{"id":274,"date":"2020-04-13T18:42:20","date_gmt":"2020-04-13T22:42:20","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-peopleanalytics\/submission\/peakon-shows-the-power-of-people-analytics-beyond-the-level-of-the-firm\/"},"modified":"2020-04-13T18:42:20","modified_gmt":"2020-04-13T22:42:20","slug":"peakon-shows-the-power-of-people-analytics-beyond-the-level-of-the-firm","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-peopleanalytics\/submission\/peakon-shows-the-power-of-people-analytics-beyond-the-level-of-the-firm\/","title":{"rendered":"Peakon shows the power of people analytics beyond the level of the firm"},"content":{"rendered":"<p><strong>TL;DR:<\/strong> Peakon&#8217;s analysis is showing the true power of people analytics. Rather than analyzing teams or firms in isolation, its power is to analyze and compare data across teams, firms and even industries. Rather than using data to describe the situation, its power is to provide tangible recommendations and next steps. Rather than using people analytics in a one-off project driven by consultants, its power is to become an integral part of company processes and track progress and results over time.<\/p>\n<p>Peakon, founded in Denmark in 2014, is a platform for measuring and improving employee engagement. At its core, Peakon is a platform that gathers feedback from employees across organizations through surveys (which are delivered via email, SMS or kiosk). The value-added services are all built on this data: (1) building an understanding of the company\u2019s culture and engagement, (2) showing real-time insights through management dashboards, (3) providing descriptive, prescriptive and predictive insights that are actionable, (4) enabling bite-sized micro-course trainings, and (5) tracking engagement over time.<\/p>\n<p>Peakon describes the so-called <strong>\u201c9-month warning\u201d<\/strong>, i.e. according to their data analysis <strong>\u201cengagement\u201d and \u201cloyalty\u201d scores in employee surveys start to fall about 9 months\u2019 before an employee leaves<\/strong> (see image below). Employee engagement is measured with Net Promoter Score (NPS) and calculated based on employee responses to a strategic question: \u201cHow likely is it you would recommend [company name] as a place to work?\u201d. When engagement scores start to drop, employees are at risk of leaving. At the same time, an employee\u2019s loyalty\u2014a natural outcome of engagement, and a measure of intent to stay with a company\u2014starts to dip as well.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-263\" src=\"http:\/\/d3.harvard.edu\/platform-peopleanalytics\/wp-content\/uploads\/sites\/30\/2020\/04\/ArticleLDP.png\" alt=\"\" width=\"560\" height=\"600\" srcset=\"https:\/\/d3.harvard.edu\/platform-peopleanalytics\/wp-content\/uploads\/sites\/30\/2020\/04\/ArticleLDP.png 560w, https:\/\/d3.harvard.edu\/platform-peopleanalytics\/wp-content\/uploads\/sites\/30\/2020\/04\/ArticleLDP-280x300.png 280w\" sizes=\"auto, (max-width: 560px) 100vw, 560px\" \/><\/p>\n<p>Peakon is able to go one level deeper and <strong>unpacks what truly makes employees engaged<\/strong>. They share four very tangible pieces of data analysis with their conclusions:<\/p>\n<ul>\n<li>People leave unchallenging work, not a challenging workload<\/li>\n<li>People leave when they can\u2019t discuss pay, not because they feel they\u2019re under-rewarded<\/li>\n<li>People leave managers, not colleagues, culture or the company<\/li>\n<li>People leave when they don\u2019t see a path for personal development<\/li>\n<\/ul>\n<p>While some of these conclusions definitely sound familiar and are not necessarily new, it\u2019s incredibly interesting that data analysis on large amounts of data proves them right and now makes them actionable. Even better, Peakon \u2013 to me \u2013 is an incredible example of a company that shows the true power of what people analytics can do:<\/p>\n<p>First, to write this article Peakon brought together millions of employee survey responses and employee comments across 125 countries. <strong>By analyzing data across firms, they were able to develop learnings that would have never been possible to develop when focusing on data within the boundaries of the firm.<\/strong> Peakon as a third party platform is able to provide an unprecedented wealth of quantitative data for firms to gain new insights and drive better outcomes.<\/p>\n<p>Second, Peakon goes beyond merely showing results on management dashboards, which is unfortunately still the current understanding of \u201cpeople analytics\u201d in many firms. <strong>By analyzing survey responses in combination with outcomes (i.e. did this employee leave or not?), they were able to spot multiple warning signs for attrition risk and translate this into tangible recommendations and next steps.<\/strong> Based on millions of other responses, Peakon is now able to predict whether some employees are more likely to leave the company. Moreover, senior managers are able to identify some other root causes that can be rectified before it\u2019s too late.<\/p>\n<p>Third, many firms still see people analytics as one of the many tools in the consultant toolkit, something to be used when firms are going through rough times and attrition risk is at its peak. <strong>By providing a platform that is easy-to-use as a tool for employees and managers alike, Peakon is able to firmly nestle and seamlessly integrate in the firms\u2019 internal processes.<\/strong> Only with a discipline to strive for high adoption and quality, employee engagement surveys can provide real value. Once there, the options to realize that value seem endless.<\/p>\n<p>In summary, Peakon is exposing firms to the true power of people analytics and unlocking a lot of value in that process. This is confirmed by the many 5-star reviews online (available <a href=\"https:\/\/www.getapp.com\/hr-employee-management-software\/a\/peakon\/reviews\/\">here<\/a>). Are they painting a too rosy picture or will Peakon soon be integrated in every employee\u2019s weekly habits?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By analyzing millions of employee survey responses, Peakon shows that employee engagement starts to drop about 9 months\u2019 before an employee leaves. Peakon&#8217;s analysis shows the true power of people analytics: being integrated in internal processes, using data beyond the level of the firm, and resulting in actionable insights. Ad astra!<\/p>\n","protected":false},"author":11691,"featured_media":275,"comment_status":"open","ping_status":"closed","template":"","categories":[472,431],"class_list":["post-274","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry","category-employee-engagement","category-people-analytics","hck-taxonomy-organization-peakon","hck-taxonomy-industry-information-technology","hck-taxonomy-country-denmark"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-peopleanalytics\/assignment\/lpa-blog-assignment\/","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Peakon shows the power of people analytics beyond the level of the firm - Leading with People Analytics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/d3.harvard.edu\/platform-peopleanalytics\/submission\/peakon-shows-the-power-of-people-analytics-beyond-the-level-of-the-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peakon shows the power of people analytics beyond the level of the firm - Leading with People Analytics\" \/>\n<meta property=\"og:description\" content=\"By analyzing millions of employee survey responses, Peakon shows that employee engagement starts to drop about 9 months\u2019 before an employee leaves. 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