Mining people analytics data is crucial, with reliable AI capabilities.
Even though people analytics has been around for a while, it’s the technology whose time has come. With reliable people analytics, powered by Artifical Intelligence and Deep Learning technology, organizations continuously improve employee experience and overall performance.
"15% of the respondent claims that HR Analytics is already a part of their strategy. Nearly 50% respondents will incorporate analytics into their strategy within the next two years."Harvard Business School survey
Market studies reveal that more organizations are counting on analytics than ever before. Why? Because the numbers throw light on the current trends and help with future predictions.
How businesses grow with People Analytics
Employee analytics provides insights like no other know system. Optimized analytics of the employees improve workplace strategy and assist growth in all fronts. Here’s how:
- Forecast employee behavior.
- Analyze employee sentiments.
- Monitor the trajectory of the organization.
- Interpret the opinions of the masses.
- Know what employees are thinking.
- Capture creative ideas of people.
- Analytical insights for decision making.
- Determine promotions and retainment.
- Ideas for improving work culture.
A Mckinsey article based on concrete research shows that automated People Analytics tools:
in recruiting efficiency
Reduce attrition by
Boosts business productivity by
Undoubtedly, people analytics are the driver for strong future decisions to nurture organizational growth.
Big Impact of People Analytics
In this digital transformation age, humanely deduced analytics is often incomplete and prone to biases. Organizations have little choice but to adapt the capabilities of Artificial Intelligence in HR to extract people analytics. This impacts the decision-making of the leaders in a big way, like never achieved in corporate history.
Benefits of People Analytics
- Helps with a smooth onboarding
- Identify who are the best performers
- Helps in manpower retention
- Improve employee engagement
- Evaluate grey performance areas
- Helps set long-term goals
"Credit Suisse Bank believes that a one percent increase in retention saves their organization US $70-100 m annually."
There is no lack of comprehensive data about the efficacy of People Analytics. What was once HR Analytics is now transformed into people analytics. And that’s simple to understand. The retrieved data used by the HR department is now deduced by leaders and decision-makers. Why? Because it’s crucial evidence of what’s happening with the employees.
Experts tell that people analytics is the revolutionary transformation in a corporate structure. And with contributions from HR, team leaders, managers, and finance departments provide valuable information about the productivity and performance of the employees.
The advantage of people analytics has pushed enterprises to adopt AI and automation technologies. An environment of well-being or happiness at work emerges from the ability of an enterprise to address its people's problems. Decision-makers must have a strategy that matches this emerging ecosystem of technology, automation, and human intelligence.