How to generate more business value from HR data?

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Knowing what happens to the people who make up your company is very important. There is general consensus on this, and that is why there are so many ways and disciplines dedicated to knowing what is happening at the Human Resources level within organizations. One of the most innovative options today is to use People Analytics to make the best decisions and generate more value for the business.

People Analytics allows data to be transformed into knowledge, facilitating its intelligent management through the use of dashboards for better analysis and interpretation that allows data to be put into context.

How to generate more value for your company from HR data? In this article we will tell you how.

Metrics that help answer questions

The first step is to think about and generate metrics that are Belgium Phone Number Lead relevant to the business and that allow you to answer the questions necessary to improve the company's performance or to understand more deeply what is happening in it.

By clearly defining the business questions, we can generate indicators that answer these central issues and, with them, make decisions based on relevant information and data that positively impact management.

A good way to have more relevant metrics that, in turn, allow us to generate more value for the business is by using the ISO 30414 standard: Guide to Internal and External Human Capital Reports , which provides very useful definitions when establishing indicators. Although we have already gone into more depth about its usefulness, here we highlight which points can specifically help to provide value through data:

Define stakeholders. Who will receive the information or data collected? This is important because, depending on who needs the information, the interests in it will change, as will the data that should be included in the dashboard or analysis to be developed.
Putting together a report for executives, who need general information on business results and impacts to make strategic decisions, is not the same as putting together a report for HRBPs, who use data for daily management and require a high level of detail and segmentation to be able to make operational decisions.

Knowing who the data is for, it is possible to generate more relevant indicators that respond to their questions and needs.

Risk management. This section of the ISO standard proposes questions that help reduce the number of indicators being worked with and, in turn, can lead to more relevant metrics. Thus, based on the different areas, it is possible to define risk situations and, based on them, think about the corresponding metrics.
Remember: It's very easy to make dashboards and fill them with graphs, but each graph and each piece of data must have a reason for being there.

Standardize formulas. To generate more uniform and homogeneous data throughout the entire organization.
Reporting media. Specify through which media the data, information, and resulting analysis will be transmitted.


The best strategy is the data strategy

Having a data strategy that is combined with technology is also very important for growth, as it allows teamwork between sectors and helps determine a secure flow of data to the right people.