This podcast was recorded a part of the series “Digitaler Unternehmermut”, which deals broadly on how sucessful digital transformation works. Thank you Niklas and Michael for being such great hosts and letting mit talk about “Transforming HR with People Analytics”.
I hope you enjoy the podcast: Please share your feedback and questions with us.
Question #1: Why care about people analytics?
People Analytics has the ability to transform HR. Foremost by changing the mindset of adding business value. Read our post on how HR can learn from digital marketing to understand the needed change in mindset. I believe there is no other business function with a as much potential for positive impact as HR. Both, showing impact on purpose-driven engagement and financial figures, can be achieved by applying People Analytics.
Learning "Make People Analytics the change engine of your HR Transformation"
Question #2: What should I do and why is it not happening already?
While the importance of people and the HR function is postulate by senior leadership, there is limited investment to back up this ambition. Are we putting our best talent in HR? Are we spending enough time on strategic HR Topics? Are we spending enough money on technology? Do we have a clear HR Strategy, which distinguishes between doing things right vs. doing the right things?
Which use cases you choose, really depends on what is strategically important and if the case addresses an actual pain point in the company. Most important – make sure that you quantify the business impact in Euros to back up you claim of adding business value.
Learning: "Focus on what matters most in terms of business value to your company"
Question #3: When and How should I start with people analytics?
Data is never perfect and the timing for important, but non-urgen topics is never right. Start tomorrow by taking the first step. Spending months outlining a comprehensive strategic plan, concepts, and analysis is actually not the bottleneck in most large companies. Rather, it is the execution of these plans. Start with a single use case – one which matters to top managment and is limited in scope at the same time. Show and quantify the impact. Then ask for more budget and ressources. Take a look at our post, on how to start people analytics with no ressources.
Learning "start with a single use case, which matters to top managment. Show and quantify impact and build on the momentum"
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Interesting. Intense. Complex. In consequence a challenge for HR folks to make sense out of all this. This would be my summary from Zukunft Personal 2019. Let me try to help out by focusing on which questions mattered to me and which might also be important for you.
This webinar was given to the HR-Rookies Network Organization in August 2019. In part one we give a short answer to the question “What is people analytics and why should you care?“. In part two, Thomas demos an attrition prediction use case with our people analytics prototoyping app Peacock.