When we talk about human resource management, people analytics under coaching in the workplace are numbers of more typical measures that are interesting like time to fill, offer acceptance rate, internal growth rate such as HR expenses per FTE, layers and spans of control, staffing cost as a percentage of operating expenses, and diversity, and inclusion in the work culture as well as leadership development along with other closely related metrics.
There are many people who might be intimidated by algorithms and advanced statistical analysis, however, all of the complicated statistics may not be required as much to get started with HR analytics. Subtraction, division, and multiplication, and basic knowledge on Excel spreadsheet, with some of your common sense will have you go a long way! Just remember, everything is measurable.
How to enable Learning and Development to enhance Leadership Development?
As long as HR metrics drive or impact business results, you are in good hands; while for displaying metrics and data to be compelling enough, you need to be able to tell stories with the data into business outcomes to leverage business language and make it relevant to enable coaching in the workplace to outshine your employees.
Show them, don’t tell them or “sell” them as people are always open to embrace things that add value to their lives or businesses such as showing managers or frontline employees for leadership development as to how people metrics and analytics can make their lives easier, better, or more successful. Other departments may not pay heed to the importance of your metrics or think these aren’t critical enough for the organization’s performance, but it is the role of HR to showcase the value. With ever increasing stimuli and subsequent distractions, people evaluate inputs based on usefulness for them rather than usefulness to you.
Does Coaching in the Workplace help in enhancing Leadership Development?
Breaking down further into the Sentiment Analysis as a part of Natural Language Processing and relating emotion or “feelings” by categorizing them into positive, negative, or neutral) from a body of text using machine learning, HR tools allows you to get all sorts of value out of a treasure trove of data that was earlier logistically impossible to utilize unstructured text letting the world cash in on the rich pool of insights that every organization or coaching in the workplace has within the free text data of their Engagement Surveys, Exit Interviews, Performance Appraisals, or Interview Feedback Forms.
The problem arises mainly due to unstructured, qualitative data, as it was nearly impossible to analyze it and extract structured meaning but now that you have got natural language processing and more specifically sentiment analysis you can do a great deal in real time analytics.
Now that there are a ton of resources available for people getting started or already maturing on their journey towards people analytics and getting useful insights to better their leadership development initiatives.
Staying update on the latest tools and HR analytics process is the key to support all L&D initiatives. If you’re in an HR department and looking to enhance your people development processes and initiatives, connect with our subject matter experts and explore how our assessments can help, click here.