According to data from Deloitte, 71% of companies consider people analytics a high priority for their business and more than 70% have invested in improving this area. But if you haven’t heard about people analytics yet… Don’t worry! In today’s article we talk about the metrics that people analytics measures and the advantages it can bring to your business.
What does People Analytics measure?
Activity and productivityPeople analytics allows you to know what your employees do on a daily basis, this helps you to detect employees who perform well to understand their way of working and to explain and show their work methodology to people who perform less well or are not meeting their professional objectives. It also allows you to determine whether a worker is spending the right resources or spending too much when doing his or her job, which helps you improve efficiency in your business.
Motivation, job satisfaction and commitment to the companyIt can also help you understand the motivations of your employees so that you can use them in your talent strategies, and it allows you to check the impact that the actions taken by the company have on these motivations. On the other hand, it allows you to know the employee’s satisfaction in their job and the reasons (satisfaction or dissatisfaction, it is also very important to know why an employee does not feel comfortable in their workplace), this information will help you to take measures to prevent employees from leaving your company before a job offer that seems better for them.
Analysis of competencies and their acquisitionPeople analytics allows you to identify the basic skills or competencies your business needs. Not only that, it can also help you compare them and generate initiatives to fill the gap. In addition, the analysis of skills acquisition allows you, on the other hand, to evaluate how well or poorly your company is acquiring the skills it needs.
Employee turnover analysisOn the other hand, it allows you to determine turnover rates in order to obtain future forecasts and to be able to reduce them. The key is to identify the healthy level of turnover and develop a system to identify when it may be a problem. In addition, when you see that turnover is a problem or that it is very high (data you get from people analytics), you can focus your attention on improving and seeing where the problem lies.
Analysis of corporate culture: It allows you to assess and better understand your company’s corporate culture, as well as to track changes in culture that you would like to make, detect toxic situations and ensure that you are hiring profiles that fit your business culture and values.
Recruitment channel analysis: Doing a recruitment channel analysis will allow you to determine where your company’s best employees come from and which channels are the most effective. You can extract the information from surveys and interviews of new employees, employer branding, job sites, etc…
But this is not all, what we have shown you are just some examples explained briefly and without going into the “how” or its relationship with business KPIs, but people analytics is infinite and can give you data and answers to many of the questions that may arise for the management and work of your team, the limits are set by yourself.
Advantages of people analytics for your company
- Hire better
- Employee loyalty
- Improve productivity
- Pleasing your employees
The people analytics is therefore a major leap in the HR field and requires specialized professionals who understand various aspects such as the inner workings between employee lifecycle events, statistical tools, analytical tools and data business intelligence.
And you: Do you use people analytics in your business? Did you know the advantages that this method of analysis can bring to your company?
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