Workforce Analytics—How Solutions Have Evolved
If HR and People Operations executives have learned anything from the massive amount of change that’s occurred within 2020 it’s that the need for accurate and unbiased analytics and insights on the employee experience journey are critical for businesses going forward. However, with each external and internal change, the employee experience is impacted, and maintaining an accurate picture of team health can be a moving target.
Even before businesses adjusted to the next normal, they sought to leverage their people intelligence data to prevent attrition, predict performance, and mitigate potential burnout. However, over the last year we’ve spoken with hundreds of companies who desire an integrated solution to proactively measure the employee experience that goes beyond a traditional workforce analytics solution.
What is Workforce Analytics?
Workforce analytics is an approach to measuring behaviors of people and analyzing them to improve people and business performance. This is typically accomplished by analyzing people data using statistical methods and software in order to make better workforce decisions. The benefits to organizations who leverage a workforce analytics solution are substantial. That said, it’s important to gain buy-in and drive transparency when utilizing your people data to fuel objective decision making.
The marketplace (and HR professionals) began to tune into workforce analytics solutions over a decade ago when SAP acquired SuccessFactors and Oracle acquired both PeopleSoft and Taleo. Since then, the HR Tech industry has come to embrace (at least in part) a new way of operating – a data-driven way. This shift to predictive and proactive people insights resulted in larger organizations carving out budget for HR Tech like never before. No longer was it good enough to have a robust applicant tracking system paired with an antiquated HRIS. And so, the evolution of workforce analytics took hold and the consultants and data scientists rolled into the Fortune 1000 to implement systems like Workday, Visier, and of course Oracle Analytics for HR and SAP SuccessFactors.
How have Workforce Analytics Solutions Become Essential to Business Performance?
Along with technology, the traditional Human Resources function has evolved over the last decade as well. While mitigating risk and managing compliance remains paramount for businesses to thrive, equally important is the employee experience and people engagement. The days of facilitating organizational change without awareness of its impact to the people within the organization are almost obsolete. With HR and People Operations professionals largely having a seat at the table, the need to deliver results from these technology investments has never been more critical.
This functional shift has been necessitated by the growing number of Gen-Y and Gen-Z professionals in the workforce who desire a more personalized experience with their manager and their company. When workforce analytics is done well, the insights delivered can positively impact the employee experience and offer leadership an opportunity to tailor managerial actions to each individual. Workforce analytics solutions offer companies an opportunity to help their employees develop themselves and utilize their potential, receive feedback that is impactful and improves performance, and enables employees to contribute more to the objectives of the organization.
How Can Small-to-Medium Sized Organizations Gain the Same Valuable People Intelligence?
For most small-to-medium sized organizations, the budget limitations have made implementing and maintaining these transformational workforce analytics solutions prohibitive. However, these companies are arguably more in need of the predictive and proactive insights delivered by workforce analytics solutions to ensure their growth doesn’t stall. This is why we created Peoplelogic.ai – to help your organization understand the employee experience and deliver people intelligence that drives growth in a scalable way.
Peoplelogic is a lightweight workforce analytics solution developed specifically for small-to-medium enterprise organizations. We take the heavy lifting out of implementation by offering users an easy and seamless way of connecting their everyday tools to deliver valuable insights once inaccessible to your organization. Our platform doesn’t require consultants to implement, or data scientists to analyze the data. It does require a desire, and ultimately, a mindset shift for leaders to embrace data-driven management in a scalable, integrated approach.
Peoplelogic aggregates and analyzes the data that’s already being generated in all of your connected tools—delivering automated recommendations, insights, and summaries on how your teams get work done, where you may be facing capacity and utilization problems, and helping you achieve the level of performance required to surpass your goals. Delivering workforce analytics that truly transform your business, start to better understand how your team works by giving Peoplelogic a try. You can get started today with a free 30-day trial on all of our plans.
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