SHARP HR Reporting And Analytics
HR Analytics Challenges
Statistics show that firms spend less than 1 percent of their business intelligence budget on HR analytics. However, an organization’s workforce labor expenditure or HR makeup, typically, 31 percent of a business’s total operating expenses. Going by these digits, HR must be among the top three funding areas in any organization.
The other functions of the organizations have been able to quantify the requirement of analytics for their purpose by a business case. They have successfully demonstrated that their analytics efforts lead to actions that the business must take and didn’t know about before, but unfortunately, HR struggles to do so for themselves.
The need for the hour is for HR to demonstrate its ability to take actionable analytics, quantifying a business case such as increasing sales, competitors stealing customers, reducing spending, improving productivity, as well as fulfilling state and national laws. The present model for human resource (HR) analytics doesn’t provide that robust and credible business driver for investment.
HR Analytics - Our Approach
At Renew HR, we approach the HR analytics journey of a customer in an entirely different manner. We strive first to understand the customer’s pain points and what they want to achieve before offering a solution. Hence, technology selection comes much later in the process. Our HR Analytics Client Journey illustrates the interactions a customer has with Renew HR, across this transformation initiative.
The journey begins with the discovery phase, where the customer engages with the Renew HR’s professional services team to specify all of their business needs.
We then work with the customer to prioritize these needs by urgency and significance. This provides us with a solid base to begin their analytics journey.
In the design phase, the Renew HR team and the customer work together to go from the strategic aims to applicable KPIs and metrics. We analyze the data that is currently being collected to construct insights that are closely aligned with the client’s strategic vision.
In the execute phase, we roll out the analytics designed in the earlier phase. Renew HR offers advice on how the customer’s analytics team should be structured for future problem-solving opportunities.
In this phase, we also analyze how the new analytics are helping in the decision-making process and measure the impact of new analytics on business.
HR Analytics - Technology Options
HR has quite a few choices here. The following are the various options available to HR professionals:
- SAP Analytics Cloud, SAP’s BW/BI on HANA, Digital Boardroom, Lumira, Business Intelligence and Reporting Tool (BIRT), and SuccessFactors Workforce Analytics (WFA) are all part of SAP’s Analytics offerings.
- There are other third party solutions such as OneModel, MacroMicro, Visier etc. who provide specialized HR analytics.
- Renew HR, in partnership with SAP Analytics Cloud, offers SHARP HR Analytics, which enables you to solve your business challenges.
We assist you to device your HR analytics strategy and build your KPIs & measures for your business, irrespective of your choice of the technology.
SHARP HR Analytics
We decided to team up with SAP Analytics Cloud to come up with a packaged solution that helps you take advantage of your investment in SAP SuccessFactors, SAP HCM or any other HR solution that you may have in your organization.
The reason for us to partner with SAP Analytics Cloud is to provide your organizations with rapid implementation of solutions, quickly leading to business benefits.
The visualization-rich business content, data exploration, data inference analysis, and predictive analysis offer the business insights they need to make better decisions, and enabling them to act is what will distinguish between who is the disruptor or disrupted.
Benefits Of SHARP HR Analytics Package
Following are the benefits of our SHARP HR Analytics package based on SAP Analytics Cloud:
- A very competitive and cost-effective solution which charges per user vs. number of employees in your organization
- Best practices model industry and LoB-specific, e.g., HR Boardroom agendas
- Insightful and easy-to-use visualizations and stories
- Jumpstart with Renew HR-specific KPIs, models
- Recommended data sources and prebuilt connectors
- End-User Training How-to-guide
Digital Buying Experience
We at Renew HR like to make your digital buying experience a simple and seamless one. Just like that of any other retailer, except that we would enable the purchase of some of the world’s most sophisticated business offerings from SAP: software license, content, analytics, and education-related offerings.
Keeping that thought in mind, we decided to list our implementation services at SAP App Center. Additionally, you can buy software licenses from the SAP Store. This is our way to make it easy for SMB customers to take advantage of solutions that are typically available only to larger businesses.
You can browse, search by category, filter by industry, or line of business, then purchase the solution. Purchases can be made using a credit card, and then you can download and start your implementation process instantaneously.