Seen a lot of turnover at your company lately? You’re not alone. More than 19 million US workers have quit their jobs since April 2021. Forty percent of employees surveyed by McKinsey said “they are at least somewhat likely to quit in the next three to six months.” Your company cannot afford to continue to lose talent.
Luckily, there’s a simple data solution that can give you key insights into your workforce—and TIBCO can attest to its potential—advanced people analytics.
What Are People Analytics and Why Do They Matter?
People analytics, or Human Resource (HR) analytics, is a collection of data that points to ways HR can improve talent and business outcomes, increase employee satisfaction, and promote a better working environment. Some examples include diversity rates, happiness metrics, salary ranges compared to market expectations, turnover rates, and much more.
With robust analytics in place, HR departments can be more focused on how they budget, plan, and strategize for succession management—ensuring equity and compliance with greater agility. They can deliver tools and platforms that help teams optimize employee wellness, education, and productivity while committing to a greater work-life balance.
From Reactive to Proactive: TIBCO’s Strategic HR
Like many large companies, TIBCO’s HR department had a wealth of information about employees but wanted to be more strategic in using analytics for greater insight. The department had several goals:
- Decrease talent attrition
- Increase employee engagement
- Ensure more diversity
- Reduce time-to-hire
The TIBCO Connected Intelligence suite offered HR world-class technology to help the department advance beyond its business intelligence needs to meet its pressing goals. Using TIBCO technology, the People Analytics team unified their data, rolled out initial summary dashboards, then scaled to add predictive analytics dashboards. Business leaders across TIBCO have benefited from the project with 100 percent of managers using self-service analytics to dynamically analyze team headcount, hiring, attrition, compensation, and performance; reduced time-to-fill intervals for open positions; faster responsiveness to HR requests, and lower employee turnover.
HR’s new analytics have opened the door for data-backed decisions on diversity and inclusion. Elijah Ross, HR diversity, equity, and inclusion analyst explains, “Through analysis, we’ve found that more diverse teams perform well; they’ve had higher engagement based on surveys.” According to the team, the change has been phenomenal.
Transform Your HR Ecosystem with TIBCO
The time to transform your HR strategy is now. When HR facilitates a positive employee experience, organizations are almost two times more likely to report increased performance.
“Being able to turn data into insights is such a critical need, especially now. These metrics have allowed us to highlight areas of focus so much quicker and with deeper analysis than we ever could before. I’m a huge fan of TIBCO People Analytics.”
—Michele Haddad, chief people officer, TIBCO
Turn your Great Resignation, into the Great Retention, through data-driven decision making and insight-based actions with TIBCO Connected Intelligence. Read the full case study here to learn more about how your HR department can become strategic and agile in an ever-changing market.