June 10, 2022

Developing a People Analytics Functions

Developing a People Analytics Functions

Now, more than ever, developing a people analytics function is becoming a necessity for any organization that wishes to leverage the power of its human capital. As a matter of fact, according to the 2016 Global Human Capital Trends survey report by Deloitte, 92% of executives believe that redesigning the organization itself is necessary and that it is a critical priority. In 2016, 51% of organizations linked business effects to human resources programs, up from 38% in 2015.

Today, more people analytics teams are being formed in an increasing number of organizations, with conventional systems being progressively replaced with various analytics units and newer technology within the human resources function. This means that human resources are now entering a new era of the digital revolution.

Every organization is inadvertently compelled to participate in improving current strategy and keeping up in a much more competitive and data-driven market. As more organizations become aware of the benefits of people analytics, the question now is how to get started and, more importantly, how to get it right.

● What skills are needed to do people analytics?

    Generally, the skills and qualifications necessary in people analytics include
    (1) the ability to use data and quantitative methods,
    (2) the ability to interpret analysis results, and
    (3) the ability to communicate analysis results clearly           and comprehensively.

● What people should you look for on your people analytics team?

The individuals you should be on the lookout for in the field of people analytics are qualified professionals with experience in management, statistical analysis, predictive modeling, and software development, among other things.

One of the most critical capabilities of people analytics is dealing with uncertainty, which is a considerable challenge. As a result, to facilitate the handling of people analytics, it is vital to have individuals with the appropriate expertise and experience to overcome the obstacles.

Moreover, to continue looking at the problem from multiple perspectives and seeing all of the alternatives, people analytics requires thriving competitive individuals. They should have the ability to comprehend challenges, gather   evidence, and maintain an open mind to continue looking at the problem from multiple perspectives and seeing all the alternatives.

● How to start creating a people analytics function?

A team must be established, with members possessing diverse skills and mindsets from across the organization. You and your team can collaborate to develop the business strategy's overall plan and assist each other in  making appropriate decisions at each stage of the process.

● Creating your people analytics strategy roadmap?
     Step 1: Identify the problem
     Step 2: Strategize
     Step 3: Gather data
     Step 4: Analyze the data
     Step 5: Use the analysis and implement a course of action

● What should you do first?

Overall, one of the most vital early steps to take is conducting preliminary research into people analytics as it helps build a foundation for your people analytics functions. It also helps establish a knowledge base from which to develop and plan how to collect and analyze data if you decide to move  forward.