Are you wondering how to measure the engagement rate of your employees or how to improve your workers’ performance? With people analytics, you can manage your people more effectively using reliable data sources. By combining your personal experiences as an HR professional and using scientific data, which can also assist in anticipating certain scenarios, this is all you need to create a more productive workforce.
- What are People Analytics?
- Why are People Analytics important now more than ever?
- Why do you need KPIs to analyse your people data?
- How can HR software help?
People analytics, also known as HR analytics or workforce analytics, involves the process of gathering and analysing HR data in order to enhance an organisation’s performance. This will enable HR managers to make more informed business decisions based on real people data. In the modern business world, it’s highly recommended companies use people data in order to improve productivity in the workforce, retain employees, reduce turnover and ultimately create a healthy, motivated work environment.
Since the global pandemic, human resources management departments have faced a lot pressures, especially as companies may have lost staff due to poor mental health or stress related issues, laid off workers due to loss of sales or hired new workers as businesses start to open again. The list of changes and complications vary for different companies and individuals. This may mean boosting productivity will be more difficult than ever during this time, especially as many employees’ priorities and focus will be elsewhere away from the office. Therefore, we recommend you start investigating into people analytics, which will provide your company with valuable insights regarding your employees.
Every decision made by your company today will be critical to its success and your response under these difficult circumstances could either make or break your business due to the current difficult economic situation. Bounce back stronger than ever and help your company make up for lost time once the crisis subsides, by making decisions based on accurate, informative people data.
By now you’ve probably learnt about key performance indicators (KPIs) in our previous articles. KPIs are used to measure performance. These KPIs are the most important metrics to measure the outcomes of success in your company. So why are metrics so important when it comes to people analytics? People analytics data interprets patterns by measuring the metrics and how they may vary over different periods of time. Therefore, its crucial your KPIs are accurate and up to date so the decisions derived from the HR analytics will truly benefit your company.
Here at Factorial were offering a free trial on our HR software which integrates many features so you can track employees’ time off data and manage your company’s time and attendance data. The software enables you to create HR reports and analytics based on KPIs. This allows you to frequently evaluate your company’s outcomes and figure out what worked well during a certain month or what didn’t. For example, perhaps one month employees worked less hours than they were supposed to which meant their overall productivity decreased. Through the analysis of people analytics data you will be able to identify why, helping you improve the following month.
People Analytics Jobs
Are you a professional with an analytical mind who enjoys analysing reports and data? Perhaps it’s time you became a people analytics specialist. There are plenty of job roles available in this field, especially as accurate data is a critical focus point for companies and can be used to improve employee wellbeing and motivation.
Do you need qualifications first? There are many people analytics courses available, why not have a scroll through to see what suits you! Theses courses will help you learn how to analyse people data and also help with people related issues e.g. recruitment, performance management, hiring employees and collaboration. First of all, it’s a good idea to extend your knowledge about HR in general, before diving into people analytics. Take a look at this article to find out some of the best HR courses out there, both online and face-to face!
✅Register with Factorial to receive your free 14 day trial to help you generate HR reports based on accurate people data!
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