People analytics is all about people and data. People are bundles of emotion, relate better to stories than data. Emotions are subjective, anecdotal, biased by words. They blur the line between right and wrong based on the strength of the personality. Data is clear, objective, measured, analytical, binary and does not make subjective determinants. So, do we rely on emotions or people analytics?
The biggest struggle for organizations that lead to their downfall when they grow rapidly is the “silo effect”. One strong leader in a team drives selections based on personal choices. Soon the organization starts looking like the United Nations with lip service to the core objectives of the business.
People analytics is now a serious business
Data science has moved into upstream segments of HR. The focus has moved from maximizing revenue aspects on the customer side with customer behavior, analytics, predictions and buying patterns and drivers of customer satisfaction to the organizational internals and engagement of your employees. Happier employees lead to happier customers has never been more true.
Where can we apply people analytics?
The basic tenet is to apply people analytics to all organizational decisions from talent acquisitions, engagement, performance management, pay for performance, ROI, customer engagement and driving EMPSAT scores as one does for CSAT scores.
However, progress has been slow with the dearth of talent, specifically on data science, locked up in large tech companies focussed more on customer acquisition, behavior, churn, retention, and other predictive marketing analytics.
A whole lot of data has being accumulated albeit locked up with lower priority in the past due to priority allocations, budgets, resources, tech and innovation to human resources as a function. Management is getting impatient with HR not being able to craft the people story specifically the ability to speak in numbers as other functions of the organizations have been able to do.
Most progressive companies are realizing this issue
Companies are now allocating higher spends and energies to get a true talent picture. People analytics is now suddenly a core component in an organizational strategy map.
The criticality of key talent, potential, engagement, retention as a risk has suddenly come in front and center as teams realize the value of their star performers and the impact of losing them to competition.
Organizational culture as a literary topic
There is no one single recipe that fits the bill when we get to talk of organizational culture
Each organization is different, be it their location, domain, vision, go to market, availability of talent, culture. Moreover global organization now have pockets with different cultural sets and drivers. It does become difficult keeping all in one basket. A lot more individual and group behavioral collaboration parameters also drive culture.
How does an organization that cannot afford to hire and allocate big data specialists, data scientists, programmers to specifically work on their HR technology systems achieve parity by competing in a marketplace where data is abundant but tools that customize and cater to specific experiences are few and far between?
How peopleHum can help your organization
Enter cloud based technologies where customers are tenants.
You buy tenancy and the platform will enable you to get all your people data in one place. It will produce a set of actionable insights and dashboards leveraging this data using the latest in people analytics. Moreover, richer insights, dashboards and more intelligence add to the platform without you having to lift a finger.
Platforms like peopleHum provide for excellent opportunities at a value offering for you to gain parity with the best in the business in applying talent insights and people analytics tailored to your need. Leverage the power of a true people platform
To know more, visit peopleHum
Also, read our blog on AI and HR