In the current scenario of the pandemic, organizations are struggling hard to get back to their business as well as concerned about how their employees are coping with working remotely. People analytics, which is a data-driven approach in managing people is enabling HR teams in organizations by providing the useful insights required for hiring or firing, analyzing the effectiveness of leadership, etc. The application of people analytics will result in improved decision making through the use of statistics and various data interpretation techniques.
People analytics is significantly helping HR teams within an organization in the recruitment process. With the large talent pool available in this current world, recruiters rely on a mix of analytics and behavioral techniques to find the right candidate for their job requirements. These techniques analyses the past performance of the candidate, demographic data, and how they respond to a certain situation or environment, providing the recruiter with an informed decision about the candidate. It is expected to eliminate the bias in the recruitment process and increase the diversity of the workforce as in this case decisions are not taken based on the perceptions of the employer. Coming to the employee retention scenario, people analytics help HR by providing information regarding various aspects like their feeling of the work and office, productivity, etc. This enables the HR teams to do the required actions to make their employees happier and bring out better outcomes from them.
People analytics provides the opportunity to develop the personalized Key Performance Indicators (KPI) upon which the success of the organization is measured. Every employee in the organization can be evaluated based on their skill set and rewarded accordingly. All those skill set which add value to the business can be nurtured. Using people analytics to reward and track the progress of the employees using various KPIs can induce a sense of collaboration among the employees especially in the current scenario where people work remotely. Also, the proper application of people analytics will also help in reducing the risk of employee turnover and increase retention. Thus investment in people analytics can significantly help organizations to gain insights required for their business.
