By | Manpreet Randhawa | www.myhrfuture.com
The rapidly changing business landscape has employers focusing on providing their workforce with the most positive experience, as a positive employee experience has contributed to more employee satisfaction, higher productivity, and greater organisational outcomes. To improve employee experience, HR professionals and business leaders are learning to understand the vital role people analytics has in the success of their efforts.
Why is People Analytics Important for Positive Employee Experience?
Employee experience is a continuing effort. With the labour market changing and becoming more competitive, it is vital for businesses to be more strategic. During a rapid growth period or uncertain economic periods, people analytics provides quantitative and qualitative data analytics for better people management planning and execution. This plays a major role in employee experience.
Because of its effectiveness, it is growing in practice. Our Insight222 2022 People Analytics Trends research, which surveyed 184 global companies, revealed substantial growth of the total people analytics employees within organisations. The research showed that the total employee headcount increased, from 1:4000 in 2020 to 1:2900 in 2021, and it has held strong in 2022. This means that in a company of 100,000 employees, the people analytics team size is, on average, 34 in 2022 and 2021, compared with 25 in 2020.
“… we’ve seen that with the research that we’ve been doing at Insight222 over the years, that the importance and the influence of people analytics on the C-suite to make decisions is increasing all the time, probable still not where we want it to be, but it is improving, and the best people analytics teams are solving business challenges and actually delivering outcomes for the business, but also for the employees as well.”
Additionally, the research shows that of the companies surveyed, 65% indicated that they increased their team size in the previous 12 months, compared to 55% in 2020. This growth is expected to continue as 68% of companies predict their team size to increase in the next 18-24 months as they strive to become or remain Leading Companies.