Across various industries Human Resources (HR) departments increasingly use HR analytics to strengthen their workplaces and bottom lines.
According to Oracle’s The State of HR Analytics 2021 report, “Nearly half of respondents agree or strongly agree that HR professionals are savvy about key business as well as HR analytics.”
This is why it’s imperative for HR professionals to possess HR analytics knowledge and skills. Pursuing a Master of Science in HR Analytics online could be the answer to developing your analytics skills for your current role or future role.
Predictive HR analytics is just one part of the HR analytics puzzle. In this article you’ll learn what predictive HR analytics is, the benefits it has for an organization and key examples from the workplace.
Defining Predictive HR Analytics
HR professionals who are trained in predictive analytics play an important role in various industries. Predictive HR analytics is the process of analyzing past and current data to make better predictions about future events, specifically predictions about employees or HR trends.
Predictive HR analytics involves statistical techniques such as:
- Data mining
- Machine learning
- Predictive modeling
HR professionals who are equipped with predictive HR analytics skills are more likely to strengthen their organizations’ workforce overall and succeed in future HR roles.
Benefits of Predictive Analytics in HR
There’s no doubt predictive analytics benefit the modern HR role. The more organizations can predict things like employee turnover or top performing candidates for open roles, the stronger an organization’s workforce will be. The top benefits of predictive analytics in HR include:
- Increased employee engagement
- Hiring best-fit candidates to fill open roles
- Improve retention levels of top-tier talent
- Reduce costs that come from resignations or new hires
HR has moved beyond simply capturing and measuring data, to now leveraging this information to inform and predict key HR outcomes. Knowing how predictive HR analytics benefits an organization is great, but what are some examples?
Examples of Predictive HR Analytics
An article from Visier, a people analytics and workforce planning software company, gives 4 excellent examples of how HR departments can use predictive analytics to better an organization.
- Predicting voluntary employee turnover
- Predicting hiring success to improve the recruitment process
- Collecting employee engagement data to predict revenue
- Improving overall performance
All of these examples, when predictive HR analytics is used correctly, show how an organization’s bottom line can truly benefit from the use of data.
Pursue Your Masters in HR Analytics Degree Online
Montclair State University’s Master of Science in HR Analytics program will help you gain the skills necessary to excel in technological and data-driven HR roles such as HR Director, People Analyst or HR Analyst.
You’ll complete this fully online master’s program in an average of 2 years, gain HR and analytics skills to work in any industry and complete coursework that will give you the skills to advance your career.
Some of our MS in HR Analytics courses include:
- Data visualizations
- Business communications
- Human resource analytics
- Managing Global Workforce
- Advanced HR data analytics
Learn more about Montclair State University’s MS in HR Analytics program by visiting our overview page today!