10 Best HR Analytics Software for 2023

Posted: 12 min read

Human resources (HR) analytics has emerged as a vital tool for organizations to gain valuable insights into their workforce. By leveraging HR analytics software, businesses can effectively analyze and interpret data related to their employees, allowing them to make data-driven decisions and optimize their HR processes. In this article, we will explore the top 10 HR analytics software solutions for 2022, highlighting their key features, benefits, and use cases.

In today’s data-driven world, HR departments need robust analytics solutions to effectively manage their workforce and make informed decisions. HR analytics software provides organizations with the necessary tools to collect, analyze, and interpret data related to their employees, enabling them to improve talent acquisition, employee engagement, retention, and overall organizational performance.

This article presents a curated list of the top 10 HR analytics software solutions for 2022. Each software offers unique features and functionalities to cater to the diverse needs of organizations. Let’s dive into the details of these HR analytics tools and explore how they can empower HR professionals to drive strategic initiatives and optimize their workforce management processes.

Workday HCM

Workday HCM is a comprehensive HR analytics software that combines core HR functionalities with advanced analytics capabilities. With Workday HCM, organizations can gain deep insights into their workforce data, enabling them to make data-driven decisions to enhance productivity, engagement, and employee satisfaction.

Key features of Workday HCM include:

  • Advanced reporting and analytics: Workday HCM offers robust reporting and analytics tools, allowing HR professionals to generate custom reports, visualizations, and dashboards to gain actionable insights.
  • Workforce planning: The software enables organizations to forecast workforce needs, identify skills gaps, and create strategic workforce plans to align with business objectives.
  • Talent management: Workday HCM provides comprehensive talent management functionalities, including recruitment, performance management, learning and development, and succession planning.

Use cases for Workday HCM:

  1. Talent acquisition: HR teams can leverage Workday HCM’s analytics capabilities to identify the most effective recruitment channels, optimize the hiring process, and assess the quality of candidates.
  2. Employee engagement: By analyzing employee feedback, performance data, and other relevant metrics, organizations can identify factors that impact engagement and take proactive measures to improve it.
  3. Succession planning: Workday HCM enables HR professionals to identify high-potential employees, assess their readiness for leadership positions, and create tailored development plans.

SAP SuccessFactors

SAP SuccessFactors is an integrated HR analytics software solution that covers various HR functions, including talent management, learning, and employee experience. The software provides powerful analytics capabilities that enable organizations to gain actionable insights and optimize their HR processes.

Key features of SAP Success

Factors:

  • Real-time analytics: SAP SuccessFactors offers real-time analytics, allowing HR professionals to monitor key metrics and make informed decisions on the go.
  • Employee sentiment analysis: The software includes sentiment analysis tools to assess employee feedback and sentiment, enabling organizations to proactively address concerns and improve employee experience.
  • Workforce planning and analytics: SAP SuccessFactors helps organizations align their workforce with business objectives by providing workforce planning and analytics functionalities.

Use cases for SAP SuccessFactors:

  1. Learning and development: HR teams can leverage SAP SuccessFactors to analyze training needs, track learning progress, and identify skill gaps to design effective learning and development programs.
  2. Workforce planning: Organizations can use the software’s analytics capabilities to identify workforce trends, predict future needs, and optimize workforce planning strategies.
  3. Employee retention: SAP SuccessFactors enables HR professionals to identify factors influencing employee turnover, such as compensation, career development opportunities, or manager quality, and take proactive measures to improve retention rates.

Oracle HCM Cloud

Oracle HCM Cloud is a comprehensive HR analytics software solution that provides organizations with a unified platform to manage all aspects of their workforce. The software offers advanced analytics capabilities, empowering HR professionals to gain actionable insights and optimize their HR processes.

Key features of Oracle HCM Cloud:

  • Predictive analytics: Oracle HCM Cloud leverages predictive analytics to forecast employee attrition, identify flight risks, and enable proactive retention strategies.
  • Compensation management: The software provides robust compensation management functionalities, allowing organizations to analyze compensation data, ensure pay equity, and make informed decisions regarding salary adjustments.
  • Employee engagement and sentiment analysis: Oracle HCM Cloud includes tools to measure employee engagement, assess sentiment, and identify areas for improvement.

Use cases for Oracle HCM Cloud:

  1. Workforce diversity and inclusion: HR teams can leverage Oracle HCM Cloud’s analytics capabilities to assess diversity metrics, identify potential biases, and implement initiatives to foster a more inclusive workplace.
  2. Performance management: The software enables organizations to analyze performance data, identify top performers, and provide personalized feedback and development opportunities.
  3. HR compliance: Oracle HCM Cloud offers functionalities to monitor HR compliance metrics, such as diversity representation, pay equity, and compliance with labor laws, helping organizations ensure adherence to regulations.

