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RedThread Research: People Analytics Tech Landscape and COVID-19

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Summary of RedThread's people analytics study and the COVID-19 support vendors are providing to customers.

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RedThread Research: People Analytics Tech Landscape and COVID-19

  1. 1. © 2020 RedThread Research. All Rights Reserved. People Analytics Tech Landscape: The Market, Vendors, & COVID-19 Stacia Sherman Garr, Co-founder & Principal Analyst Priyanka Mehrotra, Research Lead RedThread Research www.redthreadresearch.com @StaciaGarr, @RedThreadRe
  2. 2. Thank you! © 2020 RedThread Research. All Rights Reserved https://redthreadresearch.com/ 2019/12/30/pat-the-vendors/ https://redthreadresearch.com/ 2019/12/18/pat-the-market/ @RedThreadRe
  3. 3. © 2020 RedThread Research. All Rights Reserved Our research journey Vendor & practitioner briefings, interviews, and Vendor survey Launched study PAFOW SF Jan/Feb 2019 March/April 2019 May/June/July 2019 Initial findings PAFOW London Vendor briefings, and customer interviews April 2019 Preview of results PAFOW Philly Sept 2019 Dec ‘19/Jan ’20 Final publication of report, tool & infographic; PAFOW SF People Analytics & COVID-19 PAFOW Europe April 2020 @RedThreadRe
  4. 4. © 2020 RedThread Research. All Rights Reserved Employee engagement / productivity top concerns during COVID-19 pandemic N = 33; Source: Gartner, March 2020 @RedThreadRe 76% 18% 12% 9% 6% 6% 6% 3% Employee engagement / productivity Dissatisfaction w/temporary work arrangements Employee absenteeism Managers / employees don't feel informed Dissatisfaction with medical benefits Employee discrimination Dissatisfaction with health / wellness measures Other Concerns Heard Most Frequently From Employees by HR Leaders in APAC
  5. 5. © 2020 RedThread Research. All Rights Reserved People analytics currently limited to reporting and descriptive analytics Source: HR Analytics ThinkTank Research, March 2020 N = 38 @RedThreadRe 18% 21% 29% 61% 82% PRESCRIPTIVE - Telling leaders what the data indicates they should do PREDICTIVE - Forecasting what could happen in the future DIAGNOSTIC - Helping leaders understand how COVID-19 is impacting the business DESCRIPTIVE - Describing how COVID-19 is impacting the business REPORTING - Providing lists of employee ("line by line") data to decision makers What role is people analytics playing in how your organization is managing the COVID-19 situation?
  6. 6. © 2020 RedThread Research. All Rights Reserved Only about 20% of people analytics teams have tools that fully meet their needs right now 3% 71% 21% Not Fit for Purpose Partially Fit for Purpose Entirely Fit for Purpose Are your tools effective enough to help you track, measure, and answer COVID19 questions? Source: HR Analytics ThinkTank Research, March 2020 N = 38 @RedThreadRe
  7. 7. © 2020 RedThread Research. All Rights Reserved “Workforce Analyst” hiring is down 1260 1023 1027 980 934 1038 1149 1051 1034 1127 933 944 700 800 900 1000 1100 1200 1300 1400 Oct Nov Dec Jan Feb March Job postings for "Workforce Analyst" Previous 6 months Current 6 months % Difference: -9% Source: EMSI, 2020. @RedThreadRe
  8. 8. © 2020 RedThread Research. All Rights Reserved People analytics teams tend to hire a few people per year 8% 13% 63% 17% Over 10 employees 5-10 employees 1-4 employees None n= 88 Source: RedThread Research, 2020. @RedThreadRe
  9. 9. © 2020 RedThread Research. All Rights Reserved.© 2020 RedThread Research. All Rights Reserved @RedThreadRe
  10. 10. © 2020 RedThread Research. All Rights Reserved How do I win? © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  11. 11. © 2020 RedThread Research. All Rights Reserved.© 2020 RedThread Research. All Rights Reserved @RedThreadRe
  12. 12. © 2020 RedThread Research. All Rights Reserved. You need to… • Understand your landscape • Level up • Avoid pitfalls © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  13. 13. © 2020 RedThread Research. All Rights Reserved. Understand your landscape © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  14. 14. © 2020 RedThread Research. All Rights Reserved Vendor categories Employee Engagement/Experience Employee Coaching D&I/Pay Equity Analysis Labor Market Analysis HCM Analysis Learning Analysis Workforce Planning Analysis Multi-source Analysis Text Analysis Organizational Network Analysis @RedThreadRe
  15. 15. © 2020 RedThread Research. All Rights Reserved Vendor solution matrix Frequent analysis Continuous analysis Data Aggregator Data Creator @RedThreadRe
  16. 16. ContinuousAnalysis Workforce Planning Learning Analysis Labor Market Analysis Text Analysis D&I/Pay Equity Analysis Organizational Network Analysis Organizational Network Analysis Multi-Source Analysis Platforms Employee Engagement/ Experience HCM/Integrated Talent Management Analysis Employee Coaching Organizational Network Analysis Learning Analysis Employee Engagement/ Experience Accumulated Analytics Guiding Analytics Snapshot Analytics Targeted Analytics FrequentAnalysis Data Aggregator Data Creator @RedThreadRe
