On a recent SilkRoad webinar with HR Daily Advisor, we talked about how advances in people analytics are augmenting the business and HR operations of modern organizations. The event, called, The Next Frontier of People Analytics, explored how HR can up its game to become a strategic partner and essential source of analytical guidance. As our hour concluded, there were many terrific questions, but very honest one in particular caught our attention.
My company is scared of people analytics. What if the results show that something is really wrong?
People analytics involves the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. It’s now possible to examine data regarding recruitment, performance, employee mobility, and other factors, and use it to determine what does (and doesn’t) drive business results.
People analytics holds the promise of incredible value. It’s not hard to get started, and analytics implementations are known to pay for themselves far more quickly than other types of technology. Yet there is fear: fear of risk and compliance issues, fear of a lack of available talent to leverage data insights, and fear that data is simply too “all over the place.”
For the rest of my answer, feel free to check out the full piece on the SilkRoad blog.