Outsmart, the leading people analytics and workforce planning conference, takes place online on May 5-6, 2021. It’s free to register so save your spot today! In honor of the global digital summit, we’re excited to bring you this article featuring two speakers at this year’s event. Come back everyday leading up to the conference for more great insights. Enjoy!
There’s a strong chance that your organization is either planning on adopting people analytics or expanding your existing people analytics capabilities in the near future. In our uncertain world, the link between timely people insights and organizational health has never been clearer.
Embarking on a people analytics journey without the right kind of support can be slow and risky. But here’s the good news: you don’t have to do it alone. There is a highly connected community of professionals who can educate, inspire, and support you every step of the way.
In the spirit of “Outsmart Together,” the theme of Visier’s global digital summit, we reached out to Stela Lupushor, founder of Reframe.Work and Nigel Dias, Managing Director at 3n Strategy, and asked: What is the best way to leverage the wisdom of many to achieve success with people analytics?
4 tips for people analytics success
We compiled their answers into four tips you can use when learning from others who have blazed a trail for your organization.
1. Follow fast
Many innovative companies have already put people analytics to the test in the real world. Mainstream adopters who are just starting on their journeys can benefit from this.
As Stela explains, it is not only easier to get buy-in from the top, but many of the analytics solutions have matured and built up their capacity to scale across the organization to the right decision-makers. The data fluency of the end users (whether they are HR Business Partners or business leaders) has also grown, which means “the quality of questions and complexity of what they are looking to solve is going up,” she says.
Indeed, being a follower has its advantages. But organizations that do not plan to accelerate–let alone start–their people analytics journeys risk falling behind the pack. Research conducted in 2020 revealed that more than half of companies were expecting their people analytics technology investment to increase in the next 18 to 24 months. Now is the time to follow fast.
2. Replicate value–Not tactics
According to Nigel, there is a general sharing that happens in the people analytics community, and tapping into professional networks can help you find more examples of what works in practice. But when considering these examples, it’s important to really understand the value that the organization is creating for their business and how that applies to your own situation.
On this front, Nigel recommends asking a few key questions when consuming case study content:
3. Benchmark strategically
Benchmarks are another way to go outside the four walls of your organization to achieve success with people analytics. The key here, explains Nigel, is to get the right context:
“Benchmarks are an incredibly powerful piece of evidence–but like all evidence, benchmarks add most value when considered in the context of HR or business decision-making, and when they are used in conjunction with other metrics.”
He adds: “Do you simply want to know if your organization has few women in leadership compared to others in your industry, or do you want to make a decision (or answer a question) that will result in achieving parity? If HR leaders can retain this action-focused lens, it will be easier to take action and include other HR metrics to help achieve their goal.”
4. Go beyond knowledge sharing
Leveraging the wisdom of many doesn’t have to stop at sharing information. People analytics practitioners from separate organizations can actually pull together and work on the same initiative.
“At the onset of the pandemic, for example, some organizations were furloughing their workforce en masse while others were trying to cope with the growth and were desperately trying to hire more people. The heads of HR from Accenture, Lincoln Financial Group, Procore, and Verizon spearheaded an initiative that built an analytics platform called People+Work,” Stela explains.
This initiative allowed over 270 companies representing 94 countries to share over 380,000 roles and connect those who had talent with those who needed it.
“This was a perfect example of how the power of analytics enabled leaders to join forces–regardless of their competitive positioning–to solve societal issues,” she says.
Hear more from Stela and Nigel at Outsmart on Thursday, May 6 at 4:30-5:15pm EST in the industry expert panel: Where do we go from here? The future of HR: 2021 and Beyond. Register for the free digital conference today!