People Analytics Strategy (Word DOCX)

People Analytics Strategy
How People Analytics Will Transform Business

1. What is People Analytics
2. Six Common Uses For People Analytics
3. Benefits of People Analytics
4. People Analytics Strategy
5. A Guide to Implementing People Analytics
6. Step 1. Choose Metrics and KPIs to Monitor and Predict
7. Step 2. Define Data Sources
8. Step 3. Decide on a Tool: Off-The-Shelf or Custom
9. Step 4. Three Key Level to Choose the People Analytics Tools
10. Step 5. Set Up Data Infrastructure
11. Step 6. Build a Predictive Model
12. Step 7. Develop UI of a Solution
13. Step 8. Train Employees on How to Use The System
14. ETL (Extract, Transform, Load) and a Data Warehouse
15. Three Key People Analytics Trends
16. Transforming What HR Is and Does
17. Transforming HR business interactions.
18. Transforming the HR-employee relationship
19. The Process of People Analytics

What is people analytics?
People analytics is the practice of collecting and applying organizational, people, and talent data to improve critical business outcomes. It enables HR departments to develop data-driven insights to improve performance of an organization.

Benefits of People Analytics :
1. Improves Talent Acquisition
2. Improves Retention
3. Real-time Information
4. Enhances Employee Experience
5. Identify Skill Gaps
6. Better Productivity

A Guide to Implementing People Analytics

To kick-start the HR analytics in a company, formulate the questions about the workforce that correlate to business outcomes a company must achieve: What do we need to measure? How are given metrics interconnected with each other? What events or values are necessary to forecast?

When documenting a custom KPI or metric, describe in detail:
• What measure it expresses
• How it's calculated/generated
• In what form it's represented (text, numeric)
• With what frequency the measure must be taken.
• From what data source an indicator will be retrieved for the processing and analysis.

Once you defined indicators to track or forecast, documenting sources from which to
pull this data won't be difficult.

While the number of data sources is company-dependent, they may include:
• ERP HR module (generally has several features and thus data related to time tracking, employee scheduling, payroll management, or absence management.)
• Recruiting tools/applicant tracking systems
• Employee scheduling software
• Talent management software
• Training systems
• Google Sheets or Excel files, if you use those
• Skill testing solutions

Three Key Level-based Checks to Choose the Right People Analytics Tools
With a vast array of available vendors, options, and subscription plans, choosing the right people analytics tools can often seem like a rather daunting task. Here's a three-level need-based check to make the right decision.

Level 1: A working HR dashboard
To get started with people analytics, use a basic dashboard that allows you to capture, aggregate, and visualize data.

Tools like Power BI, Tableau, and Qlik allow ease of use and ease of data access. With a level 1 requirement, your priority should be to keep your people analytics system as simple as possible.

Level 2: An insightful HR dashboard
You may have a steady dose of relevant data and need basic insights to analyze better and make stronger decisions.

Statistical tools like Excel or SPSS are effective as well, though they may not come with quirky visual aids and social-media style interfaces.

Tools like Visier, while taking some time to be set up, come with holistic analytics solutions.

Level 3: A predictive HR dashboard
Your organization is at the third requirement level when you seek not only to analyze data but also to make intuitive predictions based on upcoming trends. These tools help you study behavior in a way that you can predict the next course of action.

Thank you for your attention.

Regards,

UJ Consulting