Do you want to take the stress out of people decisions? We can help you make more informed decisions and develop HR strategies to tackle anything from recruitment to turnover.
Acknowledging the amount of data available in the world, many businesses have started to apply the principles of using data to inform various strategic and operational decisions, and experienced a considerable impact on their business performance.
Having witnessed the extensive impact that big data has had on the bottom line of many companies, human resources departments have started using their people data to make robust people decisions in recruitment, retention, discipline and talent management. In doing so, people analytics is helping to raise the strategic profile of human resource management in many companies.
If organisation leaders have access to more advanced and comprehensive information than their competitors, they will be able to make the right decisions to get ahead of the curve. The possibilities for how to make best use of the sheer volume of data each employee generates are infinite. So where do you begin?
Not just for recruitment
There are many ways to implement people analytics at various stages of the employee lifecycle:
- Employee retention
- Training and development
- Succession planning
- Engagement and motivation
During the recruitment stage, data analysis can start to reveal your cost of hire and recruitment, which interviewers brought on the most successful new starters, the advantages or disadvantages of different stages in the recruitment process, which characteristics predicted better performance and whether a particular profile is suitable for the role or the culture.
You can also look at the existing talent within the organisation and start to build a person specification based on characteristics that have predicted performance in your current workforce. You can explore the talent and skills gaps within the organisation and recruit to fill any gaps, or train and develop your existing talent into those gaps. In addition, succession planning can be data-driven, as this can help to examine the high potential talent that is closest to the roles that could require filling in the next 3, 5 and 10 years.
People analytics can also assist with change management programmes by identifying the culture or performance of the company at the beginning, then measuring differences upon project completion.
Managers and leaders can also use data to evaluate their departments and direct reports. People analytics can help leaders to communicate their vision in a way that will suit the majority of the organisation, whilst also identifying those who are more or less engaged, understanding how to motivate employees and provide a more preferable working environment, planning appropriate reward and discipline strategies, and finally monitoring and measuring performance.
Understanding your culture
We can work with you to examine the profiles and characteristics within your business to work out what contributes to good performance in individuals, teams and overall for your organisation, and the intricacies that are inherent within your company. By exploring the overall profiles of the organisation you can start to explore the culture of the organisation, the strengths, the challenges and the skills gaps. This information can then help to create, refine and implement strategy and therefore to drive change and direct recruitment and development decisions.
People analytics, big data analysis, benchmarking and human capital audits are all one and the same – harnessing the power of the information that your employees generate from their first day within your company (and even potentially before they walk through your door).