The Quirky Relationship of Numbers and Retention

An inside joke among many HR practitioners is that, they became HR to avoid numbers. Alas! HR is, at times, all about the numbers.

Well, not necessarily arithmetic or algebra, but DATA.

The Importance of Data

Let me make this clear - gone are the days when HR choices were only based on gut-feel or stories from generations before us. A data-driven method is necessary in today's HR world, and for good reason. By using analytics, HR professionals can learn a lot about how employees behave, how engaged they are, and how happy they are with their jobs generally. When talking about retention, data is the key that shows patterns, finds trends, and helps make smart decisions.

Understanding Data Analytics

Data analytics exists at several levels, each of which is critical to corporate effectiveness. At its most basic is descriptive analytics, which involves summarizing and presenting data in order to provide a clear snapshot of current trends. Exploring this data aids in identifying patterns and opportunities for improvement. 

Diagnostic analysis, the second level, dives deeper into determining the fundamental causes of out-of-pattern data by evaluating variable relationships. 

Predictive analysis, on the other hand, uses a forward-thinking approach, forecasting future trends and anticipating probable obstacles and challenges based on previous or historic data. 

Finally, prescriptive analysis provides possible specific actions based on prior analyses' insights.

Spotting the Red Flags and Timely Interventions

One of the best things about using data in HR is that it lets you spot early signs of possible employee attrition. Using predictive analytics, HR professionals can find patterns that could mean workers are unhappy or not interested in their work. This awareness can now be used in order to come up with strategies on how to address unhappiness and/ or disinterest. You can also use targeted interventions, like custom training programs or changes to pay structures, to successfully lower the risk of turnover.

Training Programs and Employee Interest

As a trainer, I've seen firsthand how targeted learning programs can change how engaged and committed employees are. HR can tailor training programs to the needs of each employee and each team by using data analytics. This makes sure that workers learn the skills and information they need for their own growth and the success of the company. Unfortunately, there are still a lot of companies here in the Philippines who subscribe to the one-size-fits-all approach. This can actually lead to more expense with very low ROI.

By combining data-driven insights with training programs, HR professionals can make a learning space that resonates with employees, encouraging them to feel like they join and take an interest in their professional growth, ultimately leading to better retention rates.

HR Analytics Tools

There are many ways that data analytics can help you keep employees; however, it is important to highlight that collecting and analyzing data should always be within what is allowed by the Data Privacy Act. If you are looking at tools that can help you with data analysis, I would recommend the following:

• Google Sheet + Looker Studio

If your primary concern is the expensive platforms for data analytics, one alternative you can go for is Google Sheets combined with Looker Studio, both of which are available with your Gmail/ Google account. The Google Sheet serves as your database while the Looker Studio serves as your reports dashboard. While there is some learning curve, it can be a handy tool to have so that you do not have to spend hours preparing and updating your reports.

• Tableau Public 

 

If you are working on non-confidential data, and you do not have any problems with these becoming public, Tableau Public can be a nice option. It has everything that Tableau offers but, as mentioned, dashboard is open to the public. I also find it a bit more technical than Looker Studio so the learning curve for those new to data analysis might be steeper.

• Microsoft Power BI

 If you are more comfortable using MS Excel and the whole MS Office suite, then Power BI might more suited for you. It comes with a free plan although you might need to pay for more functionalities. Since it is similar to how Google Sheet and Looker Studio interacts, learning curve might not be that steep especially if you have been using recent versions of MS Office for quite some time.

• Datawrapper 

If what you are looking for is just something to simplify the visualization and not necessarily the whole dashboard, Datawrapper is a good option. There is not much learning curve as the platform will take you through the steps on how you can convert your data to something that is not only visually appealing but easy for your audience to understand.

All hope is not lost. I take comfort in the fact that our field is moving toward a more complex and data-driven future. This shift in the way things are done can make it easier for companies to retain their employees and help them grow into their profession.

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