Are you using data to drive your people decisions and strategies?
This week we partnered with Namely for a live webinar discussing the importance of utilizing data to form key people decisions, and how to more effectively influence leadership through data insights...
In today’s modern workplace, people teams are recognizing that they need to incorporate more data in their processes; with over 80% of us having data on our mind. Yet the biggest hurdle is getting started - HR teams don’t know where to begin or even how to gather and interpret their data - just 37% of us are actually using data to our advantage on a regular basis. Check out the webinar recording below and get ready to join the 37% - with a guide for using data and analytics in the most effective way.
In the webinar we covered three simple areas of focus: why to make influencing with data a top priority, how HR data plays out today, and tips for bringing your insights to life, effectively influencing top leadership.
We recognize that data is becoming the primary decision driver cross-functionally for high-growth companies. The problem? Most HR teams are behind the curve, caused by an inability to utilize data to its fullest.
The challenge lies in differentiating between data, metrics, and analytics. Data focuses on raising awareness through single bits of information, metrics connect meaningful data points, and analytics utilize data across the entire talent lifecycle to drive strategic talent decisions. Knowing the difference between these points will help you to articulate the right argument for your case.
Being an effective HR leader means utilizing data to drive decisions, further empowering your team to make an impact. The most common sources for gathering data include headcount (how fast are you growing?), attrition (compared to how many people you’re losing?), milestones (who’s hitting anniversaries?), job changes (who’s moving, getting promoted?), payroll and salary data.
As we learned through polling webinar attendees, 1 in 3 claimed to be actively utilizing data related to performance engagement (performance management, comp, and recognition).
Recognition is often an overlooked area of your comprehensive HR strategy when it comes to measurement, with just 1 in 10 organizations measuring their total rewards programs - meaning many leaders often have little understanding of the type of benefits your critical employee segments value most.
At Blueboard, we believe that recognition programs are most effective when they are: measurable, long-lasting, and authentic. Let’s break this down in more detail:
Now you have the data, where do you take it? Most HR teams are in the “data aware” phase where they know that informing decisions through data is important, but they don’t necessarily know how to use it.
The goal is to move towards becoming more “data influenced” and eventually making data-based decisions. However, people commonly run into three main blockers:
Driving influence with data is by far the most effective strategy, but it needs to be crafted carefully and thoughtfully. To address the above obstacles, we have outlined three main factors to focus on when creating your initial presentation.
Using data to push decisions is a craft, so take time to collect and analyze the data and carefully create a presentation based on these steps. Be mindful of where you’re at with data readiness, don’t risk credibility, be patient with the process.
Now that you have the tools, are you ready to implement them and create a culture of recognition? We’re excited to connect with you and to share how Blueboard can easily scale your recognition program through meaningful, personal, and buzz-worthy experiential gifts for employees.
See you next time,