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People analytics strategies are more important then ever.
As 2022 gets closer, business leaders are exploring how to make a greater impact.
Great leaders push the envelope. They strive to solve big problems. Some may settle for the status quo as “part of business.” But the most effective leaders explore how we can break past these challenges.
Talent is no exception. Many businesses struggle with hiring the right people. The talent shortage is a nightmare.
Likewise, many struggle to unlock their staff’s true potential. However, people analytics provide leaders with a proven method here. They give us a proven process for selecting the right candidates. Furthermore, they offer a road map for driving performance.
2022 will be a banner year for people analytics. With each passing year, more business leaders appreciate the value offered by these tools. Here are three reasons why business leaders can’t sleep on a people analytics strategy any longer.
Innovation Requires Risk-Takers
Digital disruption is leaving no industry untouched. Retail, healthcare, manufacturing, finance…you name it. Technology is leading to big changes. Meanwhile, COVID has upended the way people live, work, shop and do business. Everything is changing.
Innovation is now more important than ever. The marketplace changes day by day. As a result, businesses need to rapidly adapt.
Many business leaders name innovation as a top priority. However, they always miss one key part. They miss a people analytics strategy! As a result, they fail to innovate. It happens again and again.
In order to innovate, you need the right people in the right positions. You need people who are comfortable taking big risks. And you need people who can make bold decisions. Without these types in key positions, you will fail to innovate. It’s inevitable. People analytics allow you to identify candidates that are comfortable with risk. And it greatly increases your chance of success.
It’s not just about innovation either. The same applies for any goal. You need the right people for the goal in the right roles!
Say you wanted to improve customer service. In this case, you need a delivery leader who’s very detail-oriented. They must be wired and driven to pay attention to details. After all, great service comes down to details. A people analytics strategy is about carefully designing the right team for your situation.
A People Analytics Strategy is a Proven Solution for Retaining Top Talent
Attracting and retaining top talent is a #1 concern for business leaders in 2021. Retention is the first step in any winning talent strategy. People analytics are super useful for this process.
With people analytics, you can find what drives team members. Some are motivated by recognition. Others are more motivated by making an impact. You can learn which are which. Finally, you can then use that information to retain your best performers.
With analytics, leaders can get customized reports on any given employee. You can also get team-based reports. That includes suggestions for supporting them in the workplace.
In a nutshell, people analytics take the guesswork out of leading team members. It helps you promote their growth. Lastly, it helps you keep them satisfied in the workplace.
It’s Now Unacceptable to Make Business Decisions Without Data
We now use data to guide virtually every business decision. Whether investments, marketing, or product launches, we always look at data. Our ability to track and analyze data has exploded over the past decade. Savvy business leaders are leveraging that every chance they get. There’s no reason to make decisions without data.
So why aren’t more business leaders using data to guide hiring? Or to drive performance? We can now use validated analytics to make better hires. The same can be said for inspiring performance.
A people analytics strategy eliminates the guesswork. Plain and simple.
Businesses Need People Analytics Strategy More Than Ever in 2022
Normal may be never coming back. COVID has permanently changed business. Meanwhile, technology continues to evolve.
Businesses can’t afford any less than hiring top talent. And they can’t afford so-so performance. In short, they need a rock solid talent strategy. Lastly, businesses need a talent strategy that supports business goals.
In conclusion, people analytics strategies are here to stay. Will you be an early adopter? Or will you play catch up?
