workforce Trends: Monitor headcount, inflow, outflow, seniority, and other key metrics to identify patterns and inform strategic planning.
Our “Out-of-the-Box” solution comes with different available modules based on business processes. HR is one of 10 modules with Finance, Sales, Purchase,… as the other modules. You can find more information on the “Out-of-the-Box” solution in general here.
What can you expect from the HR Analytics “Out-of-the-Box” solution:
Our “Out-of-the-Box” HR Analytics solution is designed to simplify and accelerate your journey towards data-driven HR management.
Here is what we offer in the HR “Out-of-the-Box” solution:
- Comprehensive Data Integration: Our solution supports data from all Belgian payroll providers, ensuring seamless integration and a holistic view of your HR metrics. The setup is future-proof so you can easily combine your payroll provider data with additional sources, such as freelancers, interims, development programs, and training data, to gain a comprehensive understanding of your workforce.
- Pre-defined Dashboards: Access ready-to-use dashboards that provide critical HR KPIs, including headcount, sickness, salary evolution, and more.
- Self-Service Capabilities: Take control of your HR data with the ability to make changes to data and reports, empowering you to explore insights independently.
What are the benefits of leveraging our HR “Out-of-the-Box” solution:
- Rapid Implementation: Benefit from a streamlined implementation process that takes just 5 days to set up the dashboards.
- Cross-Functional Insights: Connect your HR data with other business processes to analyze employee productivity, performance costs, and more. Our modular approach allows for independent use of modules while maintaining a unified data model for reporting.
- No Vendor Lock-in: Enjoy the flexibility of an extendable platform without being tied to a single HR service provider.
- Data Control: You retain full control over your data, including easily incorporating historical or legacy data, and other information from your data estate.
- Integration Capabilities: Our solution integrates seamlessly with your existing BI or data warehouse systems and other datasets like finance and production.
Partner with element61 for HR Success
element61 is a thought leader in delivering innovative solutions. With experience & expertise in Business Intelligence, Data Science & Advanced Analytics (AI) and Performance Management, we empower organizations to achieve their data-driven goals. Next to consulting, we offer “Out-of-the-Box” packaged solutions which are tailored to meet the unique needs of businesses across various industries, providing a comprehensive set of tools to streamline business processes like HR to boost and enhance decision-making.
By leveraging element61’s “Out-of-the-box” HR solutions, you can elevate your workforce, drive operational excellence, and achieve your strategic objectives. Our expert team will guide you through the process, offering coaching and co-development to ensure you get the most out of our HR Analytics solution.
Contact us to learn more about how element61 can help you transform your HR function through a demo. Our experts will provide valuable insights and guidance on how to optimize and drive better business outcomes.
Mélanie Vercaempt – melanie.vercaempt@element61.be
Kurt Vandebergh – kurt.vandebergh@element61.be