{"id":6457,"date":"2022-10-25T12:08:05","date_gmt":"2022-10-25T12:08:05","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/people-analytics-an-important-ally-in-corporate-decision-making\/"},"modified":"2023-07-26T13:59:58","modified_gmt":"2023-07-26T13:59:58","slug":"people-analytics-an-important-ally-in-corporate-decision-making","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/people-analytics-an-important-ally-in-corporate-decision-making\/","title":{"rendered":"People analytics: An important ally in corporate decision-making"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/espa.io\/wp-content\/uploads\/2023\/06\/people-analytics-simantikos-symmaxos-sti-lipsi-etairikon-apofaseon-1024x538.webp\" alt=\"\"\/><\/figure>\n\n<p class=\"wp-block-paragraph\">The use of human resources data in Greek companies was the subject of the <strong>People Analytics Deree &amp; KPMG<\/strong>. The survey was conducted in collaboration with the <strong>\n  <a href=\"https:\/\/www.acg.edu\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Deree &#8211; The American College of Greece<\/a>\n<\/strong> and <strong><a href=\"https:\/\/kpmg.com\/gr\/el\/home.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">KPMG<\/a> in Greece<\/strong>.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3C4;&#x3B9;-&#x3B5;&#x3AF;&#x3BD;&#x3B1;&#x3B9;-&#x3C4;&#x3B1;-people-analytics\"><strong>What are people analytics<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\"><strong>People analytics is the collection and processing of data about human resources.<\/strong> The aim is to make corporate decisions that will help <strong>make the most of it.<\/strong> The most effective <strong>utilization of human resources<\/strong> will lead to the achievement of the company&#8217;s goals. Globally, <strong>people analytics play a catalytic role in the efficient operation of businesses.<\/strong> In this context, it is interesting to investigate <strong>to what extent businesses in Greece have adopted such practice<\/strong>s and what effect they have on corporate decisions.<\/p>\n\n<p class=\"wp-block-paragraph\">The <strong>&#8220;uncharted waters&#8221;<\/strong> for this practice in Greece are sought to be covered by this research. During research, <strong>data from 107 companies were collected and analyzed.<\/strong> Specifically, the aim was to capture the degree of adoption of <strong>people analytics<\/strong> by businesses in Greece. Also the <strong>identification of the factors<\/strong> that influence the adoption of these data. At the same time, an attempt was made <strong>to capture the impact of people analytics<\/strong> on a series of indicators related to business efficiency.<\/p>\n\n<p class=\"wp-block-paragraph\">In order to form a complete picture of the above issues as well as how they evolve over time, the goal was to <strong>systematically repeat the research.<\/strong><\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3BA;&#x3CD;&#x3C1;&#x3B9;&#x3B1;-&#x3B5;&#x3C5;&#x3C1;&#x3AE;&#x3BC;&#x3B1;&#x3C4;&#x3B1;-&#x3C4;&#x3BF;&#x3C5;-people-analytics\"><strong>Main findings<\/strong> <strong>of people analytics<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">According to the results of the survey, the three most <strong>important reasons for using<\/strong> people analytics are:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>making better business decisions<\/strong><\/li>\n\n\n\n<li><strong>the strengthening of the data-driven management model<\/strong><\/li>\n\n\n\n<li><strong>the need for better management of employees<\/strong><\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">Regarding the three <strong>biggest challenges in the use<\/strong> of people analytics, these concern:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>complex computational processes<\/strong><\/li>\n\n\n\n<li><strong>managing large amounts of data<\/strong><\/li>\n\n\n\n<li><strong>the lack of relevant resources<\/strong><\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">The <strong>greatest use<\/strong> of people analytics is observed in:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Remuneration and benefits issues<\/strong><\/li>\n\n\n\n<li><strong>Employee performance management and engagement<\/strong><\/li>\n\n\n\n<li><strong>more limited use is found in diversity and inclusion issues<\/strong><\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">The overall picture shows that companies are currently <strong>focusing on descriptive analyses,<\/strong> and are using key HR tools or IT systems. Based on the research, companies are ranked in <strong>4 levels of maturity of using<\/strong> <strong>people analytics<\/strong>, with the highest degree of maturity including advanced types of analytics, as well as sophisticated tools and information systems. Thus, the following categories are highlighted:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>key users (24% of companies)<\/strong><\/li>\n\n\n\n<li><strong>Up-and-coming (39%)<\/strong><\/li>\n\n\n\n<li><strong>the evolved (23%)<\/strong><\/li>\n\n\n\n<li><strong>a small percentage of pioneers (13%)<\/strong><\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">Companies with greater maturity in using people analytics see <strong>higher organizational and financial performance,<\/strong> as well as more effective HR management.