PEOPLE ANALYTICS METHODOLOGY AND HOW TOIMPROVE SOME KPI’s

Far gone is the image of HR departments as the ones that did the payroll or processed contracts and dismissals…. Fortunately, all their functions and the work they do every day have become more and more people-focused, becoming a strategic area in companies that drive the development and growth of the organisation.

A great methodology for people departments (HR, people&culture, call it what you will) is People Analytics or HR Analytics, through which metrics and KPIs are analysed to help us optimise decision-making and thus be able to design effective people management strategies.

When implementing the People Analytics methodology it is crucial to select which KPI’s are the ones we are going to analyse, we could probably define many, below, I refer to the main ones that from my point of view should not be missing in the analysis.

The implementation and analysis of this methodology is of utmost importance nowadays, given that companies are facing new paradigms and difficulties in the area of people management. But it is just as important to analyse these KPIs in order to have a clear picture and be able to make decisions, as it is to know what means and tools are available to improve these KPIs.

With the Corporate Health and Wellbeing Programmes (physical, emotional and financial wellbeing) that we design at BENEFIT BROKERS we can help to improve many of these KPIs.

1.- Recruiting: 

It’s no secret that recruiting and attracting talent is becoming more and more challenging. Have you ever stopped to think about what it is that you offer? How do you differentiate yourself from other companies? 

In a market where salary bands are so tight (there are hardly any differences in terms of remuneration between one company and another) what makes the difference, and is increasingly valued by candidates, are the added benefits offered, such as social benefits, flexible remuneration, flexibility, the possibility of teleworking, emotional salary, programmes and discounts for employees, etc.

Reasons for candidate rejection: If you do not offer the bonuses mentioned above, the candidate is likely to opt for another company that does offer them, all or some of them… and do you know that some of them do not necessarily entail an increase in costs? For example, with flexible remuneration you make available to the employee and help them to make an efficient distribution of their remuneration in obtaining a series of goods and services with better conditions than those they could obtain on their own and… with tax advantages! 🚀 🚀 🚀

Identifying the reasons for rejection can help to adjust the job offer and retain talent.

2.- Talent management:

– Turnover rate: many studies and analyses confirm that implementing health and wellness programmes, either as flexible remuneration or social benefits… greatly reduces job turnover, why? If you offer these advantages, as well as getting the employee to “wear the company shirt” and increase their feeling of belonging, you reduce the chances of them finding a better offer.

– Employee satisfaction: if employees feel that the company cares about them and their families, the increase in satisfaction is exponential, and as we already know… happy employees – increased results!!!!

– Salary evolution and competitiveness ratio: of course you can use it as a tool for salary negotiation… increasing the % assumed by the company.

3.- Productivity and Activity

– Absenteeism from work: with health and wellness programmes, absenteeism is drastically reduced, since it is possible to go directly to specialists, significantly shortening the procedures, visits to consultations and times for access to doctors and tests.

– Employee productivity: as I have said before, a motivated employee, with a sense of belonging and without worries (be they physical and emotional health or financial) is immensely more productive.

4.- Internal processes

– Work environment: at Benefit Brokers, we offer and create innovative solutions so that your team and your company have exactly what you need to work in an environment full of motivation, productivity, creativity, health and positivity.

Fernando Sierra Reus

Associate Director Health and People