People Insights Can Drive Big Financial Impact: RedThread Research Report on People Analytics for C-Suite

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A new report from RedThread Research, Unlocking the Hidden C-Suite Power: People Analytics, offers insights and analyses into the role of people analytics in helping the C-suite with strategic challenges, and identifies a growing opportunity for the C-suite, People Analytics leaders, and Heads of HR to partner differently and use people data to address challenges, define priorities and drive fiscal impact.

Our research tells us that organizations are just at the beginning of what they’ll be able to do with people analytics. C-suite, CHROs, and people analytics leaders need to work together to unlock the power of people analytics today to be ready for the capabilities of the future.

A new report from RedThread Research, Unlocking the Hidden C-Suite Power: People Analytics, offers insights and analyses into the role of people analytics in helping the C-suite with a wide array of challenges, from understanding retention drivers to quantifying the impact of incentive schemes. During the pandemic, the C-suite and senior leaders relied heavily on people analytics to track employee sentiment and to figure out how to adapt to new business priorities. This report notes that a growing opportunity exists for the C-suite, Chief Human Resources Officers (CHROs), and people analytics leaders to use people data as a superpower, and delves into what they need to do to address challenges and priorities.

Key findings from the report reveal that:

  • Insights from people analytics can drive millions of dollars of impact for individual companies.
  • C-suite, Chief Human Resources Officers (CHROs), and people analytics leaders must partner differently to enable those significant impacts.
  • C-suite leaders need to often and clearly communicate business strategy, invite people analytics in, seek answers, model using people data, and expect, enable, and fund integrated data.
  • CHROs need to use data to underpin HR efforts, connect people analytics to large-scale, strategic challenges, be the greatest salesperson for people analytics, and get themselves out of the way.
  • People analytics leaders need to reframe and contextualize complex business questions, create digestible business insights that can drive decisions, help leaders see around corners, and enable rapid truth-telling.

“We know that the Boards' and CEOs' agendas have never been more crowded with talent-related topics but there’s a significant under-investment by orgs in people analytics. We wanted to find out what types of challenges people analytics can help the C-suite leaders solve, how people analytics leaders can partner with C-suite leaders to solve those challenges, and what roles tech and organizational culture play in enabling that partnership to drive big fiscal impact,” said Stacia Garr, Co-founder and Principal Analyst of RedThread Research, and co-author of the report. “Our research tells us that organizations are just at the beginning of what they’ll be able to do with people analytics. C-suite, CHROs, and people analytics leaders need to work together to unlock the power of people analytics today to be ready for the capabilities of the future.”

The report also includes several real-world examples of how companies have used people analytics to address business challenges.

To view the full report, please visit https://bit.ly/3qlseck.

About the Report
Unlocking the Hidden C-Suite Power: People Analytics is an original study by RedThread Research; it included:

  • An exhaustive literature review of over 50 articles
  • A roundtable attended by 27 C-Suite, people analytics leaders and CHROs
  • Video conference-based interviews with 25 C-suite, HR, and people analytics leaders

All information for this study was collected from June to October 2021.

About RedThread Research
RedThread is a human capital research and advisory rm that listens to you and understands your business. We’re experts in talent management, learning, and diversity and inclusion and the technologies that support them. But more importantly, we’re truth-seekers and storytellers in a world where there’s a dearth of the former and much of the latter is sort of bunk. We use technology and collaboration to make connections between people, data, and ideas— even among seemingly unrelated concepts. We focus on providing high-quality, unbiased foresights that you can implement for a stronger business. For more information, please visit us at http://www.redthreadresearch.com. Follow RedThread on Twitter at @RedThreadRe and on Linkedin at @redthread-research.

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