People analytics may be known by alternate terms such as HR analytics, workforce analytics, or talent analytics. The term refers to the assessment and study of people data in a company, which spans challenges, opportunities, and interactions. People analytics might prove to be a vital factor in assessing and driving employee engagement.
In fact, LinkedIn recently listed people analytics as an entry in its global talent trend report.
It has been widely documented that an engaged workforce is linked to reduced turnover/attrition rates in the workforce. People analytics may be an effective long-term solution in keeping employees motivated and loyal to their company.
Understanding People Analytics
The good news is that most organisational leaders already have ready access to the data required in people analytics. These data points usually include employee surveys, salary/promotion history, and recruitment processes. Leaders can acquire a more complete analysis by seeking and comparing data from various sources (i.e. trends on the industry-level).
Unfortunately, organisational leaders and HR professionals may overlook this reservoir of untapped data.
Alternatively, people analytics may be converted into actionable references used to assess the correlation between the goals of an organisation and its initiatives. Gallup states that effective HR analytics should fully leverage leading performance indicators and be attuned to the long-term goals of the organisation.
Applying People Analytics to Employee Engagement
Accurate measurement of employee engagement has remained a challenge for many organisational leaders. This is due to a lack of standard metrics that employers may tap on for the right answers. 360 degree feedback surveys are few and far in between a work year and are inaccurate representations of employee engagement. This is especially true if the surveys are conducted shortly after a promotion, or bonus.
People analytics, on the other hand, provides a comprehensive review of employee behaviour, through various aspects of their time in the company. The analysed people data compiles information from the entire lifecycle of employment, including attendance rates, promotion history, and even prior recruitment processes.
People analytics will enable employers to detect the subtlest trends common in workers who face the highest risk of leaving a company. As such, employees may strategise an intervention to address and resolve an unspoken issue or conflict before professional relationships are beyond repair. IBM’s project Esaki, takes the process one step further, with an AI that predicts the long-term engagement and loyalty of a job applicant.
This helps organisational leaders improve existing employee engagement structures by improving decision-making in talent decisions. Employers will be able to spend more effort and resources in resolving the unique concerns and challenges identified in each worker.
Effective People Analytics in Action
The most advanced versions of people analytics may be conveniently generated by AI and machine learning processes. Additionally, these datasets should be made accessible via interactive data visualisation that facilitates easy reference and follow-up action.
People analytics is being continuously shaped by the rapidly evolving world of technology and seems set to become an indispensable element in employee management and engagement.
StrengthsAsia has helped many individual and corporate clients all throughout the region in identifying and maximizing their talents, in driving engagement and increasing motivation in their work and life. If you want to learn more about the Strengths Leadership Program, feel free to reach out to us here.