Business intelligence and analytics go hand in hand. By leveraging big data, companies have managed to make more efficient systems, develop better customer experience and create more opportunities to increase their bottom line.
One of the more overlooked applications of big data is the generation of insights for HR teams. However, companies are coming around to the reality that skillful use of analytics can help their HR teams be more effective in finding and onboarding talent. These 11 experts from Forbes Human Resources Council delve into what their companies have done to implement workforce analytics to help their HR departments be more in tune with the organization’s employees.
1. Tracking Employee Engagement
Our company uses a platform called Rhonda. Rhonda allows us to check in weekly with our employees via text messages. Employees are able to rate their weekly experiences. The managers are held accountable to check in with employees if the employee scores low on their weekly work experience. It is invaluable to have information in real time, open a dialogue and stop problems before they blossom. - Patricia Sharkey, IMI People
2. Measuring The Impact Of Learning
Measuring the effectiveness of training programs has always been a challenge. We know 96% of L&D managers say they want to measure learning impact, it’s just that L&D and HR simply haven’t had access to the data to do it until now. Today, it’s finally possible with the right technology, like machine learning, to gather the depth and dimension of data to tie the impact of learning to business results. - Andrea Vrbanac, Axonify Inc
3. Identifying The Optimal Path Forward
With talent and organization high on the C-suite's agenda, using metrics and dashboards produced by organizational analytics enables HR leaders to be more responsive to the business. It also allows them to deploy internal human capital consulting teams whose members can be flexibly assigned to critical projects that affect that business's organizational health. - Claudy Jules, Google
4. Preventing Workplace Misconduct
Investigations and employee behavioral data can hold the key to anticipating and fighting issues like sexual harassment and bias. Indicators on where employee issues are occurring, what kind of issues are being reported, the numbers of cases and more can be analyzed to predict trends, drive strategic plans and take preventative action across an organization. - Deborah Muller, HR Acuity
5. Identifying Red Flags
If you collect data on a consistent basis (e.g. monthly people reviews) and ask the right questions of your people managers, you will be able to identify red flags. This will help determine if you have employees who are struggling, flight risks or negatively impacting the team. - Jeff Buenrostro, Metric Theory
6. Determining The Right Employee Benefits
One area where workforce analytics really shine is the area of employee benefits, employers' second largest expense after payroll. Understanding the utilization trends and correlating them with the employee churn data can help provide insights into what benefits employees resonate with the most and allows employers to adjust toward more optimal experience to drive employee recruitment and retention. - Rachel Lyubovitzky, EverythingBenefits
7. Addressing Knowledge Gaps
When properly leveraging the power of people analytics, big data can help with internal resource allocation, properly identify employee performance metrics, and assist with organizational and team culture. Addressing process bottlenecks or knowledge gaps that lead to employee disengagement, burnout and turnover can help HR teams build a stronger culture while creating lasting value. - Erald Minga, Kellogg School of Management
8. Determining Upskilling Needs
Many employers struggle to find workers who possess the skills their roles require, resulting in unfilled positions and lost revenue. By leveraging big data, employers can determine the roles their growing business will require in the near future, and the skills necessary to succeed in those roles, allowing them to offer training to current employees in advance and minimize future hiring costs. - John Feldmann, Insperity
9. Becoming Better Business Partners
Workforce analytics can help HR become true business partners and gain a "seat at the table." It allows HR to align data with people solutions that will help the company thrive because better people strategies equal greater customer satisfaction and higher revenues. - Lotus Buckner, NCH
10. Improving Process Efficiency
HR wears many hats, and executives can't always see the connection between programs. Utilizing metrics helps drive stronger performance, show ROI and get further buy-in for ongoing programs. Let's take process efficiency metrics for example. Look at each step in the hiring process to determine what's broken, what pages are applicants dropping off, and then use that data to improve completion rate. - Nicole Smartt Serres, Star Staffing
11. Helping Build High-Performing Organizations
In a workday, there are myriad touch points between ourselves, others, facilities, etc., which helps understand how we interact within the workplace and enables us to tailor better experiences. Data helps solve everyday problems about engagement, hiring or behaviors/shifts in culture. Benefits include environments in which people can thrive and more effective, high-performing organizations. - Drew Carter, H. Hendy Associates
