Until recently, HR was stuck in the dark ages of technology. While other departments enjoyed the benefits of innovation, especially with respect to advancements in AI and machine learning, HR was still relying on the metaphorical abacus to everyone else's binary wizardry.
Fortunately, technology has finally found a new home within HR departments searching for ways to leverage the power and actionable insights from people analytics. In HR's Ultimate Guide to People Analytics from Hyphen, case studies, best practices, and real-world insight are discussed in detail to demonstrate the added value a successful deployment of a people analytics system – like Hyphen's own innovative platform – can bring to any organization, no matter the size and industry.
People analytics – the process of collecting and analyzing data to assess and improve HR practices, programs, and processes – is data driven insight already transforming HR from the mundane into a dynamic source of change that will propel organizations into the future.
In other words, people analytics provides HR departments the ability to harness people data into quantifiable, actionable insight that can serve as a guidepost to make personel-based decisions that impact the entire organization. We recommend reading our Ultimate Guide to People Analytics for a much more thorough look at the different ways it can infuse new levels of efficiency and effectiveness throughout a company.
People analytics isn’t a trendy, new age approach to HR. Instead, it is based on well-researched, quantifiable study that transforms employee thoughts, beliefs, perspectives, and performance into tangible data points. In fact, a distinct set of central pillars or themes serve as the foundation to its unique, wide-ranging abilities, including concepts like talent sourcing and acquisition, onboarding and engagement, employee lifetime value analysis, and many more. Our expansive guide also details tools and platforms to help you execute these central pillars.
Collectively, these pillars work in conjunction with a delineated, organized cycle of processes and procedures to draw upon the data-driven insights to create positive results through a measured, consistent approach.
Although discussed more in-depth in our full, downloadable guide, think of the pillars providing the scientific bedrock for people analytics, along with the IMPACT cycle they are processed through, like the GPS on your phone. While the satellite location data is a technological marvel in of itself, ultimately, it is only insightful when interpreted into actual directions through your GPS app. The two work in unison to transform data into directions that will lead you to your desired destination.
Given the dynamic nature of people analytics, it’s only fitting that its benefits are widespread and applicable to many different facets of operations within an organization. In our HR’s Ultimate Guide to People Analytics, we discuss the four main types – descriptive, cognitive, predictive, and prescriptive analytics – as well as their practical applications and specific benefits. We also detail multiple cases of People Analytics being put to use in various industries, including KPMG's initiative resulting in significant improvements in engagement and morale, greatly strengthening the relationship between employees and the firm.
Likewise, since data is only as meaningful as it is properly implemented, we outline some practical best practices to fully leverage the insights provided by people analytics, including procedures to best integrate the tools into your organization and existing systems as well as assembling goals and analyzing progress as you go.
Every organization stands to benefit from the insightful power people analytics can provide if utilized in a manner appropriate for your specific employee base, direction, and demands. With the informative guidance provided by HR's Ultimate Guide to People Analytics, Hyphen strives to help your company reach its fullest potential.