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People analytics can revolutionise the way organisations recruit, develop, engage and retain their staff. Richard Justenhoven from cut-e offers seven ways to get the most from people data.
Despite lots of hype about it, people analytics is still a relatively new concept for HR directors and professionals.
Finance and marketing teams have been using analytics for years to monitor the performance of the business – and to track and predict customer buying patterns.
The benefits of “big data” can equally be applied to people challenges, from recruitment and development to performance management, engagement, compensation, workforce planning and retention.
Doing this can transform the effectiveness of organisations. However, too many HR teams miss out on this opportunity because they don’t know how to capitalise on the data they have available.
Talent data is one component of this. However, people analytics is a broader concept because it encompasses all of an organisation’s employees, not just those who have been identified as “talent”.
Correlating employee data against business outcomes provides actionable insights that can help HR leaders make more informed people decisions.
So how can you make the best of the data you have, and act on it to benefit the business?
1. Review your existing employee data
To create effective people analytics, usable data is needed. You’ll undoubtedly have data on your employees, such as demographic data, their length of service and their prior experience.
You’ll also have performance data, such as their line manager ratings, sales figures, customer service feedback and even details of their punctuality, absenteeism and their disciplinary record.
You may have assessment data – such as p