If you’re like most HR professionals, you know that people analytics is a powerful tool for improving your organization’s performance. But what you might not know is how to set up your HR tech stack to enable people analytics. In their article HR’s new operating model, McKinsey & Company described the trend from “Process Excellence to Data Excellence” and clearly shows how important it is to think about the data model and the HR systems at an early stage. In this blog post, we’ll show you how to do just that. We’ll also provide tips on what data to collect and how to use it effectively. read on to learn more!
Defining your business goals and objectives is key to success. Crafting a clear purpose, strategy and value proposition provides the roadmap needed to keep you on track. As such, one of your first steps should be to identify the underlying value drivers of your organization – whether that’s market-oriented topics such as customer satisfaction or company-wide initiatives such as streamlining operations – and use them to shape your HR strategy. Ultimately, working with talented people who bring valuable skill sets should be seen as one of your core assets rather than just an expense. Taking the time to set clear objectives at the outset will pay dividends in the long run and go a long way towards helping you reach success.
Choosing the right HR technology platforms is a must if you’re looking to streamline your analytics efforts. Finding integrations that complement each other and offer an all-encompassing system will help ensure your data quality management processes are running smoothly. Furthermore, understanding the capabilities of each platform and having a well-designed data model will give you the insights needed to make decisions quickly so that you can focus on the delivery of key performance objectives. Taking the time to evaluate and choose the right technology solutions for your needs can pay dividends in the long run.
Streamlining the process and ensuring streamlined data workflow management is now easier than ever thanks to the advances in automation. Implementing those platforms for integration significantly reduces manual workload, allowing managers to focus on more pressing tasks. Not only does this lead to greater efficiency, but it also ensures that data is integrated seamlessly no matter where it’s stored, ultimately leading to accurate reporting and better decision-making.
When looking to gain insights into your workforce, data can be your best friend. Building a data model is the first step for collecting data, followed by data normalization to bring all data points into a standardized format. Afterwards comes data cleaning, which eliminates inconsistencies and abnormalities from the data. Once the data is ready, you can use it to do further analysis and discover valuable knowledge hidden within – empowering you with valuable insights and helping move towards organizational success.
A people strategy is one of the most important elements of any business, and people analytics can help inform and shape your people strategy to bring maximum value. With people analytics, you can gain insights into the hiring and retention practices that are the most effective for achieving desired outcomes such as engagement, performance, diversity and more. Having a clear understanding of what’s working and what isn’t can help you make better decisions about your people strategies going forward, allowing you to adjust plans as needed to meet changing business needs. Investing in people analytics can provide invaluable value in managing your people strategies effectively to get the most out of your workforce.
If you want to use people analytics to make better decisions about your workforce, there are a few things you need to do. First, you need to define your business goals and objectives. Second, choose the right HR technology platforms that will support your analytics efforts. Third, implement those platforms and ensure they are integrated. Fourth, collect and analyze data to gain insights into your workforce. And fifth, use those insights to make better decisions about your people strategy. Our people analytics platform can help you with all of these steps. Sign up for our waiting list today to get early access to the platform so you can start making better decisions about your workforce sooner rather than later.
Request a personalized demo on your unique challenges and we’ll discuss your organization’s specific needs. Or explore our use cases and learn how you can take people analytics to the next level in your organization in no time.