Data without analysis and action is just… data. As you collect HR data, don’t just file it away. Use your HR data to understand trends, issues, and opportunities. Then, take action to make changes based on your learnings.
To make the most of your HR ROI calculations:
Connect the HR data to business objectives and goals.
Use the data to drive optimization. Learn about what is working, and not working. Then, make changes based on these learnings.
Communicate learnings and recommendations to key decision makers.
As you collect, analyze, and take action on your results, follow this step-by-step checklist:
Identify which data to track. Remember, choose HR data related to business objectives and ROI calculations that will provide actionable insights
Identify how and who will track the data. Remember, aim for consistent and comprehensive data. This may mean getting supervisors and managers onboard to help with data reporting. You also need to consider how the data will be tracked. Read more about HR data management options here.
Identify how the data will be analyzed. What is the sample size needed? What time frame will data be analyzed (ex: monthly, quarterly).