Building People Analytics in Modern Organizations
In today's fast-paced business environment, organizations need to make data-driven decisions to stay ahead of the competition. This is especially true when it comes to managing their most important asset: their people. To achieve this, forward-thinking organizations are turning to people analytics.
Data is absolutely key to everything we are doing. It is not just related to one dimension of the (People) function. It is needed in all areas and fuels the insights that help us make better decisions in all aspects of the business - Kathleen Hogan , Chief People Officer at Microsoft in Digital HR Leaders Podcast .
It's a common belief that people analytics serves only the HR department, but its purpose is to bring value to the entire business. The Insight222 research shows that:
When leaders in people analytics focus on critical business challenges and strategic opportunities, they can have a greater impact on business leaders and their decisions. In today's economy and work environment, it's becoming increasingly likely that companies will turn to people analytics to make informed decisions and create greater business value.
Build what people really need
User-focused people analytics
To build an effective people analytics function, it is essential to focus on what people in organizations need. To maximize the effectiveness and acceptance of people analytics tools, a collaborative and user-focused product management strategy is crucial. This approach should prioritize incorporating feedback from both employees and business leaders. It is essential to involve users in the design and development process to ensure the success of a product. A cyclical approach of testing and incorporating their feedback can significantly improve the outcome.
Prioritizing speed and scalability
When establishing a people analytics function, it's important to prioritize speed and scalability. Instead of trying to fix every data quality problem, focus on the ones that will contribute to the development of the product. This approach allows the people analytics team to provide value right from the start in a productive and efficient manner.
Simplicity first
To maximize the effectiveness of people analytics, it's important to keep things simple and focus on the needs of the end users. Avoiding unnecessary complexity and prioritizing the user experience can lead to positive outcomes. Once successful outcomes have been achieved, it's important to share these results throughout the organization, emphasizing the positive impact on the company.
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Data and analytics capabilities
To maximize the benefits of people analytics, it's crucial to have strong data engineering and data science capabilities within the function. By having the right skills, resources and tools, organizations can ensure they have the necessary expertise to create and maintain effective people analytics.
Tell the story
To make the most of people analytics, it's important to tell a compelling story. When sharing data with others, it's crucial to create a narrative that helps them understand the valuable insights the data provides. To craft a captivating story, it's essential to consider these key elements:
Set the scene
To effectively communicate a people analytics story, it's crucial to set the scene and offer background information that allows the audience to fully understand the importance of the data being shared. This could entail covering the business issue that the data aims to address, the relevant stakeholders involved, and the objectives of the analysis.
Extract the noise and show clear insights
To truly engage the audience, it's important to highlight the most compelling and meaningful insights that the data reveals. These insights can help simplify complex issues, challenge assumptions, and uncover opportunities for improvement.
So what? Call to action
To effectively communicate people analytics findings, it's crucial to provide a tangible plan of action for stakeholders to follow. This should involve specific recommendations that are based on the insights that were discovered during the analysis. By offering a clear and concise conclusion, people analytics teams can ensure that their discoveries are implemented and result in meaningful changes throughout the organization.
People analytics is rapidly becoming an essential function for modern organizations. By focusing on what people need, building scalable and user-focused people analytics, and investing in data engineering and data science capabilities, organizations can create significant business value. It's also crucial to tell a compelling story that engages stakeholders and provides clear recommendations for action. Data plays a crucial role in every aspect of a business and HR needs to adapt. By leveraging data and analytics, organizations can make informed decisions and stay ahead of the competition. As such, investing in people analytics is essential for any organization that wants to thrive in today's data-driven business environment.
People analytics is something that many organizations need to leverage and Lanteria HR can certainly help in building this data base to unlock the potential of the employee.