Get started with People Analytics

You may have frequently encountered this term in the world of HR management. So what exactly is People Analytics?

People Analytics used synonymously with HR Analytics and Workforce Analytics refers to the process of collecting and transforming HR data and organizational data into actionable insights that improve the way business functions.

People analytics aids organizations in making crucial decisions like hiring, firing, promotions, performance evaluation based on real-time data rather than following just gut instinct. It allows business leaders and managers to make evidence-based decisions, centered around the analysis of data and focused on something more sustainable, reliable, and forward-thinking than what they have typically used to make people decisions in the past. 

Despite 74% of organizations saying HR technology is important to them, only 26% of Deloitte’s 2019 Global Human Capital Trends respondents say that they feel they are effectively using technology and analytics to improve their teams.

Leveraging people analytics enhances the productivity of an organization and creates a positive employee experience. 

1. Get your organization ready for the process

The analytics team should be proficient in work psychology, data science, communication, data mining, machine learning, and HR. 

2. Understand the need for mining data

Evaluate different functions of your organization and analyze where and how you can use this crucial data. The entire exercise will be futile until you use the data for some purpose.   

3. Develop a standard procedure

Develop a standard operating procedure and store data in a centralized system that can be accessed by the right team.

4. Interpret data 

It is important to take proper actions based on the data obtained that can be used for developing the organization further.

HR functions are rapidly evolving with the adoption of technology in various industries. It helps you in making data-based decisions, hire smartly, and run the organization’s processes more effectively. People analytics is an important tool that companies must use to gain maximum momentum and is going to be a major gamechanger in the future.

Paylite? Human Resource Management Software is an end-to-end HRMS system to meet the ever-growing needs of modern-day workplaces. It makes your HR process smart and swift, replacing paper-based actions with system-driven workflows. It uses state-of-the-art technology from Microsoft to make your organization run smoothly. To know more, book a free demo: https://www.paylitehr.com/request-demo.html