ADP Vantage HCM

ADP Vantage HCM is a cloud-based HR analytics software that helps organizations streamline their HR processes and gain actionable insights into their workforce. The software offers robust analytics capabilities, enabling HR professionals to make data-driven decisions and optimize their talent management strategies.

Key features of ADP Vantage HCM:

  • HR data analytics: ADP Vantage HCM provides a comprehensive set of analytics tools to analyze HR data, generate reports, and visualize workforce trends.
  • Workforce planning and forecasting: The software enables organizations to forecast future workforce needs, analyze skills gaps, and create strategies to address talent shortages.
  • Compliance and reporting: ADP Vantage HCM helps organizations maintain HR compliance by providing tools to monitor and report on various HR metrics and regulations.

Use cases for ADP Vantage HCM:

  1. Payroll and benefits management: HR teams can leverage ADP Vantage HCM to analyze payroll data, manage benefits programs, and ensure compliance with payroll regulations.
  2. Workforce analytics: The software allows organizations to track key workforce metrics, such as turnover rates, time-to-hire, and employee productivity, to identify areas for improvement and optimize HR processes.
  3. Strategic workforce planning: ADP Vantage HCM’s analytics capabilities enable organizations to align their workforce strategies with business goals, identify critical roles, and develop talent pipelines.

BambooHR

BambooHR is a popular HR analytics software that offers a user-friendly interface and comprehensive HR functionalities. The software provides organizations with powerful analytics tools to gain insights into their workforce, automate HR processes, and enhance employee experience.

Key features of BambooHR:

  • Employee self-service: BambooHR allows employees to access their HR information, submit requests, and update personal details, reducing administrative burden for HR teams.
  • Time-off management: The software includes time-off tracking and management functionalities, enabling organizations to streamline leave requests, track balances, and ensure compliance with leave policies.
  • Custom reporting: BambooHR provides flexible reporting capabilities, allowing HR professionals to create custom reports and visualizations to analyze HR data and gain actionable insights.

Use cases for BambooHR:

  1. Employee data management: HR teams can use BambooHR to centralize employee data, track employee records, and generate reports to support HR operations and decision-making.
  2. Performance management: The software enables organizations to set goals, track performance metrics, conduct performance reviews, and provide feedback, promoting a culture of continuous improvement.
  3. Onboarding and offboarding: BambooHR offers features to streamline the onboarding and offboarding processes, ensuring a smooth transition for new hires and departing employees.

Visier

Visier is an advanced HR analytics software that combines workforce intelligence, data visualization, and predictive analytics to help organizations optimize their HR strategies and drive better business outcomes. The software offers comprehensive analytics capabilities, empowering HR professionals to make informed decisions and take proactive measures.

Key features of Visier:

  • Predictive analytics: Visier leverages machine learning algorithms to analyze historical data and predict future workforce trends, enabling organizations to make proactive decisions.
  • Benchmarking: The software provides benchmarking functionalities, allowing organizations to compare their HR metrics and workforce performance against industry standards and peers.
  • Data visualization: Visier offers interactive dashboards and visualizations to present HR data in a clear and intuitive manner, facilitating data exploration and analysis.

Use cases for Visier:

  1. Workforce planning and optimization: HR teams can leverage Visier’s analytics capabilities to identify workforce trends, plan for future talent needs, and optimize workforce allocation and deployment.
  2. Diversity and inclusion initiatives: The software enables organizations to analyze diversity metrics, identify potential gaps, and develop strategies to foster a more diverse and inclusive workforce.
  3. Employee turnover and retention: Visier helps organizations identify factors contributing to employee turnover, such as compensation, work environment, or career development opportunities, allowing them to take proactive measures to improve retention.

PeopleSoft

PeopleSoft, an Oracle product, is a comprehensive HR management system that includes robust analytics capabilities. The software offers a wide range of HR functionalities, allowing organizations to streamline their HR processes and gain insights into their workforce through advanced analytics.

Key features of PeopleSoft:

  • Talent acquisition: PeopleSoft provides recruitment analytics tools to help organizations analyze recruitment metrics, identify bottlenecks in the hiring process, and optimize talent acquisition strategies.
  • Workforce planning and optimization: The software enables organizations to forecast workforce needs, analyze skills gaps, and create strategic workforce plans to align with business goals.
  • Compensation and benefits management: PeopleSoft offers functionalities to analyze compensation data, manage benefits programs, and ensure compliance with compensation policies and regulations.

Use cases for PeopleSoft:

  1. Performance management: HR teams can leverage PeopleSoft’s analytics capabilities to track performance metrics, conduct performance appraisals, and identify areas for improvement.
  2. HR compliance: The software helps organizations ensure compliance with HR regulations and labor laws by providing tools to monitor and report on various

HR metrics and policies. 3. Succession planning: PeopleSoft enables HR professionals to identify high-potential employees, assess their readiness for leadership positions, and create succession plans to ensure a smooth transition of key roles.

