“High-Impact People Analytics: Study Reveals a New Breed of HR Analytics Teams” explores the rise of people analytics in HR departments. It reveals that 69% of large organisations now have a people analytics team, up from 15% in 2015. These teams are reportedly making a significant impact on business performance.
The study, conducted by Bersin, Deloitte Consulting LLP, found that organisations using people analytics outperform their peers in quality of hire, retention, and leadership capabilities by 30%. This is due to the ability of these teams to make data-driven decisions about people and talent.
The report also highlights the evolution of people analytics. Initially, these teams focused on reporting and improving HR operations. Now, they are moving towards predicting and prescribing business outcomes. They are also integrating data from diverse sources, including business data and external labour market data.
Despite the success of people analytics, challenges remain. Many organisations struggle to move from operational reporting to advanced analytics. Additionally, privacy and ethical issues are a growing concern.
The study concludes that people analytics is a business function that is here to stay. For organisations to succeed, they must invest in people analytics capabilities and address the associated challenges.
Go to source article: http://www.bersin.com/News/Content.aspx?id=19301