Future viability with the right talents
Competition for talented people has intensified enormously in recent years. More and more often, job vacancies remain unfilled. Countering this development requires not only new strategies for positioning companies on the market as attractive employers, but also a reconsideration of established HR processes and the more targeted use of existing and new HR data.
The data about the talents and skills to be found among an organization’s employees are too rarely matched with the situation on the applicant market to be able to meet the requirements of the business. Consequently, data-based HR decisions and the identification of strategic options for action are possible solely to a very limited extent.
People analytics offers useful support here — for faster and better strategic decisions.
Data-driven HR decisions using people analytics
People analytics employs data-based tool and process landscapes to facilitate strategic decisions based on (HR) data. The scope of its functions ranges from structured data processing within the framework of a standardized HR data model to user-friendly data visualization for various stakeholders. The integration of artificial intelligence and machine learning methods supports even the performance of future-oriented analyses.
Four dimensions are vital for the reliable generation of possible people insights:
HR Data Strategy
The development of a data strategy allows the quantification of the success and added value of people analytics for employees and companies.
HR Data Platform and Operation
The selection of instruments and platforms used in the HR department and in the company reveal potential for increasing efficiency.
HR Data Governance and Processes
The ways in which HR data, KPIs, or AI models are managed, developed, shared, and secured can permit conclusions to be drawn about HR-related decisions and processes.
Maturity in Analytics
Concrete analyses are the crucial foundation for fact- and data-based insights. Analytical models and algorithms are used on a case-by-case basis to make predictions in HR and subsequently to determine the right decisions.