Predictive Analytics in HR and Payroll: Unlocking Hidden Patterns for Smarter Workforce Management

Running payroll, especially on a global level, can be complex. With budget cuts, hybrid and remote teams, and expanding expectations (like huge

makes use of AI and dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061154″>future outcomes. Ultimately, this benefits the organization by taking away extra administrative work that distracts from more valuable strategic activity.

What is dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061105″>Predictive analytics is all about forecasting what could happen in the future using dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061144″>data sets unlocks insights that prove its true strategic value – all without any additional time or labor.

For example, dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061109″>human resources come up with better job role advertising.

Three advantages of dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061105″>predictive analytics can create a more in-depth snapshot of things like absenteeism, sickness, dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061118″>HR data can then be compared to discover important correlations, for example, employee satisfaction and engagement vs. salary. In doing so payroll and dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061107″>retention strategies accordingly.

 

  1. Increased strategic capability

By passing over some of the day-to-day tasks like data collection and analysis, the additional workforce capacity gained can be used to work on enacting long-term strategies supported by the insights generated by this kind of

  • Proven power

  • Rather than being seen as an administrative function or a ‘cost center’, Payroll and HR suddenly have the ability to provide highly valuable data and predictions that can be converted into increased productivity, lower costs, or improved employee satisfaction.

    By both providing payroll and HR services, and also feeding key insights into decision makers, the power of HR and Payroll becomes very clear, especially during turbulent and ever-changing times from a workforce perspective.

    AI and the modern pay experience

    Although AI can collect and present data accurately, it still takes an expert to understand and action the findings. Intuition and experience are still required to turn the basics that AI can generate into business results.

    With access to this technology, payroll suddenly becomes more than just the department that pays people. The function has the potential to pass on some day-to-day tasks to AI, but this definitely doesn’t mean dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061147″>employee data and organizational strategy, using everything from interviews to employee system usage to build the bigger picture.

    The real question is whether your HR and Payroll teams are already thinking about how AI and dropdown#toggle” data-dropdown-placement-param=”top” data-term-id=”280061117″>data-driven Get in touch with us to see how we can integrate

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