Powering Up Your People Analytics

Advanced analytics advocates have been working to transform the human resources landscape for over a decade. The majority of large organizations today have people analytics teams, and many business leaders are starting to identify people analytics as a top priority.

Unfortunately, most companies face key obstacles in building their people analytics capabilities. Leaders at many organizations acknowledge that what they may call “analytics” is just basic reporting with minimal impact on organizational results.

Many HR teams are still working with their technology partners to clean their data and streamline reporting. They cannot simply embed data analytics in their day-to-day processes, and the promise of analytics’ predictive power to propel better decision-making remains elusive.

People analytics can generate huge business benefits - the leading players see significant returns over laggards. But most organizations have barely started to develop their people analytics capabilities.

What can powering your people analytics do for your organization … and how can your organization climb the ladder?

Climbing the People Analytics Ladder

• Poor Data: Every organization starts at the bottom of the people analytics ladder - with poor data and even less information. The first step off that rung of the ladder is changing the organizational mindset to value data as the foundation of analytics, and recognizing that successful analysis demands consistent, structured data. Only then can your organization begin to develop the essential capabilities for collecting, storing, and controlling data.

• Good Data: This next step up the ladder is a big one … and it is difficult. Now that you have good data, you have to make it accessible to decision-makers quickly and effectively. Even if organizations have the data they need, they need time to experiment and to learn how to analyze it and generate insights that drive impact.

• Strong Data: Congratulations! As you take the next step up the ladder, your data game gets stronger! Your team’s capabilities are supported by technologies that disseminate timely, accurate information, and your reporting tools are configured to empower decision-making. Your HR decision-makers take a data-driven approach, and decisions are supported by data and analytics.

• Advanced Analytics: As you move to the advanced level on the ladder, your capabilities include data science and statistical expertise. You add advanced analytic specialists to your team and begin using statistical tools like Python and SPSS. A sophisticated mathematical understanding supports critical decisions, and the data-driven approach is trusted across the organization.

• Reliable Predictions: As you reach the top of the ladder, your organization can make reliable predictions through data and analytics. You have a high volume of reliable data and deep expertise in predictive analytics. Your HR Leaders use analytics to inform and enhance human judgments, contributing to more accurate predictions of outcomes.

People Analytics Success Ingredients

• Data Management: You will need HR team members who take full ownership of their data repositories, allowing them to rapidly test new ideas, iterate and reduce dependencies on enterprise-level technology resources while ensuring strategic alignment with both HR and organizational objectives.

• Analytics Capabilities: Your team will need deep technical knowledge and the ability to integrate and translate across a wide array of expertise and input. People analytics team members will need to be deeply grounded in data science and can translate data to make it understandable and hence convince the team to act.

• Operationalizing Your Model: Success with people analytics requires alignment with organizational priorities while maintaining space for open experimentation and innovation. Effective implementation of people analytics needs an iterative approach that allows learning to occur without the fear of failure to enable people to trust the data and the process.

Powering Up Your Candidate Assessments

There are many places to start building your organization’s people analytics capabilities. One of the highest impact areas to consider is candidate assessment.

Many organizations struggle to effectively assess candidates as the time-consuming tasks of reviewing resumes, conducting skills assessments, and interviewing to narrow the field are further hindered by the burden of (unconscious) interviewer bias.

Selecting the right candidates is vital to organizational success, especially during the Global War on Talent, while selecting the wrong candidate can have significant organizational costs.

At HireQuotient, our AI-powered business skills assessments help you capture objective skills data and feed your recruitment analytics engine to enable you to hire the right candidates better and faster.

Our chatbot-powered skill assessments are built around realistic work scenarios, ensuring candidates answer structured questions based on the provided data and generate insights into each candidate’s job-specific skills and business competencies.

In addition, our powerful, simple and easy-to-use dashboards allow you to create customized workflows for effortless operations, view detailed analytics for making data-driven decisions, and seamlessly integrate into your existing candidate automation flow.

Learn more about how HireQuotient can help your organization power up your people analytics. Just visit https://hirequotient.com to schedule a demo today!