Companies are doomed to renew or die constantly. We live in a world that continues to evolve and organizations must keep pace to stay in the market.
Each year, new needs are discovered based on the evolving way of understanding the company’s business and managing employees and talent. Because of globalization, companies had to introduce technology gradually.
By implementing these digital processes, organizations have been collecting information to be competitive in this time of transformation and uncertainty. There is a huge advantage to having data so you can analyze it.
Collecting and evaluating model data is a reliable way to obtain a source to extract the causes of problems, predict future trends, and make decisions. But, what information do we need for the company, where do I get this information from and how can I apply this form?
People Analytics is a term that refers to the analysis of people in a company. It consists of the application of metrics related to people management. Through the data, he measures performance and talent at work.
Benefits of People Analytics
People Analytics is a research method by which data is extracted from company members. The objective is to study this information and perform intelligent analysis to reach conclusions in a reliable, objective and unbiased way.
This study uses statistics, mathematical operations, and predictive models to interpret employee data. This makes it possible to determine where the workforce is located and identify potential errors.
As we can see, this methodology should focus on the people who work in our company. This shows that employees are the main competitive advantage. Your good management will be an indicator of success.
Thus, implementing a People Analytics strategy brings many benefits:
- Recruitment: By thoroughly analyzing the data, we can discover the exact profile of the ideal candidate. People Analytics increases the efficiency of the hiring process. He is able to select the talent that best fits the needs of the company and the job.
- Problem Detection and Resolution: Employees are in direct contact with the company’s operations and customers. They are the most reliable source for obstacle detection. If the right questions are asked, we can tell what kind of annoyance there is. In addition, prepare the team to face this situation in a more prepared way.
- Compensation: Employees need to feel valued and rewarded. Taking into account their salaries will improve the level of job satisfaction. Also, it is easier to determine which is the most productive. Any changes to these types of questions should be analyzed to see their impact.
- Training: Creating training programs for a company can be tricky. Everyone is different and we have different skills. The introduction of this methodology makes it possible to know the strengths and weaknesses of each one. In this way, we can individually influence the worker and design the training that suits him. It also facilitates the option to monitor the learning process.
- Company Culture: The workspace refers to various points of contact between colleagues. This means establishing social relationships. Likewise, you can understand how employees interact with each other. According to this situation, it is easier to discover the best way to adapt the team to the company’s philosophy.
- Commitment: The results of this analysis reveal what the state of mind is. There can be several reasons why a team member makes the decision to leave the company. However, even if you receive another job offer, you will always appreciate the working conditions.
- Not only the salary is taken into account, but also the tasks performed, the working environment or the possibility of development. Before this circumstance occurs, the company has the ability to recognize the signs of frustration, burnout or stress.
Steps to Implement People Analytics
This term is much broader than a simple search or chart. At first, it may seem like a complex and difficult process to enter the company. But this methodology can be implemented in 6 steps.
- Gathering Information and Identifying Opportunity Areas: In this first step, all possible information must be collected. Keep in mind that processing employee data can be sensitive information. Before starting the process, it is important to ensure that you comply with the law.
- Problem Categorization: People Analytics provides a large dataset. Companies cannot act on all of them at the same time. Therefore, it is better to identify the issues that are most important. Ranking priority issues saves time and effort. Tackling a specific topic resolves it faster.
- Collect Relevant Data: Once we have prioritized the issues to be addressed, we can consider the most relevant points to collect. Not all data have the same value. The focus will change depending on the priorities set initially. There is no point in having a large amount of data without an adequate way to divide and study it. The key to this strategy lies in big data and business intelligence.
- Data Analysis: Obtaining data is essential, but without proper analysis this task is meaningless. Good planning of the process and how to study the data is essential. Correct implementation of the procedure will affect the results.
- Creating a Strategy: Examining the information, the organization must create a roadmap. A form of action for changes to occur. The business plan must be well thought out and take into account any inconveniences that may arise along the way.
- Be Aware of Changes: To ensure that this transformation is implemented as we wish, it means being aware of changes. There can always be aspects to reorganize or rethink. Attention and correction of possible deviations are essential if we want to avoid failures.
It may seem like a complicated concept to implement. Large companies have many employees and their needs can be very different. For this reason, tools like Sesame HR have People Analytics functionality. With this HR software, you will be able to comfortably manage your company information and compare data between departments.
