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The Psychology Of People Analytics
July 2018
|Human Capital
People analytics has a futuristic role at both the strategic and the operational levels in organisations. HR must therefore take the lead to establish people analytics as a core component for the future evidence-based profession by investing in capability, in terms of technology as well as skills.
People and HR analytics are often used interchangeably, and, both these terms Prelate to the statistical analysis of people data, with "HR Analytics" used more frequently. Leaders across the world are firm in their belief that HR analytics is too narrow a realm, and, analytics goes well beyond HR since it includes financial and other business data.
Applying people analytics techniques, ranging from reporting and metrics to predictive analytics to experimental research can help uncover newer insights, solve people problems, and, make optimum use of people data that can deliver benefits not just for HR, but, for the entire organisation. It is always about people whether we are predicting employee churn, performance, ROI or long term workforce planning. HR analytics often dives into elements that are the manager's prime responsibility, and, not of HR in particular.
People analytics can help organisations in selecting the right candidates, identifying top performing employees, ascertain compensation, and, ensure employee retention. Ideally, people analytics can improve on instinct and gut feeling as well. Stakeholders, especially board members and CEOs are driving this change, from intuitive to data driven decision making, are impatient with HR teams that cannot deliver actionable information and insights, and therefore, there is a shift in the focus of analytics from mere HR metrics to an amalgam of HR and business analytics.
An Amalgam of HR and People Analytics
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