Technology is fast becoming the indispensable tool for Human Resources professionals in North America. Analyzing data has always been the bedrock of good management; now there is a way to take large amounts of data—often from disparate sources—to gauge effectiveness of HR productivity.
Innovative HR programs such as Software as a Service (SaaS) are rising to provide well-grounded information in a timely, efficient manner. From accurate benefit data to increased productivity to monitoring HR costs, this new generation of online software offers a way to understand how to create incentives, hire the best people and streamline the onboarding process.
All this with a considerable savings, to boot!
From a post by Derek Sankey for the Calgary Herald:
“Human capital metrics (HCM), or workforce analytics, are technology solutions that bring together a wide variety of information from disparate, in-compatible systems and make sense out of it.
The goal is to help man-agers and decision-makers more effectively understand labour costs, whether it’s the cost to hire a new employee, how to improve business functions to boost productivity or the “real” cost of turnover …”
Read the entire article—A New Way to Measure Performance—at CalgaryHerald.com.
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