Some describe it as a 'revolution', others an 'explosion' and yet more 'a major leap forward'. They're referring to something that itself has many names in HR; data analytics or people analytics but it all means only one thing; using the numbers game to make faster and smarter hiring decisions.
Data Analytics - How to Jump on the Bandwagon
People analytics is like any kind of data analysis such as marketing or other types of business analytics except that it measures the value of people to an organisation.
Everyone needs to be on board
As with any HR strategy it has to be about the overall needs of the business as a whole, which means sharing data across departments with regard to productivity, staffing needs, customer care, sales etc.
Identify how you will gather data
Once gaps are identified and goals set, HR needs to work either with an internal or external analytics team who know how to gather and input the data plus analyse and help implement the results. With the growing use of analytics, some HR departments are now looking outside their function to hire analysts such as statisticians.
Do you need dedicated resource?
In the beginning, probably not, but for some HR departments that already have a lot of stored data, it might not be a bad idea to bring in some capable of looking at it and analysing it from an entirely different perspective than a human one. Data science is an up and coming career option for many graduates.
Know your Technology
It's a must to explore all of the available technologies that can either be incorporated into existing databases or run alongside them. Also there are many analytics vendors who are already on the bandwagon if cost is a factor in building a 'home team'. There are a number of different solutions on offer from 'off-the shelf' to embedded systems.
Run a Pilot Programme
Running a pilot programme can help get started but set objectives that can be easily evaluated.
Narrow Applicants using Algorithms
Experts recommend using algorithms with a large number of data points to narrow the field of applicants, say 10 measurable attributes that would identify leadership, rather than five, which could be based on characteristics of successful leaders already within the organisation.
Don’t forget the human factor
The human factor comes when you decide what to do with the information. The data merely helps the decision making process.