<\/p>\n\n<p class=\"wp-block-paragraph\">Prerequisites for the adoption of people analytics are:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>the skills of HR executives in the use of people analytics<\/strong><\/li>\n\n\n\n<li><strong>Data based culture<\/strong><\/li>\n\n\n\n<li><strong>the support of top management<\/strong><\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">However, what seems to differentiate the pioneers from the rest of the users is <strong>the <a href=\"https:\/\/espa.io\/en\/c\/informatics\/\" target=\"_blank\" rel=\"noreferrer noopener\">investment in IT infrastructure<\/a><\/strong> and the full alignment of the HR strategy with the operational strategy.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3BA;&#x3C9;&#x3BD;&#x3C3;&#x3C4;&#x3B1;&#x3BD;&#x3C4;&#x3AF;&#x3BD;&#x3BF;&#x3C2;-&#x3C4;&#x3B1;&#x3C3;&#x3BF;&#x3CD;&#x3BB;&#x3B7;&#x3C2;-&#x3B1;&#x3BD;&#x3B1;&#x3C0;&#x3BB;&#x3B7;&#x3C1;&#x3C9;&#x3C4;&#x3AE;&#x3C2;-&#x3BA;&#x3B1;&#x3B8;&#x3B7;&#x3B3;&#x3B7;&#x3C4;&#x3AE;&#x3C2;-&#x3C4;&#x3BF;&#x3C5;-deree-&#x3C3;&#x3C4;&#x3BF;&#x3BD;-&#x3C4;&#x3BF;&#x3BC;&#x3AD;&#x3B1;-&#x3C4;&#x3B7;&#x3C2;-&#x3B4;&#x3B9;&#x3BF;&#x3AF;&#x3BA;&#x3B7;&#x3C3;&#x3B7;&#x3C2;-&#x3B1;&#x3BD;&#x3B8;&#x3C1;&#x3CE;&#x3C0;&#x3B9;&#x3BD;&#x3BF;&#x3C5;-&#x3B4;&#x3C5;&#x3BD;&#x3B1;&#x3BC;&#x3B9;&#x3BA;&#x3BF;&#x3CD;\"><strong>Konstantinos Tasoulis, Deree Associate Professor in the field of Human Resource Management<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">&#8220;The findings show that <strong>a high percentage of companies<\/strong> surveyed <strong>appreciate the value of people analytics<\/strong> and their potential to improve human resource decision-making. Investing in people analytics should be considered<strong> a means to an end<\/strong>, as it provides essential information to the top management who <strong>Support<\/strong> <strong>the formulation of a strategy, investment proposals with tangible results and clear data to support decisions in the company.<\/strong> Undoubtedly, their implementation poses challenges, however, the benefits of making smarter, informed decisions can be many. This <strong>investment not only pays off, but becomes a competitive necessity<\/strong> as businesses grow in size.&#8221;<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3B3;&#x3B5;&#x3C9;&#x3C1;&#x3B3;&#x3AF;&#x3B1;-&#x3BA;&#x3B1;&#x3BB;&#x3B5;&#x3BC;&#x3AF;&#x3B4;&#x3BF;&#x3C5;-senior-manager-people-services-consulting-kpmg-&#x3C3;&#x3C4;&#x3B7;&#x3BD;-&#x3B5;&#x3BB;&#x3BB;&#x3AC;&#x3B4;&#x3B1;\"><strong>Georgia Kalemidou, senior manager, People Services, Consulting, KPMG in Greece<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\"><strong>&#8220;Businesses in Greece are at different stages of maturity<\/strong> when it comes to leveraging people analytics. The development of a data-driven <strong>culture of decision-making<\/strong> on <strong>human resources issues<\/strong> is <strong>essential<\/strong> for the best use of data. The <strong>scattered elements<\/strong> of human resources within the organization make it difficult to implement such an exhortation.<\/p>\n\n<p class=\"wp-block-paragraph\">Gradually, however, a company can go through the simple combination of some information <strong>in methods of predicting future behaviors<\/strong> e.g. what are those characteristics that make an employee successful in a particular role, or which employees are likely to seek professional opportunities outside the company in the coming year. Such information <strong>are important in shaping the recruitment strategy<\/strong> and utilization of executives. The <strong>technology<\/strong> and <strong>capabilities<\/strong> offered by human resource management systems can <strong>contribute significantly<\/strong> in this direction provided that the executives themselves turn to more innovative approaches to managing the issues that arise in their daily lives&#8221;.<\/p>\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.espa.io\/epidotisi\/arrange-a-call\/\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The use of human resources data in Greek companies was the subject of the People Analytics Deree &amp; KPMG. The survey was conducted in collaboration with the Deree &#8211; The American College of Greece and KPMG in Greece. What are people analytics People analytics is the collection and processing of data about human resources. The 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