Reading Time: 3 minutes
People Management Revolution: Benefits of Data Analytics
Analyzing behaviors and opinions to detect the probabilities of success in employees will play a big role in the HR shift. Data gives us the ability to assign them appropriate objectives based on their skills.
Knowing the interests and concerns of the employees helps keeping job satisfaction high, as well as predicting possible conflicts.
Anticipating future necessities of the job must be part of a company’s mission. According to Gartner, HR analytics will be one of the key areas in the Post-Covid 19 era. It is expected that in the coming years this work culture, based on data analysis, will become an essential function in HR departments.
Benefits of people management and HR analytics
The end-goal that people management strive for is finding the crucial information for strategic decision-making.
These are some of the benefits:
- Greater internal knowledge of the company, the sector and the people
- Improved decision making
- Attracting and retaining talent
- Improved evaluation of employee performance
- Anticipation of possible conflicts
One of the keys to the success of people analytics is turning people’s feedback into real actions.
The aim is to analyze most relevant data in order to make informed decisions regarding talent strategy.
3 main pillars to focus on
In this article, we will talk about 3 main pillars to focus on:
Empathizing present and future needs of the team empowers you to be able to satisfy the team´s desires. People analytics conquers many issues such as detecting irregularities, critical failures or bad decisions as well as on the positive side discovering helpful insights and making informed decisions.This means going beyond statistics and reports to provide a better assessment of what will happen in the future.
Tracking employee satisfaction and well-being
If there is a trend in organizations in terms of people management, it is to know how to take your team´s temperature. Conducting job satisfaction surveys every two years does not seem to be the fastest way to build and shape the strategy to the current needs. Organizations are constantly changing and we must see to the concerns of our teams. That is why some companies are evaluating the mood of their employees every week to adapt their engagement plan to the staff member´s needs and interests.
Implementing policies that put people first
When we talk about people first policies, we are talking about putting the person at the center of the strategy. In other words, putting into practice what has been analyzed, heard and experienced in each team. It is about bringing the analyzed data to reality and acting accordingly. With this approach, we will portray to the team that the team is heard and their opinion is the fundamental basis for creating the people management policies. This brings about a very positive impact on the team since they feel part of the company’s strategy. The aim is to increase efficiency and therefore productivity.
As McKinsey’s study states, “The best teams don’t climb directly from one step to the next one; they are constantly iterating—retracing their steps and climbing the same stairs again—at every level of the journey to the top.”
“People analytics is a vital tool for making strategic decisions and above all, for predicting the future.”