How to make better decisions with People Analytics

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At this point, companies that want to grow and achieve their business objectives are those that also know something fundamental: it is the people who make the company. That is, just as it is very important to look for ways to generate better business results, it is also necessary to improve the working conditions and/or environment of employees.

These are not dichotomous issues, but rather they coexist perfectly; in fact, the latter is a condition for the former. Richard Branson, owner of the Virgin Group holding company, once said: “If you take care of your employees, they will take care of your customers.”

Knowing what the problems are of the people who make up your company, how to improve their day-to-day work experience, or even which employees deserve a raise or which candidates deserve an opportunity in another sector or a promotion, can exponentially increase the performance of your business. And relying on intuition for these questions is sometimes not a good idea: people are complex; and everything that has to do with us and involves us is also complex.

This is where the People Analytics approach can help answer people-related questions – from HR and other areas – and make decisions based on quantifiable, reliable and accurate data. But what is People Analytics?

Knowing people: the secret of People Analytics

People Analytics is a set of disciplines that uses data and information available about people to gather evidence and make informed decisions. By combining statistical analysis with computational power, it finds relevant insights for decision making from multiple sources: for example, HR data, business data and external data.

But it is not just the collection of data on the company's employees and collaborators - and then leaving them inactive - without knowing what to do with them. It is a process of analysis and interpretation of this data, to better understand people's behavior and implement actions that increase their productivity, leading to better business results.

Specifically, People Analytics consists of:

Smarter dashboards : These allow you to put data into context, such as the total amount of overtime hours in relation to the percentage of payroll they represent, or the turnover rate and Brazil Phone Number Lead the cost it represents. They also allow you to cross-reference existing data, such as salary ranking and performance, absenteeism and engagement, or incorporate external information.
Answers to specific questions . Once we know what we want to find out, we can look for the answers and discover patterns. Which employees are most likely to quit? Which candidates are most likely to be top performers? What variables most influence performance, absenteeism, etc.?
Generating data, transforming it into knowledge and managing it intelligently are key to achieving the best results for any company. The goal of People Analytics is not to collect data, but to help you make better data-driven decisions.

What other benefits does People Analytics have?

You may still be wondering what other advantages People Analytics can bring to your company. But first, one thing needs to be made clear: it doesn't matter what stage of development your business is in regarding data and information management. It doesn't matter if you're starting from scratch, without automated reports, with reports dependent on a single person or with isolated efforts in developing dashboards; or if you have a BI area, ERP and several other platforms, and even automated Human Resources dashboards, but you don't know how to give more value to all that information. The solution is the same: ask the right questions to define the indicators that will then allow you to make the best decisions.