Four Ways to Advance Your People Analytics from i4cp

Over the past 10 years, big data analytics has been transforming the way many organisations operate.

For HR – people analytics is an essential contributor to identifying, recruiting, developing and retaining the right people. And, it seems it’s now time for people analytics to move to the next level, by providing data that can contribute to organisational strategic decision making.

A new i4cp report in partnership with the ROI Institute® has outlined four ways to advance your people analytics.

This study has surveyed analytics professionals worldwide and found that budgets and interest in analytics is only increasing, and that it should be central to not only the HR strategy but also the wider business strategy.

“High performance organizations are 1.7x more likely to report dedicating resources (budget and people) to people analytics”

– i4cp, Four Ways to Advance Your People Analytics Report

I wasn’t surprised to read that measuring impact and ROI were top of mind for 47% of those surveyed.

It was interesting to see that one of the more popular themes at present was comparing various metrics with employee retention, for example engagement vs. retention, or manager performance vs. retention. The paper suggests that data from these two examples in particular, along with a few others can be correlated against market performance.

Another insight that caught my eye was that two times as many high-performance organisations are using people analytics to profile their top talent and recruit against it.

What’s clear is that although the HR team are the key players making use of people analytics data, there is building engagement from across the board, from the CEO to the CFO.

“We are finally seeing evidence that leveraging people analytics to drive business strategy pays off.”

– Patti Phillips, Four Ways to Advance Your People Analytics Report

There are heaps more fascinating findings in this report, which goes on to conclude the four ways to advance your people analytics:

1. Focus on Talent on the Team

Upskill those who are capable of contributing to the people analytics function (and don’t forget to support them in transferring their learning!) OR hire new people who have the competencies required.

2. Integrate Far and Wide

Integrate people analytics with other functions in the business, not just the obvious HR functions.

3. Invest in Technology and Tools

Big data equals big work! Automate where you can and let’s look to the future of AI, machine learning, and predictive analytics.

4. Build Trust through Incremental Success

Have patience and earn trust by continuously proving value with useful data.

Check out the report for much more on these points and how you can apply them to people analytics at your organisation.

 

Thanks to Patti Phillips from the ROI Institute® for sending me this report. Patti is a real inspiration in the ROI world. I have had the privilege to co-author with Patti in the past and this month I’m super excited to be hosting a webinar with her. Join myself and Patti for this webinar to learn:

– What ROI is and what it is not.
– How learning transfer connects your objectives to business impact.
– The 3 key transfer steps that will move you from delivery to ROI.
– The 4 unlikely tactics that ensure successful transfer.

REGISTER HERE.

Emma Weber is a recognized authority on the transfer of learning. As CEO of Lever – Transfer of Learning, she has helped companies such as Telstra, Oracle and BMW deliver and measure tangible business results from learning. Emma has also been a guest speaker at learning effectiveness conferences worldwide and authored the hugely successful book Turning Learning into Action. Much more detail around the issues and solutions examined in this article are available in the book – please feel free to download a free chapter.