People Analytics Birmingham (www.meetup.com/birmingham-people-analytics-meet-up) held its First People Analytics Meetup on Wednesday 28th October 2020 via Zoom. We were lucky to have HR and People Analytics professionals joining us via zoom from the UK and he US. We had a guest speaker Matthew Mee (Director, Workforce Intelligence at Emsi UK) was our guest speaker. Matthew Spoke about what people analytics is, current state of the labour market and what the demand of people analytics is. We also broke into discussions every 15 - 20 minutes and talked about a variety of people analytics topics which focused on the journey of the HR and People Analytics functions and what the future may hold. Below is a list of some of the topics that we discussed during this meetup:
People Analytics Room 101 (Matthew Mee Presenting)
- People Analytics industry is worth $2.5 Billion
- The industries is made up with Technology & Innovation, Management Consulting, Training and education and Research & Though Leadership.
- Why do we do people analytics? Workforce ROI, shareholder returns, revenue per employee, improving service, competitive advantage, enabling scale & growth and customer advocacy
- People Analytic is about using workforce data and people data to solve people problems
- Mitigating Risk - Manage costs, risk register, due diligence and employee turnover etc
- Monitoring compliance - Legislative compliance, ethics and audit etc
Business Critical Measures
- ISO standards for people analytics - Awareness is not great and there is a view that the ISO standards have not landed very well
- Top 5 people measures - 1. Business critical turnover, 2. Total cost of workforce as a % revenue & profit. 3 - Expenditure & ROI on L&D, 4. Impact of engagement on productivity.
5. Perceptions of leadership and culture by employees.
- Shared a business impact of people analytics case study (in recording/slides)
Tech you probably know about?
- Who are the data aggregators? data creators? Frequent analysis?
Case studies and communities (in recording/slides)
Discussion
- Technology vendors have exploded within people analytics e.g. Visier
- There has been a mad rush on how we manage a remote workforce and what data we need? There is a lot of data capture demand and there is a feeling that there will be a bigger need for people analytics in the future
- Vendor solutions - do you see organisations investing more on these specialist platforms or organisations integrating within the business corporately? It seems to be difficult to get a business case together when some vendors cant facilitate other parts of the business
- The whole impact of the current situation of covid-19 will have an impact on People Analytics and how do we keep pushing the People Analytics agenda within our organisations? (answer in the recording)
- The pandemic will force HR to get their act together in the People Analytics field
- During the survey conducted by HR Analytics Think Tank there was 66% of functions that took part believed they were not being used to their full potential. There seemed to be a disconnect between the HR and the People Analytics function
- People Analytics Projects need to be well matched to your audience which will increase the success in your projects
Labour Market Data (Matthew Mee Presenting)
- Unemployment up 4.5% this year compared to the financial crisis at 6.7% in 2009
- Forecasts for future unemployment is 9% - 13%
- OECD Forecast: Single & Double Hit Unemployment Rate
- UK Claimant Count Change - Biggest increase in London followed by West Midlands and Scotland
- Total cost of the furlough scheme £41.4bn, 9.6m employees were on furlough at some point
- Redundancies - Covid redundancies 227,256 compared to 2008/9 - 311,494
- The future? worrying times but December data maybe key for the true impact of CJRS to JSS
Job creation will be critical during these worrying times
- There is a demand for key worker roles at the moment
HR Tribes and families (Matthew Mee Presenting)
- EMSI are conducting research with Josh Bersin's academy
- Using EMSI's skill language to analyse the world of HR to define career pathways within the HR world
- There is a lot of statistical work being done on this research
- It will be interesting to see what skills are needed for people analytics roles
- There has been a big demand for people analytics this year and largely from the technology companies
- The pay range for the people analytics roles is £30k to over £200k with a median salary of £45k
- Key skills for the people analytics roles are Excel, R and Python etc
Any future points can be found in the recording of the meetup via the zoom link below:
