In recent years, generational attitudes and new technologies have increased the demand for talent and shifted what employees value most.
How can human resources departments effectively respond to this challenging business environment? The answer may lie in “people analytics."
By analyzing the personality traits and intrinsic motivations of current talent, companies can make data-driven decisions related to hiring, employee development, retention and team selection to ensure success now and in the future.
But although people analytics has the potential to deliver significant value to an organization, adoption by HR professionals has been slower than expected. Here are a few reasons:
- The perception that HR teams are not yet staffed with individuals who are fluent in the collection, aggregation, comparison and analysis of various datasets. Additional training may be required around translating data into insights.
- A lack of awareness regarding the variability of people analytics solutions. Some platforms are easy to use and responsive for non-technical users, and others are not.
- The belief that people analytics will require a lengthy implementation process with significant IT resources. In reality, some applications can be implemented in a few days without technical support.
A concern over limited access to the data required to power people analytics solutions. However, relevant data related to individuals and teams can be efficiently collected by many advanced providers.
Once appropriate data has been collected and an advanced platform is in use, HR leaders will be able to:
1) Rapidly assess and analyze hundreds of candidates for an entry-level position and predict potential fit for future positions.
2) Conduct career-path and bench-strength analysis for existing teams.
3) Compare recently promoted senior leaders to their new teams or predict the fit of potential managers with various teams.
4) Identify high-potential candidates for emerging-leader programs.
5) Target onboarding programs to suit each new hire.
6) Assemble teams with a mix of strategically focused individuals who can facilitate, implement and execute.
7) Mine existing talent pools for people who can fit a wide range of positions.
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