Four For Friday: Data-Driven HR Comes Full Circle
A common discussion point in HR early in 2016 is the importance of HR analytics to help achieve business goals and success. Data-Driven HR should no longer be viewed as unnecessary or with fear. Instead, leaders should look at it with optimism, as starting a successful HR analytics program can be a game-changer for organizations.
It’s been a long journey so far (and there is still a lot left to do), but data-driven HR is starting to come full circle. That is the topic of this week’s Four For Friday.
The Bold New World Of Talent: Predictions For 2016 (Josh Bersin)
“2016 will bring dramatic changes in the world of Human Resources, Learning, Talent Management, and HR technology,” says Josh Bersin, Principal and Founder of Bersin by Deloitte. This article from Josh highlights findings from his latest report Bersin by Deloitte Predictions for 2016. He provides the following 10 predictions in this article:
- Digital HR arrives, patterned after the digital world.
- Replacement of dated HR technology will accelerate.
- Talent management (and the platforms we use to deliver it) will reinvent itself.
- Performance management reinvention will further catch fire around the world.
- Engagement, culture, and feedback will become CEO-level topics.
- Global leadership development will change.
- Corporate learning will go through a revolution.
- Diversity, inclusion, and gender inequality have reached board level priority.
- Analytics and data-driven decision making will go mainstream.
- A reinvention of HR will take place, as a new breed of HR professional enters the stage.
“Effectively working with data and technology is a skill HR professionals need to have to bring significant value as internal advisors. The practitioners who focus seriously on developing this skill will be much more relevant than their peers going forward,” says JoAnn Corley, Founder and CEO of The Human Sphere. She says using data can reveal insights that most likely could not be reached any other way. She also provides a few tips on how to get started with HR data analytics.
This post on the Lockton HR Tech blog asks an important question about data analytics in HR. “If data analytics is so amazing and game changing for HR, why hasn’t the industry fully embraced it, and why aren’t companies aggressively using it?” They go on to provide some answers for this question, as well as explaining the opportunities available to HR teams when it comes to analytics. Check out their blog to learn more.
Fix Tech Hiring: Make It Data-Driven And People-Led (Talent Culture)
Kevin Rooney, CEO of Expert Interview, says that tech hiring is broken, and the data proves it. He provides three highlights that show this:
- Bad hires are extremely expensive.A study by the Society of Human Resource Management (SHRM) estimates the cost of a bad hire can be as high as 5x the salary. Zappos CEO Tony Hsieh has estimated bad hires cost his organization over $100M.
- Bad hires happen far too frequently. According to a study by the Brandon Hall Group, 95% of companies admit to recruiting the wrong people each year.
- Great hires are game changers. According to research by Linda Pittengerfrom the Embry-Riddle Aeronautical University, high performing technology personnel are 10x more effective than average performers.
Learn more in Kevin’s post from the Talent Culture blog.
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