From the course: Certification Prep: Professional in Human Resources (PHR)®
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Assessing the labor market
From the course: Certification Prep: Professional in Human Resources (PHR)®
Assessing the labor market
- You come into work, and what do you find? Yet another resignation letter from another key leader. You may become frustrated and wonder, what in the world is going on here? Using workforce analytics may give you just the insight you need. Workforce analytics uses data to give insight into human behavior. Questions like why is our turnover rate 20% or is it time to give pay raises can be answered using analytics. Analytics helps HR pros analyze trends, which allows HR to plan appropriately and make recommendations that are grounded in measurable data. Business leaders respect this kind of analysis, which improves an HR pro's credibility as a strategic business partner. Let's face it, many HR pros chose a career in HR, not math or statistics. Analyzing large amounts of data quickly can present a huge challenge. However, there are several tools available that help HR pros draw conclusions about raw data. Being able to interpret this data is key. The HR pro should be skilled in the art…
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