Eastward Partners' recently published Human Resources Market Report notes the evolution of the "People Analytics" function driven by insufficient staffing issues in 2022 and the close link between employee performance and profitability.
Job opportunities, new roles and job title changes in the People Analytics space are expected to surge in 2023: 23% of the People Analytics talent pool changed jobs in 2022 compared to 15% of traditional HR professionals finding new opportunities, showing a high demand for talent insights and HR analytics.
The report comments on a shift towards employee retention and wellness being key to running a profitable business, promoting demand for predictive analytics that can provide insight into when staff is most likely to seek new opportunities.
Joe Carbone, Founder of Eastward Partners, said:
"Our clients have a strong appetite for predictive analytics and AI to understand the thoughts, feelings and what matters to their employees. Executives can then use a solid grounding based on insight to inform decisions and take proactive action faster."
The report also shares the compensation a Head of People Analytics receives in today's market after a national median base salary increase of 3.28% YoY:
Median Base Salary: $184,800
Median Total Compensation: $203,631
The report goes on to cover the firms with the highest growth in 2022, the firms with the highest attrition, geographic hot spots for talent, gender diversity across the industry, and an outlook for 2023.
Eastward Partners Inc. is an Executive Search and Human Capital Consultancy. Eastward operate within Middle Market Private Equity functions, Brand and Digital Agencies, Financial Advisory Consultancies and the Human Resources market.
Eastward sources its data from millions of data points publicly available online, and through proprietary software. Data is synthesized into groups by title and skills to draw insights and conclusions from specific talent pools to take away trends such as supply and demand, emerging skills, hub locations for a specific group of talent, gender diversity etc over a 12-month period.
Eastward's data & analytics capabilities are also strengthened by partnerships: They have recently partnered with one of the nation's largest providers of payroll. This firm provides payroll HR tech solutions to over 20% of all organizations in the United States, allowing Eastward access to anonymized compensation figures for almost 40 million employed Americans. Through this platform, Eastward are able to analyze trends in compensation for specific job titles broken down by location.
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