An evaluation document based on a candidate interview lands on the desk of HR department – And this document is no handiwork of a human interviewer, for AI has pitched in to do its bit. That’s how Volvo promoted recruitment of technicians for its factory, where the car acts as the HR partner and Artificial Intelligence gives the lead in assessing candidates and evaluating them.
With frontrunners strutting out their talent in using advanced analytics to hire talent, what has become apparent and grown into a top priority is the need to apply analytics across the employee lifecycle – applying people analytics to connect people performance to overall business performance.
People analytics is about leveraging people data to strengthen decision-making, moving beyond descriptive analytics to make the most of predictive analytics insights.
How to unlock value from People Analytics?
Nailing down the objective
Though it boils down to data-driven approach to realize the objective, what an organization wants to achieve through data-driven approach is what that matters more. In short, an organization ought to mull over ways to leverage the data-driven approach to trigger successful business outcomes. The objective is more about connecting people analytics and people related insights to organizational performance. It is also about turning the lens on people-related issues, which can be addressed through people analytics, to drive performance. Some searching HR queries that help maximize value from people analytics include:
- Are we falling short on requisite skillsets to drive performance?
- Are we to focus on employee experience to drive better performance?
- Are we registering poor scores in enabling upward transition of employees?
- Are we lagging behind in filling a role with the right candidate?
Transition from disconnected data to data-driven HR
People analytics has its major challenge in the form of disconnected data. Though internal and external data become the fodder for People analytics, data collection, data management and the right technology solution spearheading the transition from data to people analytics remain a hurdle to cross. With people data covering tenure, compensation, training, appraisal, and performance and reporting well supplemented by external data in the form of passive employee data and financial data, what taunt organizations is the need to collect and use right and good quality data for people analytics.
Transition to data-driven HR then depends on factors including the starting point from where an organization can set the transition into motion, infrastructure in place, technology power to drive the transition and a receptive culture. While a people-related area may be rich in data, recruiting for instance, others may be found wanting when it comes to data health. Beginning with one HR area, as that of recruiting, organization can make progress by bringing in other areas like training, employee engagement and compensation into this fold.
Giving analytics push to data
As organizations address the infrastructure roadblocks in collating and storing data, people analytics springs to life when data is given the ‘analytics’ push. And the push comes by way of connecting analytics results to business performance. The analytics engine built to take in all the internal and external data arises out of brainstorming business results that need to be witnessed from people analytics. People analytics offers insights across the entire employee lifecycle, as that of impact produced by performance pay and sync among business strategy, people costs and people performance.
Saksoft offers expert guidance for enterprises seeking to use SuccessFactors People Analytics, which is enabled by SAP Analytics Cloud, to accelerate the people-insights drive through ‘smart discovery’, data blending and visualizations capabilities. Leveraging SuccessFactors People Analytics, Saksoft guides organizations to make better people as well as organizational decisions, transform people as well as organizational performance.