It’s a complex and challenging time in HR. The need for high performing talent is the greatest it’s ever been in the history of business. It’s for that reason leveraging data in human resources is paramount to success. In this article series, HR Exchange Network editor Mason Stevenson looks at how to drive growth through people analytics specifically retention and compliance and cybersecurity.
People Analytics is like any other strategy: successful when all the right components are there and less than successful when they are not. What are the reasons for employing a people analytics approach to human resources?
- Talent insight
- Trend revelations
Those are just a few in an every growing list.
People Analytics and Growth
In my first article in this series, I presented case studies in which companies applied people analytics to particular functions within HR and then the results the companies saw after the application.
To read more the first article, which focused on talent acquisition and employee engagement, click here.
One of the most common problems solved via the use of people analytics is attrition. Why? It’s relatively easy to create a business case and demonstrate ROI.
A solid example is provided by IBM. The tech company employs a program called Proactive Retention. Through use of analytics, the company is able to predict which employees are likely to leave. It is also able to pinpoint the best way to retain employees. The program itself has helped the company save more than $270 million dollars since its inceptions.
Read the full article here: People Analytics and Driving Growth: Part II