People Analytics conjures solutions to complex issues of HR

The conference held at Welingkar campus, Electronic City, Bengaluru witnessed experts from the industry discussing the significance of the emerging discipline of People Analytics and how the same can be applicable in the HR space in industry cutting across the sectors.

The Confluence with a cross sectional representation from the industry had Anil Jalali, Executive Director – HR, India Domestic & Area South, IBM as the chief guest.

The fact that people are the most decisive element of potential growth and innovation as well as cost underlines the significance of people analytics.

It is a data-driven approach to manage people at work and adheres to an approach known for its extensive and highly objective use of data for an objective analysis with reference to people-related issues, such as recruiting, performance evaluation, leadership, hiring and promotion, job and team design, and compensation.

"People analytics provides a unique opportunity for human-resource professionals to position themselves as strategic partners in the growth of an organization," an official statement claimed.

Anil Rao, Dean and Director –Welingkar, Bengaluru while talking of the rationale behind the Confluence, said, “Living in times of complexity, competitiveness and driven by highly aspirational goals, it is imperative to revisit and rethink our approach towards the biggest asset of an organization-its workforce. People Analytics spotlights the same. It s draws heavily on big data enabled by technological advances, using the same in reference to behavioral pattern and people related issues."

"It streamlines businesses, irons out the   complex issues at work; boosts employee loyalty and limits the churn (attrition).The onus lies on academia and the industry to sensitize the young managers and leaders and those in the business of shaping these  to sensitize the young leaders- to -be of the same. It won’t be an exaggeration to say that people analytics gives that incisive prescience to the managers at workplace,” Rao said.

Jalali underlined the role of people analytics as a strategic business partner in the organization.

He highlighted the fact that how a growing number of companies are using analytics to handle issues like attrition, employee engagement, though not as many are well-equipped for the same. Technological advance along with growing number of netizens makes it easy to feel the pulse of the workforce with careful data collection and analysis.

The HR confluence served as a platform to listen and share ideas on People Analytics.  With participation of stalwarts from the industry and academia, the event unfolded discussions on the journey of people analytics so far and the related challenges and best practices.