“Every company is a technology company.” If this wasn’t true when it was said during a Gartner Symposium keynote in 2013, then it is definitely true today.
To facilitate remote work, new digital business models, and overall business continuity during the COVID-19 crisis, major IT projects were implemented within weeks instead of months or years. This unprecedented disruption to our normal way of life, it seems, has spurred an overnight digital transformation.
But those organizations focusing entirely on tech are dealing with a pretty big blind spot: their people. For a business to become truly digital, people need to change skills, roles, and mindsets.
And this means leaders need to start asking tough questions: How can we build teams to get the business results we need without overspending? Are people engaged in this new reality–and how is this impacting productivity? Are we making cost-cutting decisions that will impact certain racial or gender groups disproportionately? These are multidimensional questions that can’t be answered with a single data source, like payroll.
People analytics delivers cost-effective HR transformation
All of these pressures might make it seem like you need to hire more analysts to wrangle, cleanse, and interpret your HR and business data. However, an analytics platform that comes pre-built to answer the questions that map to business strategy can help leaders get the answers they need–without having to wait for a data analyst to run and interpret a report.
At Micron, a semiconductor manufacturing company, the people analytics team is using our people analytics platform to provide workforce insights directly to leaders. To provide the same level of support without Visier, the analytics team would have needed to hire up to four more staff at an annual cost of approximately $500,000.
But this is not all about cost avoidance or replacing humans with machines–it’s about freeing a person’s time for more strategic or technical questions.
Many people analytics teams spend the majority of their time extracting data, manipulating it, and developing reports, which leaves little time for true analytics or strategic consulting. When people data is automatically gathered from multiple systems, they are able to spend more of their time on strategy instead.
To learn how organizations have not just saved costs, but also experienced revenue expansions with people analytics, read this report about the financial impact of Visier. In this report, we look at the quantitative value achieved by numerous organizations that have adopted people analytics. It is based on over three years of research into customer stories.
Success isn’t just for the trailblazers
People analytics may be uncharted territory for your organization, but there are many organizations that have broken a trail for you to follow. By learning about their challenges, analytics used, insights gleaned, and actions taken to achieve results, you can gain a better understanding of how a true people transformation–and not just a tech transformation–is within reach for your organization. Download the report, The Financial Impact of People Analytics: Journey of Visier Customers to Business Impact, today.
About the author: Caitlin Bigsby
Caitlin Bigsby has over 22 years of experience in HCM software solutions and has worked with dozens of organizations over the years to help them maximize the value of their investments, in both their people and their software. Caitlin shines a light on how analytic insight can elevate the strategy of Human Resources. In her spare time, she enjoys spending time with her family and dog, Toby.
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