Reinventing People Analytics

People analytics – a form of data and analysis that has revolutionized the workforce and staffing industries over the past two decades. As the digitization of the workplace and our understanding of data increases, the viability of people analytics becomes more apparent. We’re at a crucial point in the development of people analytics where employers have the chance to update and optimize their data processes with cutting-edge, innovative technology.

There’s Power in People

People analytics has been a powerful and popular tool for some time now, but many employers are still struggling to find the best ways to implement and optimize their people analytics. The Global Talent Trends Report, for example, found that although the majority of employees view people analytics as a useful and necessary tool – 73 percent – 55 percent of employers are still attempting to employ people analytics as an effective tool.¹ 

In particular, the Global Talent Trends Report identified five key areas of people analytics that employers will be trying to utilize over the next half-decade:

. Optimizing recruitment channels

. Implementing workplace plans

. Evaluating workforce and talent attraction

. Identifying skill gaps

. Tracking employee performance[2]

Strengthening all five of these areas is essential for businesses looking to optimize their workforce and increase their continued success.

Capitalizing on the Reskill Revolution

As technological innovation continues to digitize the workplace, the importance of upskilling and reskilling becomes increasingly relevant. Currently, we’re at the beginning of a reskilling revolution, where employers need to become more aware of their employees’ skillsets to be able to aptly utilize and improve them. The World Economic Forum found that nearly 50 percent of workers will need to reskill by 2025 to maintain occupational viability.[3] This revolution is prompting many employers to reflect on their workforce and ask themselves – Do I have all the tools in place to effectively and regularly reskill/upskill my employees?

Maintaining success in fast-paced industries means keeping up with all of the innovations and status quo shifts. While your knowledge of what’s up-to-date may stay relevant, your workforce’s skills won’t. This area highlights one of people analytics’ strongest capabilities as a tool; providing companies with full visibility into employee performance and skillsets so employers know which skills need improvement and reskilling and which employees are effectively upskilling.

Understanding your workforce’s performance and skillsets are all important parts of ensuring your business’s continued success. To better understand your employees as individuals and your workforce as a whole, implement people analytics that provide you with regular, insightful data and metrics that can influence your workforce management strategy.

Unlocking the Power of Data

Understanding your workforce’s performance and skillsets are both important parts of ensuring your business’ continued success. The importance of the employee experience and well-being will take center stage in 2022.[4] To improve employees’ morale and well-being,[5] optimize workforce planning, and find sustainable workplace designs that cater to employees’ strengths, businesses will need to implement people analytics that provides you with regular, insightful data and metrics. Harnessing workforce-centric data will allow you to directly improve your workforce management strategy.

Gaining insight into your workforce’s preference on flexible working, connection to company culture, and overall well-being are all potential benefits you can receive from refined people analytics. Through utilizing updated platforms and software for analytics, you’ll receive more actionable workforce data that’s available in a single location.

Keeping up with innovation means constantly improving how we collect and analyze data. Finding more specific metrics and tracking centralized data that improves over time are just a few of the ways employers can strengthen their data-backed workforce solutions.

Over the past two years, the importance of reskilling and upskilling, the employee experience, and restructuring offices for efficiency and sustainability are all issues that have been brought to the forefront of workers’ and employers’ minds. With people analytics, organizations will be able to target, strategize for, and tackle each of these issues with data-backed solutions.

If you’re looking to harness the power of people analytics, AppleOne has the technology and experience to make your organizational goals a reality. To learn more, visit appleone.com.

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[1] https://www.muchskills.com/blog/2020s-top-workplace-trends

[2] https://www.muchskills.com/blog/2020s-top-workplace-trends

[3] https://blog.appleone.com/2021/11/15/the-reskilling-revolution/

[4] https://hrforecast.com/top-5-hr-trends-for-2021-and-beyond/

[5] https://www.mypihr.com/hr-and-people-analytics-trends-to-expect/