June 24, 2022

People analytics through the employee life cycle

People analytics through the employee life cycle

People analytics is not only beneficial to industry leaders but also to its employees. By sharing its values and guiding employees through the business goals, a transparent company will retain its employees for longer, which aids both the performance of the company and the satisfaction of its employees.

Hiring analytics

  • Hiring analytics is critical to ensure you get the right talent to add value to your business. It involves scaling the team to handle the work and creating a repeatable process to gather data, which the recruiting system might automate.
  • Hiring analytics, synonymous with recruitment analytics, uses a data-driven method to understand why an employee matches the client and is fit for hire. It enables your recruiting department to evaluate recruitment efforts and adjust strategy based on data rather than guessing alone.
  • This means that rather than relying on personal experience or intuition, recruitment teams may now make judgments based on data. They may utilize hiring analytics to track their progress and, if necessary, make adjustments to their recruiting practices.
  • An example of this is HireVue - a platform used by more than 700 customers, including multiple large corporations such as — Hilton, AdventHealth, Unilever, Under Armour, Delta, and JP Morgan Chase. HireVue connects across numerous platforms to simplify the most laborious and time-consuming employment processes using conversational artificial intelligence, video interviews, evaluations, and automatic scheduling. In 2019, HireVue surpassed 10 million video interviews worldwide. Today, HireVue clients have conducted
    over 26 million interviews, resulting in a 16% increase in new-hire diversity, a 90% reduction in time to hire, and a 131 % return on investment.

Performance analytics

  • Performance analytics is often used to help define steps in your process that could be automated and improved, such as analyzing the workforce in terms of competency gap analysis, employee attrition, and other performance-related information.
  • This type of analytics is primarily used to
    1. quantify player performance and
    2. address performance-related issues that might emerge during competition.
  • Examples of platforms that provide performance analytics are intelliHR, Basecamp, Inspire, and Salesforce.

Succession planning

  • Succession planning is an integral part of any organization as it serves as a safety net of the human resources department and the future of an organization.
  • Succession planning focuses on attracting, incorporating, and retaining the right talent within the organization.
  • Identifying the company's future development directions is a critical first step in succession planning. This is vital in succession planning because it helps choose a candidate with the ability to meet the organization's long-term career goals and objectives.
  • Second, it is essential to develop workforce projections, including forecasting the demand for various roles. An organization may use a predictive tool to determine the correct amount of human resources to acquire and train, ready when required.
  • The third is identifying replacement candidates and determining  responsibility development guidelines for each potential candidate. This involves putting new employees through an effective orientation process and defining an onboarding program so that they can get up to speed faster.
  • Lastly, it is very important to ensure that efforts done are not for a temporary plan but aims to have consistency and continuity.

Organizational network analysis

  • Organizational network analysis is essentially the process of looking at the large picture and recognizing which parts of the structure require action to progress towards the desired change. ONA (Organizational network analysis) enables leaders to visualize all of the linkages throughout an organization's hierarchy and its various critical features. Moreover, it aids in the visualization, investigation, and better understanding of  organizational dynamics.
  • Although organizational network analysis can be highly beneficial to a company, its contribution is not always fully acknowledged. People involved in managing organizational network analysis make significant contributions to organizations because they understand the workplace environment and its people better than most others. For example, those involved in performance management, understanding and changing employee motivation, or those engaged in implementing or driving change programs are people who may work in ONA.
  • Companies use organization network analysis because of several reasons such as:
    1. to identify success factors by understanding nodes that pose
      challenges or finding bottlenecks in the overall flow of information,
    2. to rise above traditional top-down hierarchies to see and address
      challenges from a lower-level organization member's perspective, and
    3. to provide better information flow to address organizational challenges and maintain unity, allowing the company to operate more efficiently.
  • In people analytics, ONA creates significant opportunities for HR to guide organizational strategy by mapping the network of interdependencies among key players (employees and leaders) in the company or across companies. Moreover, it also provides insight into how and why people in an organization should be connected to one another.

Outboarding

  • Outboard in people analytics is the practice of hiring analytics talent that is not formally employed by your organization. It's called outboarding; because you're bringing in resources outside your core HR department to supplement existing capabilities, much like when you bring in an external firm to increase your company's business consulting needs.