Navigating the complex world of HR operations can be daunting. Among other things, they tackle improving business processes, increasing people productivity, engagement and belonging, as well as the demand for accurate, meaningful people metrics and reporting. However, the rise of people analytics has greatly simplified these tasks, transforming the way HR operations are conducted. But how does this affect you if you’re still relying on basic spreadsheets for analysis?
HR analytics software is revolutionizing HR ops management, promoting data-driven decision-making in various areas such as talent acquisition, retention, compliance, and risk management. This article will explore how these tools can enhance your HR operations, and explain why transitioning from traditional spreadsheets is less challenging than you think.
Overcoming Spreadsheets’ Limitations in HR Analytics
So long, farewell and auf wiedersehen to the days of manually inputting data and grappling with complex formulas of error-prone spreadsheets. It’s a gigantic relief if you’re one of millions of HR operations professionals who’ve long been aware of the limitations of traditional spreadsheets. And there’s many of them, with challenges ranging from data security issues to a lack of real-time insights.
It can be numbing to spend large amounts of time collating and crunching numbers from multiple data sources. And what do you wind up with for your efforts? Not much more than a whole bunch of essentially vanity metrics. It’s not what you’d choose to spend your time on. But what can you do, when you’re faced with a steady stream of questions from leadership, and exponential amounts of data in your HCM or HRIS, ATS, LMS, payroll systems and more spreadsheets, that need serious manipulation in order to tell you something meaningful?
So, as HR ops, you push through the pain barrier and deliver what you can for management meetings, while knowing your static data isn’t up to par for supporting your broader business objectives.
Welcome to next-generation people analytics and their transformational power to eliminate spreadsheets forever.
Embracing People Analytics Software
Demand for flexible, scalable, and user-friendly HR solutions has become more pressing than ever as workplace landscapes continue to evolve. To this end, HR ops teams are increasingly recognizing the need for advanced tools to:
- Enable comprehensive data analysis
- Streamline processes
- Improve decision-making
All the same, the difficult task of handling complex HR data with a high degree of accuracy and efficiency is a major challenge when you’re relying solely on spreadsheets.
At the same time, you know that there’s no workplace challenge you can’t solve when you understand your people. This is why HR operations teams are increasingly adopting people analytics software, to understand their workforce and as a result, have a more positive impact on the entire business.
And here is how…
A Comparative Analysis: Spreadsheets vs. People Analytics Software
While spreadsheets have extremely limited capabilities, people analytics software enables seamless integration of data from multiple sources and different formats. It also transforms the data, allowing you to compare metrics you never could before. The result is a holistic view of your people data, across the entire employee lifecycle, in real time, and presented in a way that is meaningful and actionable by many stakeholders across the business.
Ultimately, integrated HR analytics enable a bigger picture overview, equipping HR operations to help –
- Recruit and hire smarter
- Identify, retain and develop top talent
- Identify and monitor progress on diversity programs
- Create better compensation strategies
- Increase your overall ROI and business performance
- Improve workforce planning and succession planning
- Present leadership with clear, concise and meaningful information (elevating the HR function in the process)
For example, manual spreadsheet data might be able to tell you which recruitment channels yielded the most hires over the past year. But HR analytics software can tell you which recruitment channels are truly the most effective by drilling down into factors such as:
- Absenteeism – annual leave, sick leave, any other paid or unpaid leave
- Employee movement – promotions, demotions, sidesteps
- Pay – wages and salaries, bonuses, any other perks
- Performance – KPIs, customer satisfaction ratings, sales versus targets
- Retention – duration of tenure
This demonstrates how you can leverage HR analytics in ways that might not be quite impossible but extremely difficult with the old spreadsheet model.
In addition, it highlights how people analytics software aids strategic planning by helping you identify and ideate the changes and projects your organization needs. As a result, you can expect to deliver robust and accurate reporting on topics like recruitment performance, channel performance and talent retention, consistently and easily.
And the great news is that contrary to popular belief, it doesn’t have to be expensive, difficult or disruptive to implement.
Selecting the Right People Analytics Software
To select the right people analytics software for your organisation, it’s important to define what you want to get out of it. So, think about your objectives. Do you want to:
- … manage your data better and create customizable HR dashboards? Leading people analytics software makes smooth sailing of data aggregation and compelling user-friendly visual interpretations.
- … get eyes on your people situation via your HR data? With good people analytics software, you can review your outlook through multiple horizontal and vertical lenses. As an example, you may want to compare any notable differences in terms of employee performance by site, line manager or training programs.
- … leverage your HR data to pre-empt future needs? Imagine using the past and present to predict the future. State-of-the-art people analytics exposes highly prescriptive insights at your fingertips, all while processing immense data quantities from your multiple existing systems.
Perhaps you want to do all these things!
You just need to get started. In uncertain economic times, investment in heavy lift software might not be top of list. That said, the benefits of people analytics software are a priority. Luckily, inexpensive but powerful systems like PeopleInsight by HireRoad can be integrated into your business in as little as 5 days with minimal disruption.
At HireRoad, our leading people analytics offering, PeopleInsight by HireRoad, marks a significant shift in the way you manage your biggest investment – your people, enabling you to:
- Achieve operational efficiency
- Nurture employee satisfaction
- Drive sustainable growth
Want to gain a comprehensive understanding of why more HR operations teams and organizations are embracing people analytics software? Book a free demo and see how this transformative shift can significantly enhance your HR operations in just 10 days.