Kronos Workforce Ready

Kronos Workforce Ready is a cloud-based HR analytics software designed to help organizations effectively manage their workforce. The software offers comprehensive HR functionalities, including time and attendance tracking, payroll, and HR analytics, to optimize workforce management and drive operational efficiency.

Key features of Kronos Workforce Ready:

  • Time and attendance tracking: Kronos Workforce Ready provides robust time and attendance tracking functionalities, allowing organizations to accurately record and manage employee hours, track labor costs, and ensure compliance with labor regulations.
  • Payroll management: The software includes payroll management tools to streamline payroll processes, calculate accurate wages, and ensure compliance with tax and labor laws.
  • HR analytics and reporting: Kronos Workforce Ready offers analytics and reporting capabilities to help organizations analyze workforce data, generate reports, and gain insights into key HR metrics.

Use cases for Kronos Workforce Ready:

  1. Workforce scheduling: HR teams can leverage Kronos Workforce Ready’s analytics capabilities to optimize workforce scheduling, ensure adequate coverage, and minimize labor costs.
  2. Absence management: The software enables organizations to track employee absences, manage leave requests, and analyze absence patterns to identify potential issues and improve absence management strategies.
  3. Labor cost optimization: Kronos Workforce Ready’s analytics tools allow organizations to analyze labor costs, identify cost-saving opportunities, and optimize workforce allocation and productivity.

Ultimate Software UltiPro

Ultimate Software UltiPro is a comprehensive HR management software that includes powerful analytics capabilities. The software offers a range of HR functionalities, including payroll, talent management, and HR analytics, enabling organizations to streamline their HR processes and gain valuable insights into their workforce.

Key features of Ultimate Software UltiPro:

  • Payroll management: UltiPro provides comprehensive payroll management functionalities, including tax management, compliance, and reporting, ensuring accurate and timely processing of employee payments.
  • Talent management: The software offers robust talent management tools, including performance management, succession planning, and learning and development, to support organizations in attracting, developing, and retaining top talent.
  • HR analytics and workforce intelligence: Ultimate Software UltiPro’s analytics capabilities allow organizations to analyze HR data, generate reports, and gain insights into key HR metrics, empowering HR professionals to make data-driven decisions.

Use cases for Ultimate Software UltiPro:

  1. Employee engagement: HR teams can leverage UltiPro’s analytics capabilities to measure employee engagement, identify factors influencing engagement levels, and implement strategies to improve employee satisfaction and productivity.
  2. Compliance management: The software helps organizations ensure compliance with HR regulations and labor laws by providing tools to monitor and report on various HR metrics, such as diversity representation, pay equity, and compliance with labor regulations.
  3. Performance management: Ultimate Software UltiPro enables organizations to track performance metrics, conduct performance reviews, and provide feedback, facilitating a culture of continuous performance improvement.

Cornerstone OnDemand

Cornerstone OnDemand is an all-in-one talent management platform that includes robust analytics capabilities. The software offers a comprehensive suite of HR functionalities, including learning management, performance management, and HR analytics, empowering organizations to optimize talent management and drive employee development.

Key features of Cornerstone OnDemand:

  • Learning and development: Cornerstone OnDemand provides a robust learning management system, allowing organizations to create and deliver training programs

, track employee learning progress, and measure the effectiveness of learning initiatives.

  • Performance management: The software includes performance management tools to set goals, track performance metrics, conduct performance appraisals, and provide feedback, facilitating ongoing employee development and performance improvement.
  • HR analytics and reporting: Cornerstone OnDemand offers powerful analytics and reporting capabilities to help organizations analyze HR data, generate reports, and gain insights into key talent metrics.

Use cases for Cornerstone OnDemand:

  1. Learning and development: HR teams can leverage Cornerstone OnDemand’s analytics capabilities to analyze training needs, track learning progress, and identify skill gaps to design and deliver targeted learning programs.
  2. Performance management: The software enables organizations to track performance metrics, conduct performance appraisals, and provide feedback, facilitating continuous performance improvement and employee development.
  3. Succession planning: Cornerstone OnDemand’s analytics tools allow organizations to identify high-potential employees, assess their readiness for leadership positions, and create tailored development plans to ensure a smooth transition of key roles.

Conclusion

HR analytics software plays a crucial role in helping organizations optimize their HR processes, gain insights into their workforce, and make data-driven decisions. In this article, we have explored the top 10 HR analytics software solutions for 2022. Each software offers unique features and functionalities to cater to the diverse needs of organizations.

From Workday HCM and SAP SuccessFactors to Oracle HCM Cloud and BambooHR, these software solutions provide robust analytics capabilities to support various HR functions, including talent management, workforce planning, performance management, and more. By leveraging these HR analytics tools, organizations can enhance employee engagement, optimize talent acquisition, improve workforce planning, and drive overall organizational performance.

Investing in the right HR analytics software can empower HR professionals to unlock the full potential of their workforce, align HR strategies with business objectives, and stay ahead in an ever-evolving business landscape.