HR Analytics: Serbian Perspective

Abstract

The explosion of new business models is not only the consequence of the accelerated development of information and communication technologies but also of a global crisis. Disruptions such as the COVID-19 pandemic have made managers realize faster that change is necessary and has already taken place. Traditional Human Resources (HR) models were not ready to respond to the challenge of digital transformation. The “new normal” implies a new set of necessary skills, capabilities, and a different working environment. Companies face the challenge to innovate HR functions by developing new career paths and creating more flexible models and relationships with different stakeholders. Most business leaders have become aware that it is impossible to carry out a business transformation without quantifying HR functions. HR analytics is on the business agenda, and it is the fastest-growing area of HR Management today, driven significantly by global crises, and it will be more crucial for organizations’ decision-making on how to proceed to the “next normal”. The paper defines HR 5.0 as the future of HR, in the framework of Industry 5.0. It attempts to study the state-of-the-art HR in order to explore the current status and perspectives of HR analytics in Serbia and points out the approach that radically transforms the use of human data by policymakers; moreover, it defines one set of conceptual recommendations for successful HR implementation.