As the pandemic suddenly struck the people, all the things which were practiced in the workforce were changed, and thus work from home became the New Normal.
The companies were forced to rethink and redesign the old workplace culture which were already been practiced and this resulted in ‘People Data’ and ‘People Analytics’ which are the main attraction to the New Normal. And People Analytics is further divided into two categories (a) Data Analytics about people and (b) Data Analytics for people.
Data Analytics about People
Analyze Data about people to build winning teams: In this approach, the people are first analyzed to find out the key strength and then giving them training in the key area to build a stronger team. This is how to analyze multiple variables for composing stronger and relevant teams.
Share relevant people analytics with managers for better decisions: In this case, sharing relevant data about people with managers will be the key to decision making. For example, analysis of performance trends, variation about an employee-customer relationship, predicting the probability of an employee staying in the company based on lead indicator analysis, etc.
Correlate People data to augment collaboration across teams: Due to the pandemic, there is an increased decentralization of the workforce which results in a new ecosystem of the collaboration of new workplace partnerships. Some of the data of these collaborations need to be collected and analyzed to draw meaningful relationships between several factors. The strategies created by understanding these data relationships can help companies build a sustainable work culture.
Make teams future-ready by collecting and analyzing data on future skills: This deals with the upskilling and reskilling of an employee by analyzing the skill gaps, the time is taken to fill the gap with existing employees. This analysis of shifting skills at work is a great help to the decision-makers to efficiently manage their resources and be ready for the future.
Data Analytics for the people
For strengthening transparency and trust amongst employees: This is the culture of analyzing organizational performance and regularly communicating the same to the employees which lead to a high degree of organization trust in the minds of the people.
For Creating a Healthy Peer Competition: In this a People Manager Scorecard is published quarterly, giving an individual’s performance against his/her peer set on specific performance parameters. It is a way to engage with people giving healthy competition and pushing them towards achieving higher standards.
HR’s role in this transformation
Nowadays Data Analytics has traveled a long way to being critical to business management and stakeholder influencing. Taking the right sample size can help HR teams reach better conclusions and focus on course correction as required.
More importantly, organizations are appreciating that people’s data is core to any organization’s analytics strategy. And this relevant data makes the discussions more focused, more productive, and more meaningful.