People Analytics – A Promising Approach To Solving Complex HR Issues

Welingkar-Dr Anil Rao-SP MandaliA new concept has emerged in the field of Human Resource Management, known as ‘People Analytics’. The concept revolves round the fact that people are the building blocks of probable growth and innovation that can occur in an organization. The element of cost also comes under its purview.

“People Analytics draws heavily on big data enabled by technological advances, using the same in reference to behavioural pattern and people related issues. It streamlines businesses, irons out the complex issues at work; boosts employee loyalty and limits the churn (attrition)”, says Dr Anil Rao, Dean and Director –Welingkar, Bengaluru

Global giants have employed ‘people analytics’ to accelerate the profitability of the company by making the workplace more engaging. Global majors that have been successful with this concept include Facebook, Starbucks, Bank of America to name a few. The concept primarily deals with scope of manpower potential in achieving the organisational goals.

The fluidity of people analytics lies in the fact that it can be applied at different levels – individuals, groups or organisations as a whole. However, organisations are still in the process of figuring out how analytics could help take better people decisions within the organisation. The other areas that are under study include understanding workforce composition, assessment and reporting on key people issues, alignment to business strategy, improvement of employee data integrity, benchmarking key people metrics against external peers and more. So, the objective, data-driven and empirical approach that forms the basis of People analytics could pave a way for phasing out conventional HR practices that have proven ineffective and outdated.

Also Contributed by Prof Dr Uday Salunkhe, Group Director, WeSchool

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People Analytics Conjures Solutions To Complex Issues of HR

Welingkar-Dr Uday SalunkheWeSchool and NHRDN organized an HR Confluence on People Analytics at Welingkar campus in Bengaluru.

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.