In this article by Heather R. Huhman, she explains that the root to a better understanding of your workforce is understanding the data that they generate. This data is more than the reports that they generate or the accounting of salary and employee costs, but also the human data of people interacting with their company environment. To support this she reports:
“We found that we could give the same advice to a manager over and over again, but they didn’t always listen,” she said. “However, once we started sharing metrics and backing our statements up with data, our managers became incredibly invested in the results. “People analytics” involves the use of data to make decisions about company practices and processes. “With the help of people analytics,” Josebachvili (interviewed) continued, during our conversation, “our managers now feel truly responsible and empowered to own the engagement of their teams.”
However, many business leaders remain hesitant to start a widespread use of data tools. Especially for a startup, such tools might seem unnecessary or too expensive.
That’s a shame because, in actuality, using data to inform talent-management decisions helps companies dodge costly mistakes. Here are five wasteful situations that using people analytics could help companies avoid: A poor candidate experience, Mismatched employees, Incorrect assumptions about employees, Missed trends, Costly employee expenses