Industry experts discussed the significance of emerging discipline of People Analytics and its application in HR space with Mr. Anil Jalali, Executive Director – HR, India Domestic & Area South, IBM as the chief guest.
People analytics is a data-driven approach to manage people at work. It provides an opportunity for HR professionals to become strategic partners in the growth of an organization.
“Living in times of complexity, competitiveness and driven by highly aspirational goals, it is imperative to revisit and rethink our approach towards workforce,” Dr. Anil Rao explained.
People Analytics will help streamline businesses and resolve complex issues. It will boost employee loyalty and give incisive prescience to the managers at workplace.
Global players have used people analytics to handle issues like attrition and employee engagement.
The violent unrest at Maruti Suzuki plant in Manesar was cited as an apt example to explain how people analytics can resolve issues. “The idea is to anticipate people issues that affect the business and act promptly to achieve desired results,” says Dr. Uday Salunkhe, Group Director of Welingkar Institute.
He adds that organizations are still working on means to gain deeper insights on how analytics can drive better people decisions internally.
People analytics calculates the spike of employee engagement against annual profits. AT&T and Google have established the initiative taking traits is a far better metric to gauge an individual on job. Thus, analytics can pave way for more data driven and derived facts instead of theories.
The event served as a platform to listen and share ideas on People Analytics. Industry experts and influencers participated to discuss the journey of people analytics and related challenges and best practices.
“Analysts should be well aligned to business challenges of the organization and use the analysis to address these elements. There is a huge market demand for people analysts. The onus lies on the business schools on how fast and effectively they bridge the gap with appropriately skilled talent,” Dr. Uday Salunkhe concluded on people analytics.