People analytics also known as “HR analytics”, it is data-driven side of HR, it is all about using data to improve the way you manage human resources in your company. It’s becoming an increasingly important part of the human resources field. While many organizations collect at least some data, not all of them have the right procedures in place to leverage this data to its full potential.
In Human Resources, soft skills like conflict management, communication, and decision-making are considered key assets. But hard skills are also an essential part of the field… particularly in the modern business landscape, where increasing quantities of data offer new insights for decision-makers.
Using HR data can help leaders make more effective decisions, while also reducing bias. Rather than making potentially biased or incorrect calls based on gut feeling, HR professionals can instead rely on data collected from their employees or job candidates. They can use this information to better understand the past and present, predict future trends, and choose the best way forward.
People analytics/HR analytics is about applying those data analytic methods to human resources challenges.
This cyclical process as following:
- Identify human resources challenges and goals
- Implement the right solutions for HR data collection
- Analyze the data using appropriate models
- Draw conclusions and act accordingly
Why your company need DDManta’s People Analytics?
There are a lot of good reasons to make DDManta’s people analytics a part of your business.
Main benefits of people analytics—namely, more effective business decision-making, increased objectivity, and reduced bias.
So how can you create an effective people analytics strategy and experience these benefits for yourself?
Here’s what you need to do:
1. Evaluate Your Needs
The first place to start with people analytics is to determine what your company needs.
Is there a specific business challenge you’re trying to confront (for example, improving employee retention)? Or do you want to focus on a certain part of your HR strategy, such as recruitment or performance management?
2. Data Sourcing and Collection
Based on your company’s needs, you can come up with appropriate solutions for data sourcing and collection.
For example, if you’ve decided to focus on recruitment, you could begin using a data-driven selection assessment as part of your hiring process. Assessments can help you evaluate candidate competencies. They can also provide valuable information about personality, reasoning ability, and risks.
On the other hand, if you wanted to focus on employee happiness and company culture, you could distribute satisfaction surveys via your human resource management system. Or you could analyze data from a digital performance management system—a key focus since more employees began to work remotely during the COVID-19 pandemic.
3. People Analytics Tools
As described above, effective data collection is based on choosing the right tools.
The first step in this process is to evaluate the tools you already have in place. Perhaps you’re currently using an internal HRMS, or an applicant tracking system. Maybe you’ve already begun collecting data from employee surveys, but need help organizing it. On the other hand, perhaps you don’t have much data to work with at all yet.
Based on your evaluation of your company’s needs, you may want to consider investing in DDManta’s People Analytics tools.
4. Privacy and Informed Consent
Privacy and consent are at the heart of a successful people analytics strategy.
Employees or candidates should understand which of their data is being collected, and how it will be used. They should also give their permission for it to be used. Your company should have appropriate cyber-security measures in place to prevent unauthorized use of data.
In some jurisdictions, there are specific regulations governing data use. A prominent example of this is the European General Data Protection Regulation (GDPR).
Complying with legal regulations and making sure all stakeholders understand the requirements for compliance, is essential when creating a people analytics plan. Companies should develop internal policies and guidelines to this effect.
5. Cleaning and Organizing Data
Once you’ve put the right tools into place to gather data, it’s time to figure out what to do with all the information you’ve collected.
Raw data isn’t always useful on its own. Depending on how it was collected, it may need to be organized in a spreadsheet or database. It may also need to be “cleaned” (checked for duplication or inaccuracies).
6. Data Analysis and Modeling
After data is in a usable form, it is ready to be analyzed. To extract useful insights from their data, companies should identify the appropriate data analysis models for their business goals.
7. Building a Data Culture
The companies that are most likely to succeed with people analytics are those with a strong data culture.
Having a “data culture” means having an organized process in place to deal with data. It means that data isn’t just collected, it’s also regularly used to make decisions.
To build a strong data culture, you’ll need to make sure that all stakeholders in your company understand your data program and buy into it.
If you’re wondering whether your business has a strong data culture, you can take our Data Culture Readiness Survey to get an idea of how you’re currently doing.
8. Skills Required for People Analytics
Building a data culture isn’t just about having the right tools and getting buy-in from stakeholders. It’s also about having the right human resources to run a people analytics program.
In some ways, the skills needed for people analytics are similar to those needed in any HR function. HR professionals need to have a solid understanding of business needs, and they should be able to communicate and evangelize new initiatives throughout the company. They should also be able to solve problems and negotiate between different individual perspectives. All of these skills are necessary when setting up a people analytics program.
DDManta’s experts understand statistical modeling and data management, we can help you to launch a people analytics program, to present strategic and analytical insights for the human side of your business through tracking key metrics and APIs.
With DDManta’s robust People Analytics dashboards, you can:
- Create pie charts, graphs, interactive maps, and more with just a few clicks.
- Build a dashboard once and make it instantly available on any device.
- Tell a story with your data with your own custom layouts, colors, and commentary—all with no coding and changes available instantly to users.
- Know you always have current reports with real-time data updates.
- Access your dashboards from anywhere–computer, tablet, or phone.
