Introduction
You don’t need expensive software to unlock the power of people analytics. By leveraging existing tools, organisations can make data-driven decisions to improve HR functions and overall business performance.
What is People Analytics?
People Analytics, also known as HR Analytics, involves collecting, analysing, and interpreting workforce-related data to enhance decision-making, recruitment, retention, and engagement.
Why Use People Analytics?
Better Decisions: Use data to guide HR strategies.
Improved Hiring: Identify successful employee traits.
Higher Retention: Understand and address turnover factors.
Enhanced Performance: Track and optimise employee output.
Stronger Engagement: Measure and boost employee satisfaction.
Getting Started With People Analytics
- Utilise Your HRIS
Most HR systems have built-in analytics features for reporting on turnover, absenteeism, and performance.
Action Step: Check your HRIS for reporting tools and generate key HR insights.
- Excel and Spreadsheets
Excel provides powerful data analysis with pivot tables, charts, and formulas.
Action Step: Organise HR data in Excel and identify trends with simple analytics.
- Employee Surveys
Use Google Forms or SurveyMonkey to collect valuable employee feedback.
Action Step: Conduct regular surveys to assess engagement and satisfaction.
- Free Data Visualisation Tools
Tools like Google Data Studio help create interactive HR dashboards.
Action Step: Use free tools to visualise key HR metrics for better decision-making.
Key Metrics to Track
Turnover Rate: Track how often employees leave.
Time to Fill: Measure hiring efficiency.
Engagement Scores: Assess employee satisfaction.
Absenteeism Rate: Monitor workforce attendance.
Performance Ratings: Identify trends in productivity.
Creating a Data-Driven Culture
Encourage HR teams to use data in strategic decisions and provide training on analytics tools.
Action Step: Promote data usage in HR meetings and upskill teams in data interpretation.
Conclusion
You don’t need new software to implement people analytics. Start by exploring your HRIS, using Excel, collecting employee feedback, and leveraging free data visualisation tools. Track key metrics and cultivate a data-driven HR approach to unlock valuable workforce insights.
It’s tough managing your staff and your business… But it doesn’t have to be.