Four For Friday: Are You Really Ready For HR Analytics?
A common mistake that occurs when adopting a data-driven HR strategy is not asking yourself and your team this important question: Are you really ready for HR analytics? While most experts agree that not adopting an HR analytics strategy presents missed opportunities, your team needs to be fully prepared when the time comes. Diving in headfirst when not fully ready will almost certainly lead to a failed HR analytics program. That is the theme of this week’s Four For Friday.
“Unquestionably, Talent Analytics is all the rage these days,” says Joe Abusamra, VP of Product Marketing at NGA.NET. In his post on the TLNT blog, he provides the following 5 talent management challenges and how talent analytics can help improve them:
- High Cost of Recruiting
- High Cost of Employee Retention
- Better Employee Engagement
- An Improved Competitive Edge for the Organization
- Immediate Real-Time Analysis
Learn more specifics about how analytics can help solve each of these by reading Joe’s post.
“It is inevitable that analytics will become part of corporate HR strategy, so as an HR community the best move is to embrace it, but to do so with a very critical eye,” says Michael C. Jacobson, legal editor for XpertHR. Michael goes on to say that some parts of HR analytics are very useful, but that the bigger decisions (“like figuring out which employees plan to stay with the company for their careers”) should be left to the human brain. Check out Michael’s post on the SHRM blog to learn more.
HR Leaders Adapting Quickly to Workforce Analytics (Hunt Scanlon Media)
A recent report, Randstad Sourceright’s “2016 Talent Trends Report,” was developed with the feedback of nearly 400 HR, recruiting, and business leaders. “The report found that the use of talent and workforce analytics continues to increase, with 73% of respondents using this data to create more efficient workforce planning, 63% for more accurate mapping and addressing of skills gaps and 56% for identifying high-potential employees for development.” Learn more in this post on the Hunt Scanlon Media blog.
“It has long been said that people analytics represents a huge opportunity for HR to leave its antediluvian cost center obsessed past behind and re-emerge as a revenue and profit generating engine of the business,” says David Green. David, a respected HR analytics thought leader, provides a sneak preview for Tucana’s People Analytics conference that takes place this April. He also provides his own thoughts and expectations for analytics in HR. Check out David’s post on the Tucana HR blog to learn more about the conference.
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