  17. 17. © 2020 RedThread Research. All Rights Reserved Data Aggregator Data Creator FrequentAnalysis ContinuousAnalysis R Accumulated Analytics Guiding Analytics Snapshot Analytics Targeted Analytics R TalentNeuron Workforce planning Workforce planning @RedThreadRe
  18. 18. @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  19. 19. @RedThreadRe
  20. 20. @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  21. 21. https://redthreadresearch.com/2020/01/30/pat-tool/ @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  22. 22. © 2020 RedThread Research. All Rights Reserved Employee experience/engagement is on top of the mind @RedThreadRe
  23. 23. © 2020 RedThread Research. All Rights Reserved Vendor categories most actively responding Employee Engagement/Experience Employee Coaching Labor Market Analysis Learning Analytics Workforce Planning Analysis Multi-source Analysis Text Analysis Organizational Network Analysis @RedThreadRe
  24. 24. Employee Coaching: Understanding what’s changed since COVID-19 Themes: Behaviors, work life balance, empathy Vendor: Cultivate @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  25. 25. © 2020 RedThread Research. All Rights Reserved Engagement/Experience: Prioritizing during the crisis Vendors: Limeade, Glint, Medallia, Betterworks Engage, Culture Amp, Humu, Perceptyx, SMD – PressGaney Themes: Communications, transparency, well-being Themes: Collaboration, productivity Vendors: Qualtrics, Worklytics @RedThreadRe
  26. 26. © 2020 RedThread Research. All Rights Reserved Multi-source Analysis Platforms: Understanding the impacts of COVID 19 Themes: Data integration from new sources containing COVID-19 data, data management Themes: ‘What-if’ analysis Vendors: CruncHR, OneModel, PeopleInsight, Visier Vendors: Visier, Vemoworkforce @RedThreadRe
  27. 27. © 2020 RedThread Research. All Rights Reserved Organizational Network Analysis: Identifying and leveraging connections during the crisis Themes: Organizational health Themes: Connectivity, and isolation Vendors: Humanyze, OrgAnalytix Vendors: Innovisor, Polinode @RedThreadRe
  28. 28. Learning Analytics: Providing resources to learn during the crisis Themes: Learning while WFH CultivateVendor: Mlevel @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  29. 29. Workforce Planning: Developing a plan for the new normal Themes: Labor market data Vendor: EMSI @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  30. 30. Text Analysis: Understanding what employees need during COVID 19 Themes: Multi-language semantic text understanding Vendors: OrganizationView @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  31. 31. © 2020 RedThread Research. All Rights Reserved. What else should vendors do? © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  32. 32. “Differentiators” • Address barriers • Enable new insight • Make it human © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  33. 33. Addressing barriers Integrating different/disparate data sources simply Providing leadership on privacy and ethics © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  34. 34. Enabling new insight Passive data collection Sophisticated language analysis Insights to employees & managers © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  35. 35. Making it human Community/collective intelligence Storytelling © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  36. 36. © 2020 RedThread Research. All Rights Reserved. Avoid pitfalls © 2020 RedThread Research. All Rights Reserved @RedThreadRe
  37. 37. 81% of HR people analytics leaders say their people analytics projects are jeopardized by ethical or privacy concerns Source: Insight222 People Data Ethics & Privacy Research, November 2017; Edelman Trust Barometer 2020 The risks Copyright RedThread Research, 2019. Ethics 3x more likely to drive trust for a company @RedThreadRe © 2020 RedThread Research. All Rights Reserved
  38. 38. © 2020 RedThread Research. All Rights Reserved Where do vendors stand? 55%say their role is limited 50%or fewer allow employees to access insights on themselves Source: RedThread Research, People Analytics Technology Landscape: The Market, 2019 @RedThreadRe
  39. 39. © 2020 RedThread Research. All Rights Reserved Looking forward • Technology for development • Employee ownership of data • More passive data • Data ethics and privacy @RedThreadRe
  40. 40. © 2020 RedThread Research. All Rights Reserved Post-COVID • Trust and transparency • Well-being • Deconstruct work – looking beyond titles • Essential worker @RedThreadRe
  41. 41. © 2020 RedThread Research. All Rights Reserved Thank you and get in touch! Stacia Garr Co-founder & Principal Analyst RedThread Research stacia@redthreadresearch.com https://www.linkedin.com/in/staciashermangarr/ Priyanka Mehrotra Research Lead RedThread Research Priyanka@redthreadresearch.com https://www.linkedin.com/in/priyankamh https://redthreadresearch.com/ 2019/12/30/pat-the-vendors/ https://redthreadresearch.com/2 019/12/18/pat-the-market/ https://redthreadresearch.com/2020/01/30/pat-tool/ @RedThreadRe
  42. 42. © 2020 RedThread Research. All Rights Reserved Copyright RedThread Research, 2019.

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