People analytics and human capital reporting are developing topics in the HR profession and represent an important step towards using data to make evidence-based decisions – a crucial concept if the profession is to champion better work and working lives. As the capacity and capability of organisations grows there are new and exciting opportunities for HR professionals to use data to inform their decisions. People data is both a useful tool for influencing the business, and also represents an opportunity to demonstrate the impact that HR and the people profession has on the business; whether through increasing productivity and performance, or by measuring employee wellbeing and engagement. Data and analytics are powerful ways by which the people profession can drive improvements throughout organisations.
There are significant risks and opportunities that people professionals face when building their data capabilities as the people analytics and human capital reporting disciplines grow and become more influential throughout businesses. Given the growth in both the volume and veracity of data, the frequency with which data can be used to explore people-related concepts is increasing, but this also means there are new and emerging needs within the capability of the profession to collect, manage, analyse and report data about the workforce. New skills around data science, econometrics, and information technology are needed in analytics functions, if the true value of people data is to be recognised.
The CIPD recognises the value that analytical evidence has to the future people profession. By developing research and insights in to data and analytics practice, we will look to inform how this exciting discipline evolves and becomes a powerful tool for tomorrow’s people professional.