It’s becoming increasingly important to utilise the right HR tools to gather and analyse data in order to identify gaps and opportunities.
However, according to Deloitte’s 2021 Global Human Capital Trend’s respondents, only 26% believe they’re effectively using technology and analytics to improve their teams.
It’s time to turn that around.
The main role of people analytics is to provide an organisation with greater insight. This data makes it so much easier to make predictions and people-centred decisions. It also helps improve business performance, employee experience, and overall well-being.
Employee data ensures HR leaders are better equipped to take action and create a great working environment for their human assets. When organisations start utilising people data in innovative ways, like improving team alignment and experimenting with roles, they can achieve a more holistic view of the business and employee needs.
Top 4 benefits of people analytics
There are several positive reasons why leaders should make people analytics a part of their business. We’ve listed 4 key benefits below:
Insightful learning and development decisions
Adopting an analytics approach allows HR leaders to gain a deeper understanding of their people and their needs. It also plays a key role in helping them navigate their futures by identifying where employees require more support, what type of learning style is most effective, and where their current skills and competencies lie. This way, you can deliver targeted training programs and help your assets improve progress towards their career development goals.
Optimising strategic workforce planning
Data-driven workforce planning enables agile decision-making around talent, capability, and workforce planning. It focuses on assessing current hiring needs and predicting how those needs will evolve. Leaders are able to make better-informed decisions, allowing them to develop a strategic plan to address workforce challenges.
Workforce analytics also plays a significant role in succession planning across all layers of the business as well as helping to recruit talent that aligns with the company’s goals and future direction.
Enhancing the Employee Experience (EX)
When you can identify what your employees want, you can make better people decisions – improving EX and driving increased engagement and loyalty. People analytics can provide insights into:
- employee behaviour
- employees’ needs and wants
- alignment to role and purpose
- how to improve wellness initiatives
- trust and retention
When you take the time to truly understand your employees, you can consistently provide an exceptional EX for everyone. When the EX is optimised – collaboration, high employee productivity, and engagement will flourish.
Assist in career progression and growth
According to a recent study by Oracle, 73% of people in the workplace feel stuck professionally, because they don’t have growth opportunities to progress their career. Therefore, it makes good business sense for managers to use employee data as part of their retention strategy. You can use it to uncover training needs and create tailored development plans – and show your humans you’re keen to help fulfil their individual career goals. Analytics are also useful in evaluating performance. Once the data is reviewed, managers can provide timely feedback to employees and identify gaps and potential to really maximise opportunities ensuring that there is a win-win for employers and employees.
In summary
The power of people analytics in everyday business decision-making is obvious. However, it is imperative that you are able to leverage the data and create executable activities to really maximise the potential.
In this new human-centric era, embedding a simple, digital representation of your human footprint is key to ensuring an engaged and productive workforce.
That’s why Humanico created the world’s first, digital interactive human map. This approach, which fuses data visualisation, science, and experience, is an innovative and intuitive platform. The combination of workforce capability, along with elevated employee engagement, delivers a solution that maps your business strategy to your people capability.
For more information about how Humanico’s unique talent management software can turn your greatest asset into something even greater, get in touch with us.
