Failure is often feared, perceived as a threat to reputation and a sign of incompetence. However, it is failure in its very self that plays a critical role in driving innovation and learning within organisations.
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With the recent public launch of our latest Insight222 Building the People Analytics Ecosystem: Operating Model v 2.0 research we wanted to highlight some of our key findings, what it means for people analytics, and how it can drive strategic decision-making and deliver impactful business outcomes.
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With senior stakeholders taking a wider interest in the tangible financial benefits of their people function over the years, the people analytics function has achieved significant growth and influence across the business landscape.
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As HR and people analytics Leaders, we are well aware of the value that people analytics can have on the organisation. After all, it's what we do. However, demonstrating that to the C-suite is a whole other ball game. We are on the precipice of building a data-driven culture.
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In today's data-driven world, organisations increasingly rely on data to make informed decisions. This is especially true in the realm of people analytics, where various analytical techniques are used to extract meaningful insights from employee and organisational data.
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Artificial Intelligence (AI) continues to reshape industries worldwide, and Human Resources (HR) is no exception. In our most recent webinar, industry experts Justin Shemeley, a Global People Analytics Leader at Ernst & Young (EY); Andrew Elston, a Principal Consultant specialising in Workforce Planning at HSBC; and our very own Jasdeep Kareer, a seasoned Data Science and People Analytics practitioner and now a Senior Director at Insight222 discussed the evolving role of AI in HR and its impact on organisational strategies.
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With the exponential growth in people analytics, the ethical implications of gathering and workforce intelligence in human resources (HR) management have become a critical area of focus.
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With all the data we hold on our employees, from the interactions they make within the organisation to their performance metrics and engagement levels, there is a huge opportunity for HR leaders to use this valuable information to revolutionise the workplace experience.
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As the HR function continues to evolve into a strategic business partner, it's increasingly important for HR leaders and professionals to continuously upskill and expand their knowledge. With technological advancements, changing workforce dynamics, and an ever-evolving business landscape, traditional HR practices may no longer suffice to support an organisation’s goals and objectives effectively.
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The decisions we make today shape the strategic capabilities of tomorrow. To secure investment and buy-in from senior executives, it's crucial to demonstrate the tangible financial benefits of people analytics. Our Insight222 People Analytics Trends 2023 report highlights that Leading Companies are already leveraging people analytics to drive financial outcomes.
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