Not long ago, the word "people analytics" would elicit a lot of head scratching and blank eyes in the office. People analytics is now at the heart of Human Resources, just a few years later. People decisions in a business are today more analytical and data-driven than ever before, much like any other management discipline.
People analytics has also progressed in recent years, progressing beyond HR system reports, headcount, vacation leave, and sick leave data to more advanced capabilities such as talent management and workforce planning. Having and employing well-functioning people analytics is critical for high-performing firms to win the fight for talent.
Companies have been a flurry of activity in the previous several years, adopting or striving to enhance their people analytics approach. Companies have been investing in a variety of people analytics tools and technology to get insight into the productivity of a more distributed workforce, identify and handle retention difficulties, or inform more sophisticated workforce planning. They want to have a direct influence on critical cost and revenue drivers, better organisational decision making, and more effectively use human capital analytics to differentiate themselves from competitors in the market by doing so.
According to the data of Mckinsey and Co.
80% increase in recruitment
25% increase in the business productivity
50% decrease in attrition rate
Common Challenges to People Analytics
Lack of focus on pressing issues
Initial pilot projects frequently fall into a "safe" zone where the team and analytics leaders are confident in the data quality and breadth of their relevant analytic skills. These initiatives frequently rely on data sources under the HR organization's direct control and employ tried and reliable analytic methodologies and visualisations. This strategy appears to make sense on the surface: no one wants to risk their maiden ventures into a new area and connect with important stakeholders if they are unclear about the veracity of the data they are utilising or the quality of the analysis.
However, one essential aspect that is sometimes absent from these early initiatives is a clear link to strategic value. Without such a relationship, people analytics teams might waste precious time and money on initiatives with little benefit. Furthermore, without a mandate related to a real organisational problem, it is doubtful that the project will receive the time, attention, and, probably most crucially, resources required to create practical solutions.
Identifying use cases that meet key HR and business executives' concerns is critical to overcoming this barrier, boosting the chance of early people analytics success, and retaining momentum further down the road.
Difficulty communicating insights
A schism between the people analytics team and its intended audience can bring early workforce analytics programmes to a halt. Analytic practitioners are frequently well-versed in the language of statistics, artificial intelligence, and machine learning, but they may be less skilled at constructing a message that non-statisticians can understand.
One technique that might assist bridge this gap is to use "translators," people who have experience taking complicated concepts and putting them into clear and accurate visualisations and graphs to help stakeholders comprehend analytic results.
In addition, HR analytics departments can deploy interactive dashboards that enable stakeholders to engage with data on their own and try out various scenarios and assumptions. The visceral action of altering data may frequently help stakeholders understand analysis and find connections between different data sets. This, in conjunction with coaching from the people analytics team, may assist executives in understanding how to properly visualise and analyse data in order to make better decisions.
Overcoming executive bias
Even if businesses focus people analytics initiatives on important topics and successfully convey analysis results, the fact that people analytics is a new capacity might cause unease among senior stakeholders.
Early participation of leaders on several fronts can assist in raising awareness of and overcoming old assumptions and prevalent prejudices. Indeed, our research on people analytics discovered that high-performing firms spend significantly more time on stakeholder management at the "bookends" of the analytics process than their lower-performing counterparts. ii This means they spend more time with customers early in the process, identifying obstacles and establishing demands, and later in the process, sharing insights and action planning.
Reaching out to informal influence leaders inside the firm to share results before engaging with senior stakeholders is another technique for overcoming executive bias. Gaining support and validation from people leaders' trust may assist analytics practitioners acquire credibility, which is especially important when findings contradict an executive's preexisting assumptions.
Tools of People Analytics
Tableau - Tableau is a data visualization tool that is widely used in the HR circles. The products allow you to pull data from various sources and then use a range of tools to create real-time analytic dashboards and visuals.
Visier - Visier is one of the most robust people analytics tools on the market. The tool allows organizations to understand everything about their people across the employee life cycle – from the time of onboarding to offboarding.
ChartHop - ChartHop has advanced from an organizational chart software to a people analytics solution. The tool provides a comprehensive package, from understanding diversity, compensation, attrition, workforce planning, and all-important HR metrics.
Sisense - Sisense builds custom analytic experiences suitable for assisting a wide range of organisations leverage their competitive advantage. It has two platforms. The first, Sisense Fusion Analytics, merges business data and strategy. It also allows you to augment your insights using predictive analytics, AI and machine learning.
Lattice - As well as tracking your people analytics, allowing for better performance management and planning for growth & development, Lattice also enables individual employees to view their own profiles and see how they are contributing to the organisation as a whole.
The platform, which is best suited to medium to large enterprises, has three analytics plans: ‘Performance’, ‘Performance & Engagement’ and ‘Enterprise’. Price is calculated based on the size and requirements of the company.
At Tamãrõ HR we partner with firms to help them manage their HR functions in the right way. The team at Tamãrõ HR has experienced professionals to help you with all your HR needs from Consulting, Recruitment to HR Operations. To know more contact mail to - firstname.lastname@example.org
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