In recent weeks, Spring had the opportunity to speak at multiple HR events focusing on how an organization can build their people analytics capabilities. For some, this was their first introduction to people analytics, for others, it was an opportunity to see what business decisions can be informed by more advanced analytics.
Two of the most common questions we heard were ‘what if we do not have big data and still want to do analytics?’ and ‘we are a small company with either no or limited resources, where do we start?’. So here are some basic recommendations for those of us that are not working in the Google’s, Amazon’s and Facebook’s of the world.
For most companies, the business questions to start with are those where you have consistent and easily accessible data – such as ‘what are the predictors of turnover?’, ‘what is turnover costing us as a business?’, ‘what recruiting sources provide us with the most successful employees?’. If you have solid HRIS data, recruitment, turnover and exit data – this can be accomplished relatively easily.
For those companies, who are conducting an employee engagement survey on a regular basis, this is a great data source that can be leveraged in many people analytics projects. The critical element of success here, is that your surveys should be attributable to allow for connection points to other data.
In essence, do not be intimidated by large scale data, new tools, algorithms, and machine learning – not everyone is ready for that kind of investment. Think big but start small and work from there.