HR Analytics, HR Entrepreneurship, AI-Based HR Solutions & New HR Trends for the Future

Scope: HR-function metrics: KPI, employee turnover, time-to-recruit, training-expense-per-employee, promotion cycles.; Subjects Covered: Only employees (HR is exclusively accountable).

Scope: Any "people" connected to the firm — broad-based, unbounded.; Subjects Covered: Employees + customers + shareholders + suppliers. Used to align all stakeholder behaviour to business strategy.

Scope: All who work for the firm in any capacity.; Subjects Covered: Regular employees + on-site + remote + freelancers + consultants + scope for AI/robots that may replace jobs.

Aspect: Concept; HR Metrics: Operational measures/numbers tracked to analyse performance, efficiency and impact of practices/changes.; HR Analytics: Analyses and decision-making by comparing variables to guide future decisions; predicts future outcomes.

Aspect: Objective; HR Metrics: What the organisation measures to gauge progress — helps utilise human resources and check effectiveness of HR policies.; HR Analytics: Uses HR metrics to take decisions on how to move forward and to track effectiveness of metrics on HR and business outcomes.

Aspect: Scope; HR Metrics: Only reveals what is happening or has happened (hard data).; HR Analytics: Goes beyond numbers — finds why something is happening and its impact, reasons and links.

Aspect: Illustration; HR Metrics: Calculate turnover % in a vertical/section.; HR Analytics: Find common reasons for exits and design a plan to stop other workers from following.

Impact of attrition on the company's exchequer.