People Analytics is more than classic HR reporting, descriptive numerical sequences and dashboards. It does not merely describe the past but provides a way of seeing what may happen in the future and why.
People Analytics is based on predictive analytics, a method for predicting the probable future. The central element of predictive analytics is the predictor – an attribute, measurable in the present, which correlates to a significant degree with another attribute or event occurring in the future. For example, companies have long been seeking predictors for future employee success by evaluating the results of performance tests and assessment centers.
Our team members are experts in predictive analytics. Not only do they employ these methods in practice on a daily basis, they also teach them at university level.
We provide no off-the-shelf solutions, no costly and complicated software, no algorithms hidden inside a black box. Instead, we provide answers to your questions. And if you can’t quite formulate your questions yet, we help you find those questions that will advance your business.
We provide clear and concise reports, conclusive interpretations and concrete proposals for taking action. And we are happy to explain the underlying statistical methods in an easy-to-understand fashion.
We are available to discuss and help you shape your ideas for your People Analytics projects. We are happy to relieve you from the time and energy consuming details of project work so you can concentrate on your core tasks.
prestada accompanies you through all stages of a People Analytics project:
You can count on us in every stage of the project – if you so desire. It’s up to you to what extent you wish to use us and our know-how.
You can book us as a full-service provider to manage your entire project externally, or you can book us for individual modules only. Simply talk to us about your ideas!
We help you communicate effectively with top management, business units and works council in order to overcome resistances and get all stakeholders on board. We help you find and communicate the most convincing arguments for each target group and set up pilot projects to achieve quick wins.
In order to carry out a People Analytics project, you have to find out something so important to internal customers that they are willing to pay for it and get involved. Works councils are often surprised to find out about the possibilities that People Analytics offers them to further their interests. But actually this should not be surprising given that benefits for employees are closely tied to the economic gain for the company as a whole.
On the other hand, top management and business units usually react with surprise when they are shown in concrete numbers the financial benefits to be gained from People Analytics projects, which may easily add up to millions of Euros. For example, Credit Suisse found out that reducing unwanted attrition by just 1% may lead to cost savings between 75 and 100 million Euros per year.
prestada identifies the HR specific savings and earnings potentials for your organization that may be leveraged to maximize economic benefit and to make a substantial case for People Analytics projects.
Ultimately, algorithms are nothing but numerical operations. Their results can only be as good as the data that is fed into them. And no algorithm can explain or interpret its own results. Only human beings can do that – human beings who know the data basis, understand the algorithm and can interpret its results accordingly. In other words: experts.
Not with us. People have a natural dislike of algorithms they don’t understand and whose results they cannot control. Therefore, it is essential to have data analyses carried out by experts who can explain the underlying algorithms and interpret their results correctly. This is something no software tool by itself can provide.
We inform you in depth about the mathematical models we employ and their explanatory value as well as about the scope and limits of interpretation of the data. And we help you draw your own conclusions from our evaluations and derive decisions for your company.
Even the best algorithm cannot deliver meaningful results unless it is fed with the right data. Companies are constantly collecting and storing huge amounts of data, but not all of them are relevant or useful when it comes to answering a particular question by means of data analysis. Different sets of data may be relevant to different questions, and some questions can only be answered by collecting new, additional data.
We help you find the right variables for any given application of People Analytics – those that provide the highest explanatory and prognostic value for the question at hand.
And we design the data gathering and evaluation process in a way that avoids common errors from the start, such as:
the sample is not representative
apples are being compared to pears
the sample is too small
measured values are not stable over time
correlation does not equal causation
systematic bias in the design of questionnaires, the interview setup or the behavior of interviewers
One of the biggest obstacles for any People Analytics project is the concern about data privacy and security. That is why we always secure the approval of employee representatives and data security officers and cooperate closely with them for the entire duration of the project. The works council and data security officers are consulted as early as possible during the planning stages of the project.
For every People Analytics project, we devise a specific data privacy and security policy regulating the collection and use of data in a legally binding and transparent way. We only evaluate anonymized or aggregated data sets, thereby excluding the possibility of extracting information about individuals. At prestada we are committed to the highest scientific, legal and ethical standards.