Whereas marketing and sales as well as financial departments have been using advanced analytics for quite a while, it seems that HR is still in one of the early maturity phases of analytics usage. This is a view which seemed to be shared by CEOs. In a recent study CEOs gave their HR department a 5.9 (out of 10) for their analytical skills. (See CEO niet overtuigd van analytische skills HR )
Whereas HR controls a lot of data (and needs to keep it up to date) it does not seem to be able to use this data to provide strategic advise to the board of directors. HR can only deliver truly added value by providing data-driven insights regarding people that are both compelling to business leaders and actionable by HR. This is a view which is also quite nicely outlined by consultancy firm Inostix in their HR Analytics Value Pyramid (See The HR Analytics Value Pyramid (Part 3) ). To make sure that HR team stays current and viable, they will need to adopt a whole need set of skills of which analytics is just one (See The reskilled HR team – transform HR professionals into skilled business consultants and the capability gap across the 2015 Human Capital Trends)
In a number of upcoming posts I will delve a little deeper into this topic and will show some practical examples of how you can realize some quick wins without a huge upfront investment.
Related links:
- What we learned about HR Analytics in 2014
- 17 differences between HR Metrics and Predictive HR Analytics
- Datafication of human capital
- Top 72 HR Analytics Influencers Part 3
- Business need to make better use of analytics to predict what they need than just recruiting
- Sink or swim: a tidal wave of technology is shaping HR
- How important is data analytics to the future of HR?
- Six takeaways from the HR Analytics Innovation Summit
- Is HR ready for the big data and analytics revolution?
- Making the business case for predictive talent analytics
- Leveraging predictive analytics to avoid a major point of hiring failure
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