WeSchool, in association with NHRDN, organized an HR Confluence on People Analytics.
Held at Welingkar campus in Bengaluru, industry experts discussed the significance of emerging discipline of People Analytics and its application in HR space. Mr. Anil Jalali, Executive Director – HR, India Domestic & Area South, IBM was invited as the chief guest.
The most decisive element of potential growth and innovation are people. People analytics is a data-driven approach to manage people at work. People analytics provides a unique opportunity for human-resource professionals to position themselves as strategic partners in the growth of an organization.
"Living in times of complexity, competitiveness and driven by highly aspirational goals, it is imperative to revisit and rethink our approach towards the biggest asset of an organization-its workforce. People Analytics spotlights the same." Dr. Anil Rao explained. People Analytics will help streamline businesses and resolve complex issues. It will also help boost employee loyalty. Dr. Rao further states that people analytics will give incisive prescience to the managers at workplace.
Global players like Google, Facebook and Starbucks have used people analytics to handle issues like attrition and employee engagement.
The violent unrest at Maruti Suzuki plant in Manesar was cited as an apt example to explain how people anlytics can come to company's rescue. A study reveals that certain measures could have helped curb the unrest in presence of proper analytics. "The idea is to anticipate people issues that affect the business and act promptly to achieve desired results," says Dr. Uday Salunkhe, Group Director of Welingkar Institute.
He adds that organizations are still working on means to gain deeper insights on how analytics can drive better people decisions internally.
People analytics offers nearly precise cost of fluctuations in this reference. It calculates the spike of employee engagement against annual profits. AT&T and Google have established the initiative taking traits is a far better metric to guage an individual on job. Thus, analytics can pave way for more data driven and derived facts instead of theories.
The HR confluence served as a platform to listen and share ideas on People Analytics. Industry experts and influencers participated to discuss the journey of people analytics and related challenges and best practices.
The experts listed three quintessential elements of people analysts:
1. Empathy
2. Ability to sell yourself
3. Flair for numbers and statistics
"Analysts should be well aligned to business challenges of the organization and use the analysis to address these elements. There is a huge market demand for people analysts. The onus lies on on the business schools on how fast and effectively they bridge the gap with appropriately skilled taelnt," Dr. Uday Salunkhe concluded on people analytics.
