New research by Deloitte Consulting LLP’s Bersin shows that people analytics, the use of employee data to help optimize business and management decisions, is strongly related to improved talent outcomes and an organization’s profitability.
In fact, high-maturity organizations, or those using people analytics in a sophisticated and insightful way, report 82 percent higher three-year average profit than their low-maturity counterparts.
In its newly-released report, “High-Impact People Analytics: The 2017 Maturity Model,” developed after one year of extensive research, Bersin identifies seven leading practices and describes ways that companies can rapidly improve their analytics strategies.
“People analytics has evolved into a powerful and important business discipline,” said Josh Bersin, principal, Deloitte Consulting LLP, and founder and editor-in-chief of Bersin, Deloitte’s digital destination for the human resources professional.
“Organizations that invest in this area are seeing above-average improvements in employee engagement, performance and profitability. Yet despite these clear advantages, only 17 percent of companies have achieved these benefits and some are far behind.”
Despite the potential business growth and the value derived from people analytics, only 2 percent of the organizations surveyed have reached the highest level of people analytics maturity.
The majority of companies surveyed are still in the midst of building HR data warehouses, enhancing data security and accuracy, collecting data more regularly and consolidating their employee-related data.
The Bersin report offers seven key research findings comparing organizations with high and low maturity analytics programs, and actions organizations can take to help improve their people analytics capabilities…
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