Due to the talent shortage and the “Great Reshuffle”, companies are refocusing on tracking people results and analytics. This is a valuable tool for HR department to gain insights into employee performance, engagement, and retention. This data can also be helpful for identifying trends and patterns, which can inform decision-making around hiring, headcount capacities, cross-training, and development. Here are some of our top tips for using people analytics to your advantage.
Strengthening Your Team
With the lack of talent available for hiring and the increasing number of jobs being left voluntarily, employee retention should be a top priority for businesses in 2023. HR can use people analytics to identify high-performing employees and develop strategies to retain them and maintain engagement. This “profile” information on key strengths and behaviors can also help enhance your recruiting process.
Some employees may not be your highest performers, but this doesn’t mean you shouldn’t value them. People Analytics can assist in developing goal-oriented performance management systems that target missing skill sets or output levels. On a broader scale, HR can use people analytics to track the performance of departments as a whole and determine if they’re reaching their Cascading Goals.
Understanding The Top Desires of the Workforce
Creating a desirable workplace environment is not only important for Recruiting, but for employee retention as well. While collecting people analytics, many insights can be gained on the desires of your workforce. For example, if data shows that employee turnover is related to lack of career development opportunities, HR can develop training programs that help employees develop new skills.
Ensuring Proper Tracking to Drive Business Goals
One of the most common challenges is developing and measuring the most important people analytics. This requires an understanding of the top priorities and the goals you’d like to reach, and which key metrics (or KPI’s) contribute to reaching them. To ensure success:
- Collect relevant data to the goal and metric you’d like to track
- Implement strategies to address issues and generate positive results – the “How’s”
- Continue tracking key metrics, and check in to communicate progress with the employee/department
- Monitor progress to identify any necessary adjustments
Overall, tracking people analytics will help HR better manage its workforce while improving the efficiency of the business as a whole. Need help developing and implementing strategies that generate positive results? HRC is Here for You! Our Team is comprised of degreed and certified HR experts, here to help you with any of your Business, HR, Recruiting, or Safety needs.
We offer free consultations to get to know you and your business; schedule a meeting here. Or, you can contact us by email at HR@myhrcgroup.com, and by phone at (574) 210-9345.
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