People analytics is referred to as a deep study of people-oriented parameters and behaviours. The data helps you understand and predict future actions better and improves decision making.
Studying and making the HR and people analytics can be critical to any organisation. A gamut of HR experts can be seen leveraging people analytics to improve human resource management. This blog will cover an in-detail report of people analytics and practices in making it more user friendly.
This will further help you develop your HR practices and make HRM at your place a success.
Define – People analytics
People analytics is often referred to as HR analytics or human resource analysis at an organisation. It is the collection of people data related to their performance, analysis, challenges, etc.
Further study of people analytics and making it more friendly with users can help business owners in sustainable improvement of their business. Continuous improvement and developed analytics help in making employee experience better and retention is no concern.
Since its first use in mid 20th century, people analytics has come very far and developed as much to allow predictive analysis to contribute into HR management.
People analytics AKA HR big data is all set to rule people management and retention in coming years.
How can people analytics be made more user friendly?
People analytics must be aligned and matched with user needs and thoughts. The analytics and reports must fulfil their pattern. Also, it must be useful to HR leaders and internal customers.
The requirement here is to design the whole process revolving around HR and internal people. In simple words, HR/ people analytics must be adhering to employee engagement and their insights. From framing the process to actual implementation, everything must be planned at the earliest.
And lastly, the outcome must bring benefits and improvement to the business to signal success.
The intuitive process of people analytics involves:
- Focus on relevant data
- Test and Run
- Compliance management
- Avoid complications
- Measurable HR strategy
- Techno – support
Focus on relevant data
Focusing on what is beneficial and relevant to you can save much of your time and efforts.
This allows you to save costs & resources by only investigating areas that need direct monitoring, such as operational tasks, targeted hiring, and similar. This would guarantee tangible benefits to business in no time.
Studying a data that is irrelevant or could bring no profit in future, is simply a wastage of time and efforts. Targeted data mining, strategic planning, workforce analysis, are some practices to tap right mark. Smaller the area, larger is the pressure and thus, outcome.
Test and Run
Today, the market has got millions of options on data mining and strategic software. Finding a reliant and affordable tool is not difficult. Whereas, finding a solution that fits your business requirement and scalable software is the real challenge. The software features may include cloud compatibility, mobile interface, self-service, reporting, and much more.
Here, you need to look for a minimal and required functions in the software. Free trials of software could help you know the right fit. Do the A/B testing and adopt one.
Once you come to know what your prime goal is, your relevant data, and what the available options are (based on test and run step), create an action plan. Big data and predictive analytics usage often help in making the action plan accurate and helpful. Talent management, leadership development, and organizational deliverables are some parameters to improve.
Preparing a well-defined plan of action enables a better understanding of why certain changes may be taking place and where the organization is heading and can thus, help obtain people support.
Be it HR or payroll, adhering to compliances and legal issues is the most critical job. Ensuring legal compliance is maintained in the collection of all data is prime duty. Before you start on the analytics project, have a legal team to validate the data.
Not just this, once the raw data has been gathered and treated, the results gleaned need to be approved as well before they are published and processed. In this hourly changing world and continuous digital transformations, keeping a check of compliance and data security stays at the top of priorities.
Irrespective of the task complexity, the broader strategy that the processes must adhere to, needs to be simple and lean. The basic process of data mining & analysis and interpretation should allow for easy reading, understanding and application.
Create a basic outline of your plan and factors affecting to keep a track. Whether the plan is on track or off track, a simple work flow will help you know. This will help you save time on your plan keep efforts focused on the red dot.
When you have the right plan on page and relevant people on board, it is easier to streamline the whole process and achieve goals.
Measurable HR strategy
A measurable and feasible HR plan (or say strategy) involves KPIs (Key performance indicators) that are achievable. A situation like promising over 40 customers and achieving 30 may not be acceptable. Instead setting a KPI of 20 and achieving 22 is much better.
A winning strategy needs to be backed by right data and backups. Big data like people analytics when used to set a measurable HR strategy, makes big impact.
Techno – support
Tech support is summoned as the back bone for any business activity or HR department. Technological support or software involvement can be seen almost in every aspects of life.
With so much data available and less time in hands, automation remains the only option. Do not hesitate to take a second hand assistance of software. Real time software and auto reports could help you achieve your deliverables in seconds.
Trends in People Analytics
Transformation of HR role and function
HR functions seem to be evolving with every passing day. These days, HR role is not just limited to operational and business management is new concern. Employee retention and business revenue are the new parameters in HRM (Human resource management).
HR department is one of the most important areas of business and play major roles in challenging situations like remote workforce management.
Employees are now treated as internal customers with equal importance as revenue generating clients. With curbed HR and hiring costs by effective employee-HR relations, employee turnover goes down. This eventually brings up business profit.
The importance to employee experience is new trend in people analytics and HR strategies.
In the summation, HR experts along with big data can bring in revolutionary adaptions to an organisation. User-friendly data like people analytics can be extremely beneficial to business.
This blog, therefore, explains that HR needs to more majorly upon user generated data and less on old traditional strategies. New-age HRM solution like HRMS software can help you generate strategic analytics off user data. Easy calculation of payroll parameters and compliance management makes cloud HR software a must-pick for HR people.
Hope it makes the mark. Happy people management!