It has been a year of digital transformation and collaboration for companies, especially for HR, who are learning that using enhanced data sources could help improve human resource management, make more informed fact-based decisions, monitor organizational productivity, and encourage employee engagement during the COVID-19 pandemic. In the current economic crisis, as people’s working styles change faster, people analytics will become increasingly important.

You will be surprised how many industries fall behind when it comes to adopting analytics and technology; it turned out to be a wait-and-see game for several. In spite of this, digital transformation has gained widespread adoption in HR due to the pandemic. As companies realize there is no alternative to analytics and AI-based transformation.

The truth is that people analytics is still in uncharted waters. According to a Deloitte survey, only 8 percent of those surveyed have usable data; only 9 percent are confident that they know which talent dimensions drive organization performance; and only 15 percent have deployed HR and talent scorecards broadly for line managers. There are several reasons for the low adoption of people analytics, including the closed-loop approach to HR-based analytics and the lack of readiness.

In a digital era, however, organizations are shifting their focus on developing the next generation of organizations, one in which agility and collaboration are crucial, especially in remote and hybrid work environments. Using people analytics in HR, we can improve workforce management, reformulate organizational models, and use data to make better predictions and decisions.

So, how Can People-Analytics Benefit Businesses?

Decision-making with insight: People analytics helps increase organizational value by improving various areas, including scouting talent, recruiting, onboarding, training, performance improvement, employee retention, and boosting employee engagement. In addition to providing organizations with more data sets, people analytics enables HR to view talent data across the employee lifecycle, making the perspectives clearer.

Proper recruitment: Predictive analytics and AI are helping organizations to find the best people, eliminating biases that have long been stumbling blocks to the process of talent acquisition. Moreover, AI software can assess a candidate’s honesty and personality during virtual interviews. People analytics eliminates guesswork from the equation and helps companies find the perfect candidate.

Creating a culture of care One of the most exciting technologies at use creates employee well-being heatmaps that understand which interventions are needed in specific areas while maintaining worker anonymity.

In addition to addressing time management, work-life balance, learning-development, feedback, performance data, etc., these tools can now be used to enhance employee experiences, better wellness initiatives, work on diversity, plan workforce, assess compensation and benefits, and drive greater business performance. By leveraging people analytics, data visualization, and AI software, transparency, accountability, and enhanced employee experiences can now be achieved successfully.

 

Technology is Transforming People Analytics in a Covid-19 World

In a rapidly changing environment, HRMS tools, chatbots, and instant pulse surveys can be used by employers to understand employee satisfaction, engagement, and mood, while providing advice. Using real-time analytics, companies can reap the benefits of opportunities, make intelligent decisions regarding employee wellness, analyze skills to optimize vacancies, and repurpose employees to fit open positions.

Long-term success in the fight against the pandemic depends on the ability of organizations to make smart HR decisions in the ongoing crisis.  Although we can’t control the crisis at hand, we can determine how we use our information. People analytics will continue to be explored and used to connect, collaborate, and improve the quality of the workplace. We will see more and more job varieties, diversifications, and distributions.