People Analytics is the process by which Human Resources analyzes data about their workforce in order to collect valuable insights which can drive better business decisions. People Analytics is also commonly referred to as HR Analytics, Human Capital Analytics, Talent Analytics or Workforce Analytics.
This requires using modern technology to combine data from various sources—like payroll, onboarding and learning management records—into one unified platform. Now, HR “teams of one” can benefit from depth of analysis that until recently would’ve needed a whole department of data experts.
Unlike traditional HR reporting, People Analytics is more than just tracking metrics. It allows business leaders to spot trends, make informed predictions and set reliable benchmarks.
How are People Analytics Used?
People analytics give HR leaders the tools they need to learn more about how their business really works and tackle their most pressing problems. Rather than wading through mountains of data, People Analytics allows leaders to find what they need, when they need it, and take away actionable insights.
People Analytics helps leaders:
- Understand what really drives employee retention and turnover
- Monitor and take steps to improve employee engagement
- Tackle the costs of unplanned overtime
- Spot compliance risks before they occur
- Analyze intra-organization movement to fight departmental brain drain
- Optimize recruitment pipelines and succession planning
- Identify the dynamics holding some categories of employees back
Read more about the differences between HR Reporting and People Analytics.
Paycor Analytics empowers HR leaders with best-in-class analysis tools to help them better understand their business, solve problems and drive growth. To learn more, view our in-depth guide on HR Analytics.