According to Deloitte’s Global Human Capital Trends 2016 report, 77% of executives now rate people analytics as a key priority for business decisions. This discipline is important in the HR space because it helps provide quantitative data and trend lines around employee productivity, happiness, engagement, and other metrics that ultimately impact productivity and are in turn incredibly important to any company. While data can come from many sources, at Dominion Payroll, we pull data from annual employee engagement surveys and benefits satisfaction surveys to help us better understand if we are meeting the needs of our employees over time.
Consistency of reporting and analysis of this data also helps us identify trends.
For instance, last year’s data demonstrated that the population of employees who have been with us for 2 – 5 years were struggling the most with engagement. This valuable data presented an opportunity for us to directly engage that group to determine where our intent and impact were misaligned and make some decisions based on that information to narrow that gap.
The Predictive People Analytics (PPA) platform gives us access to data around our people from all angles: recruiting, compensation, talent, organization, etc. We can use this data to see a snapshot of our time-to-fill in hiring and our turnover percentage by month and by year. These data points help create trendlines for us to build expectations around human behavior, business cycle, and time of year. In my opinion, the true value of the PPA platform is revealed in the amount of data around people and demographics that is right at your fingertips. Before using the PPA platform, I would have to pull multiple reports to get an overall view of our employee demographic breakdown. Now, it’s immediately available right on my dashboard.
Ultimately, having quick access to people analytics through the PPA platform helps Dominion Payroll use data to drive decision-making around hiring, compensation, and benefits. While I had access to all of this information previously, it was always in 1,000 different places and required multiple exports for our seven offices. I didn’t even know how badly we needed this!
Only 29% of HR professionals say they are good at making positive changes based on people analytics. Learn more about Predictive People Analytics to better understand your employees and retain your top talent!
About the Author
Dr. Shayna Cooke is Dominion Payroll’s Vice President of Human Capital. Dr. Cooke has now been part of the Dominion Payroll family for about 2 years primarily focusing on engagement and retention of talent through DP’s five pillars of focus; revenues, employees, clients, culture, and community. Dr. Shayna Cooke studied at the University of South Carolina and received her Doctor of Education at Virginia Commonwealth University.