PNN
Bengaluru (Karnataka) [India], May 20: As part of the International HR Day initiatives, greytHR, a full-suite HRMS platform provider, has released the 2024 HR Ratio Insights Report for India. The report explores how companies across various industries and sizes manage and invest in their human resources.
Analyzing HR-per-employee ratios from 10,000+ Indian businesses, greytHR uncovered their diverse approaches toward HR management and the implications of these strategies. An essential tool in workforce planning, the HR ratio is calculated with this formula: Number of HR employees / total number of employees x 100. The study involved anonymized and aggregated data, ensuring no personal information was accessed.
As per the study, knowledge industries, which rely heavily on skilled knowledge workers, show higher HR ratios. In IT/ITeS, the HR ratio is 3.91 for every hundred employees, and in Business Services, it is 3.69. In contrast, it is 0.67 in Hospitality and 0.89 in Retail. Both these industries often require different skill sets, and hence the variation in HR ratios.
When it comes to company size dynamics, smaller companies (fewer than 250 employees) exhibited higher HR ratios. The HR ratio for companies with 101-250 employees is 4.43, while companies with 1001-9,999 employees is 1.34. As companies grow, there's a visible trend of decreasing HR ratios, partly due to the adoption of automated systems.
"While our report focuses on the current state of HR ratios, the role of emerging technologies, like AI and automation, in shaping future HR practices cannot be overlooked. Therefore, the current scenario demands a new breed of HR professionals who are strategists first, equipped to harness AI for deeper employee engagement and strategic foresight," stated Girish Rowjee, Co-founder and CEO, greytHR.
This study by greytHR reveals how HR ratios differ across sectors and company sizes, and the varied roles played by HR. The findings show that very high and very low HR ratios can impact employee turnover. Hence, optimal HR staffing levels are crucial for maintaining employee satisfaction and organizational stability.
The methodology and findings of the '2024 HR Ratio Insights Report in India' can be found here.
greytHR (https://www.greythr.com/): greytHR is a Full-Suite HRMS, with THE most advanced Payroll and Workforce Management in India and MEA.
greytHR simplifies, expedites, and even automates complex, recurring, and yet critical functions of HR and Payroll, in a compliant and secure way. greytHR offers productivity tools for better people management, simpler HR processes,and professional delivery of HR and Payroll services.
While it has a vast portfolio of HR products, greytHR's deep product expertise is in Administrative HR, Payroll, Workforce Management and Employee Engagement. The platform also offers an app marketplace (to enable affinity use cases), mobile ESS, and lossless implementation. While other HR products barely scratch the surface, greytHR has productized deep and complex HR tasks.
greytHR software is currently used by 23,000+ organizations and 2.3 million users in India, and 25+ countries including UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain.
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