In a recent report, “Key Criteria for Evaluating People Analytics,” distinguished analyst Stowe Boyd looks at the emerging field of people analytics, and examines the platforms that focus on human resources and the criteria with which to best judge their capabilities.
Stowe in the report outlines the table stakes criteria of People Analytics—the essential features and capabilities without which a platform can’t be considered relevant in this sector. These include basic analytic elements such as recording performance reviews, attendance monitoring, and integration with other HR tools.
The report also defines the key criteria, or the features that actively differentiate products within the market and help organizations to choose an appropriate solution. These criteria include:
- Full employee life cycle tracking
- Support for different employee types (seasonal or freelance workers)
- Employee surveys
- Diversity and inclusion monitoring
Stowe also looks at the rapid innovation and emerging technologies within the sector. He points to scenario planning and combining business and people data as two of the most important new technologies. These will, he argues, be used by organizations to engage their workforce, plan for difficult events, and help to find workplace efficiencies that benefit staff, customers, and business.
Finally, the report defines the criteria Stowe recommends for evaluating people analytics platforms. A key suggestion is to consider platforms that allow organizations to set goals and progress targets for employees, which is a great way to boost employee engagement and increase productivity.
The people analytics market is seeing enormous change and innovation, Stowe states, and will leverage AI and analytics heavily in the future for the good of individuals, their teams, and the business itself.
Read more about the report here.