Where do people analytics fit into your numbers?
You will know your profit margin % and can find your growth in sales vs. last year in just a few clicks, but how much do you know about the people who deliver those results?
Do you know how many employees quit last year? And how long it took to replace those employees? What the cost of replacing those employees? What about your absence rates and how they compare to your competitors?
Knowing this data and understanding what to do with it is as important part of your business as your financial analysis.
So, what is people analytics?
People analytics is the science of using data about your employees to solve business problems.
Sometimes referred to as HR or workforce analytics, it's an important way of helping employers understand their workforce, as well as the drivers behind performance of those individuals.
You’ll be pleased to hear that you don’t need fancy platforms or analytics tools to get started with people analytics. Digital HR North East supply cost effective platforms to give you a solid starting point to get to grips with analysing your workforce.
A good HR platform will help you by centralising your Employee data and allow you to provide reports on:
Performance and training
Recruitment and applicants