HR analytics has simplified the hiring process for HR managers. Previously, HR managers would take decisions for recruitment based on their ‘gut feeling’. This software is proving to be of great help for the HRs as it can analyze the skillset and expertise of a prospective hire and provide valuable insights. It also helps in removing biases and helps companies take an impartial decision.

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This, in turn, is benefitting companies and businesses in recruiting the right people for the job, which would directly give them an edge over their competitors and impact their performance. The demand for efficient hiring is rising worldwide, as it helps businesses be more agile and proactive. Nowadays, work is being done in the direction of making the HR analytics software even smarter by integrating it with machine learning and AI.

Technical advancements are leading to high demand for AI-enabled devices and products. AI can help HRs forecast employee flight risk, unearth engagement issues, identify high-potential employees, recommend learning courses, study the impact of a recruitment decisions, and more, which would further help organizations improve their workforce efficiency in the coming time. 

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HR analytics is helping industries, such as retail, banking, financial services, and insurance (BFSI), government, manufacturing, energy utilities, entertainment, oil gas, hospitality, automotive, logistics, information technology telecom, education, and healthcare organize their workflow. The BFSI sector faces a crisis in recruiting new talent and finding a replacement for people nearing the age of retirement or people who leave.

Global HR Analytics Market Segmentation

Market Segmentation by Offering

• Solutions
  • Retention
  • Recruitment
  • Workforce planning
  • Compensation and incentive program
  • Employee development
  • Employee engagement
  • Others
• Services
  • Professional
  • Managed

Market Segmentation by Deployment Type

• On-Premises
• Cloud

Market Segmentation by Enterprise Size

• Large Enterprise
• Small Medium Enterprise (SME)

Market Segmentation by Industry

• Banking, Financial Services, and Insurance (BFSI)
• Manufacturing
• Information Technology (IT) Telecom
• Healthcare
• Education
• Energy Utilities
• Government
• Retail
• Others