Key Trends In People Analytics: An HR Perspective

People Analytics

HR teams have adopted the skill of analytics at large. One of the key trends I believe is to build a people analytics functions. Organizations have realized the importance of a dedicated people analytics function for producing insights from complex data. This is gathered across varied employee lifecycle. Investment in the analytics of the people is on the rise and data integration and insight is main objectives as many organizations recognize the reason for a standing function is the level of effort which is involved in successfully driving the production, distribution and adoption of reports, insights, and analysis. It has been found out that some of the participants report the creation or maturation of the function of people analytics is a strategic priority. While on the other hand, some reported of already having a people analytics function.

Data Governance

There is a good amount of dissatisfaction to data governance with current way of analysing the people data. The critical component in building a sustainable people analytics capability is to create a data governance approach in order to address processes. This is done for the process of standardization and for developing enterprise-wide agreement on formulas, definitions, hierarchies, hike and maintenance. Still, at the end, the impact of poor data governance becomes visible. The technology company that cannot define who an engineer is, need to determine what is to be done. The professional services firm who does not have any defined managerial hierarchy needs to identify the place where an individual need to report and so on. There is no or lease satisfaction with the governance.

Building Target Benchmarks

The next key trend in human analytics is to build a target and benchmark into the tools of analytics. Organizations these days increasingly invest in analytics technologies in order to integrate and visualize the data of the people. On building the reports, the next step is to compare to obtain metric results and have them available in the initial step. It is hence extremely important to provide context to the data. The benchmarks which are added to the reports help in setting the context for enabling you to evaluate how a measure is stacked up against organizations in a particular region. They can help an organization to establish targets. To establish these targets is not always easy even after benchmarks have been established. While considering the targets, it is very important to assess the variability within the organization, the historical trends, the strategies of people and business and also the differences in benchmarks.

Predicting the Risk

The next key trend is to take predictions of flight risk up to the next level. This is one of the foremost objectives of varied HR departments. Many companies who have previously built such models realize that it is not the end of the journey, rather the beginning. I have often seen a significant gap of skill in the ability of business partners for effectively interpreting and using data. Another trend that can be seen is the rapid integration of adopting increased number of integrated cloud-based HR systems which gives an opportunity for looking at the HR data in an integrated way.

Author:
Hands-on, dynamic and energetic executive, Amol has a multi-year experience in diverse technology industries and functions, in both Sales and Marketing and Operations. Engineer by graduate and an MBA professional, he started his career in 2004 as a Regional Sales Manager for one of the largest US MNC based out of India continues to live his passion for sales till date. Currently an eLearning and LMS consultant and & Board Member of Knowzies Technology Solutions, his responsibility is to manage the company's growth in the Americas, India and APAC, and encourage its Global expansion through his network of 1000+ qualified Elearning and SaaS experts. Amol is a serial blogger and a have delivered many webinar’s in his past engagements. He likes to write largely about latest eLearning technology trends, mobile learning, and learning technologies. His passion for eLearning makes him the perfect blend for designing solutions for large enterprises especially where the cost is the constraint. Prior to his current venture, Amol had a blast leading the International Business Operations for various leading LMS and eLearning organisations globally. Amol successfully managed a talented pool of professionals and partner companies (Channel network implementation) enabling the acquisition of many leading enterprises. A solid credo in business ethics and knowledge sharing are its key business drivers. He is what the Urban Dictionary would call a straight shooter, enjoys playing cards on the table and doesn't deal with fuss. Big in creating new connections and value to its network (because the network is quite everything), he is hungry for innovation and falls in love for true out-of-the-box thinkers. Cricket and food are superior passions. Loves the family and is blessed with two happening daughters and a caring wife. Over weekends you will find him in kitchen experimenting with new dishes. In case of any queries, you can reach to him on amol@knowzies.com.

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