What is People Analytics? How do you define it?

  • People Analytics is defined as transforming how the HR team operates by meaningfully contributing to the organization's bottom line.

    Sometimes the term HR Analytics, People Analytics, and Workforce analytics are used interchangeably. But there is a slight difference in all these terms. Let’s understand this one by one.

    HR Analytics –

    It deals specifically with HR metrics such as hiring time, expense per employees for training, and time until promotion. All these functions are managed exclusively by HR.

    People Analytics –

    People analytics and HR analytics are almost the same as it is technically applicable to people in general. The term people analytics can also be applicable to employees and as well as customers of an organization.

    Workforce Analytics –

    Workforce analytics refers to all the employees of an organization; be it remote workers, freelancers, gigs workers, on-site employees, and consultants.

    What all metrics does HR Analytics measure –

    • Recruit best-fit employees
    • Get value quickly with pre-defined content
    • Assess diversity and find hidden bias
    • Measure performance across the board
    • Determine your flight risk
    • Get the right solution for your needs

    What all data does an HR analytics tool need?

    • Employee tenure
    • Employee compensation
    • Employee training records
    • Performance appraisal data
    • Reporting structure
    • Details on high-potential issue
    • Historical data

    There is no doubt that HR analytics takes into account a lot of work and produces some useful benefits. They streamline the process, reduce costs, reduce attrition, and improve the bottom line on a regular basis.

    SplashHR People analytics solutions come with pre-defined dashboards and reports. Start with a free trial today!