It’s a complex and challenging time in HR. The need for high performing talent is the greatest it’s ever been in the history of business. It’s for that reason leveraging data in human resources is paramount to success. In this article series, HR Exchange Network editor Mason Stevenson look at how to drive growth through people analytics starting with talent acquisition and employee engagement.
It’s a complex and challenging time in HR. The need for high performing talent is the greatest it’s ever been in the history of business. It’s for that reason leveraging data in human resources is paramount to success. Growth is linked to the data function and its existence across all dimensions of HR from talent acquisition to retention.
People Analytics Stats
According to Deloitte’s 2018 Human Capital Trends report, 85% of companies see people analytics as a high priority, but only 42% believe they are either ‘very ready’ or ‘ready’ to meet expectations.
Why is data so important?
“Organizations today realize that good HR practices are no longer enough as we need a more data driven approach which can lead to evidence based HR, thus reducing human bias and subjectivity. When HR is able to make impact through analytics, they take on a more strategic role and are able to help their organizations gain a competitive advantage through clever use of data,” Jaclyn Lee said. She’s the Chief Human Resources Officer for the Singapore University of Technology and Design.
“Analytics,” she continued, “also have a huge potential to increase return on investment when the numbers are tied to business outcomes and when predictions point to a range of possibilities that companies can plan for.”
Read the full article here: People Analytics and Driving Growth