Make Work Meaningful for your Employees. A People Analytics Approach that drives Business Results.

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How People Analytics Drives Business Results

Hello everyone, my name is Raluca Apostol and I'm the chief product officer at Nestor. We take a data-driven approach at Nestor to aid managers in coaching their people for improved performance, as well as enhancing the leadership culture.

Today, I am thrilled to share insights with you on people analytics and how it has become instrumental in driving business results and making work meaningful for employees.

Driving Business Results through People Analytics

"If everyone is moving forward together, then success takes care of itself" - Henry Ford.

  1. Employee Engagement: Employee engagement is a crucial advantage of employing people analytics. It affords us a good understanding of what high performing teams mean for your specific context and what constitutes business performance.
  2. Improved Information for Better Decisions: Data does indeed speak to us if we are willing to listen. It's crucial not merely to accumulate data, but also to focus on data that can guide your business towards success.
  3. Instances of Success: Perhaps putting a number to it would sound more convincing. If you implement a people analytics system, you could potentially enhance your recruiting efficiency by 80%, raise business productivity by 25%, or even lower attrition rates by as much as 50%!

Building a People Analytics Model

However, deploying people analytics is not to be taken lightly. Here are four main areas you need to consider when constructing a people analytics model for your company.

  1. Establish clear objectives: It's all about strategy. For instance, identify some key job roles in your company or perhaps pinpoint areas you want to optimize.
  2. Understand the science behind people analytics: Recognizing this area is essential, as missing this point is a common pitfall in people analytics.
  3. Embrace Technology: Technology can provide backing in terms of data visualization and reporting.
  4. Choose the right models: Whether you're leaning towards Artificial Intelligence, machine learning models or simple mathematical models, selection is crucial in this regard.

Creating an Action Plan for People Analytics

Prior to implementing your people analytics process, an action plan must be in place. The steps you'll want to consider include:

  • Identifying the data directly connected to your business outcome.
  • Including measures and embracing the technical support necessary for data collection and visualization.

The process can then be structured into iterations, where different aspects of the model can be tested and adjusted as necessary. This lean approach to people analytics offers the flexibility of quick changes if a model doesn't work as intended while involving your people in the process.

Final thoughts

Creating meaningful work for your employees can largely increase individual motivation and performance. Remember that embedding behavioral drivers into individual performance can be as critical as the measurable operational part. Finally, keep your mind open to embracing and learning from experiments. I look forward to hearing your thoughts and experiences on this topic.

Thank you for joining us for this insightful discussion on people analytics. For any questions or access to the slides from the session, feel free to email me at Raluca@nestor.com.

Until next time!


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