• Time-to-hire: Measures the average time it takes to fill a vacant position.

  • Cost-per-hire: Calculates the total cost of hiring an employee.

  • Source of hire: Identifies the most effective channels for sourcing candidates.

  • Applicant tracking system (ATS) usage: Tracks the effectiveness of your ATS in attracting and screening candidates.
  • Employee satisfaction surveys: Measures how happy and satisfied your employees are with aspects of the workplace, such as culture, leadership, and job satisfaction.

  • Employee engagement surveys: Measures employee engagement levels and identifies areas for improvement.

  • Employee net promoter score (eNPS): Measures employee loyalty and willingness to recommend the company as an employer.

  • Absenteeism and turnover rates: Tracks employee absence and departure rates to identify potential issues.
  • Performance reviews: Assesses employee performance and provides feedback for improvement.

  • Training and development completion rates: Measures the effectiveness of employee training programs.

  • Key performance indicators (KPIs): Tracks individual and team performance against specific goals and objectives.
  • Workforce demographics: Analyses the diversity of your workforce in terms of gender, race, ethnicity, age, and other factors.

  • Training completion rates: Tracks the effectiveness of diversity and inclusion training programs and how far the employees complete them.

  • Employee resource group (ERG) participation: Measures the engagement of employees in ERGs.
  • Knowledge retention: Measures the effectiveness of training programs in improving employee skills and knowledge.

  • Training completion rates: Tracks the completion of training programs.

  • Career advancement: Tracks employee promotions and career progression.
  • Productivity: Measures the output of employees or teams.

  • Profitability: Measures the financial performance of the organisation.

  • Customer satisfaction: Measures customer satisfaction with the firm’s services.
  • Enhanced decision-making: People analytics enables HR professionals to base their decisions on data rather than gut feelings. This leads to more informed decisions about hiring, promotions, and workforce management.

  • Improved employee retention: By analysing patterns in employee turnover and engagement, recruiters can proactively address issues that lead to attrition, boosting retention rates.

  • Strategic workforce planning: People analytics helps recruiters prepare for future challenges by forecasting workforce needs, identifying skill gaps, predicting candidate success, and refining talent acquisition strategies.

  • Improved business performance: By aligning workforce strategies with business goals, people analytics can help implement targeted interventions to boost productivity, reduce costs, and enhance profitability.

  • Cost efficiency: By accurately forecasting workforce needs, HR can optimise labour costs, avoid overstaffing, and reduce the need for costly reactive hiring.
  1. Define your goals: Clearly communicate the specific goals you want to achieve through people analytics.
     
  2. Collect and organise data: Gather relevant data from various sources, including HR systems, employee surveys, and external databases. Clean it to ensure accuracy and consistency.

  3. Choose the right tools: Select software and technologies to organise, analyse, and visualise the data. Consider factors such as cost, ease of use, and integration with existing systems.

  4. Finalise key performance indicators (KPIs): Identify the most relevant factors to your goals. These may include employee satisfaction, turnover rates, productivity, and other metrics.

  5. Analyse and interpret data: Use data analysis techniques to extract insights and identify patterns and trends for workforce planning and ongoing improvements.

  6. Communicate insights: Share findings with relevant stakeholders, including HR professionals, managers, and executives, to understand data implications in talent acquisition, employee development, and performance management.

  7. Continuously improve: Regularly review and update your people analytics strategy to ensure it remains effective and updated to current/future needs.

  8. Foster a data-driven culture: Encourage employees to use data to inform decisions and improve performance.

  9. Address ethical considerations: Ensure data is collected and used ethically and responsibly.

  10. Measure success: Track the impact of your people analytics initiatives on organisational performance. Learn and adjust accordingly.