Four for Friday: Getting More Strategic (and Predictive) With HR Data
Many HR professionals leverage spreadsheets for manipulating and analyzing data. And over time, they’ve come to be more proficient with these ad-hoc analyses, but the truth is all of the manual proficiency in the world is no match technology. Automation, coupled with next-generation analytics is changing the game for talent acquisition and HR. Companies that have taken the leap with analytics are on the path toward using their data more predictively, while those that haven’t are at risk of being left behind.
Predictive analytics, HR data analysis, and more are discussed throughout this week’s Four for Friday.
1. How HR can harness the power of predictive analytics (Inside HR)
According to Greta Roberts, CEO of Talent Analytics Corp., the ability to combine business outcome data with HR data when making predictions through analytics is one of the most important trends for HR leaders. This article discusses why HR leaders should be embracing analytics and moving toward more proactive decision-making rather than putting off the investment. She said “These kinds of projects are the kind that can make the career of an HR leader.”
2. Is Your Talent Analytics Software Really Just an Excel Spreadsheet? (Recruiting Blogs)
Daniel Fogel brought up an interesting point on Recruiting Blogs. He said it’s been more than two years since Bersin by Deloitte shared research that said only 6% of HR departments believed they were “excellent” in analytics. 60% felt they were “poor.” Since that time, a lot’s changed in terms of analytics technology accessibility and its power, but still we haven’t seen widespread adoption in HR. So, what’s the holdup? As Fogel explained, “For some it is not knowing how or where to start. Some don’t have the budget. A few are just afraid of change and think the old ways are best. If you’ve been holding off on dipping your toe in the analytics pool, now is the time to take the plunge.”
“As recruiting technologies and economic and workforce changes continue to develop and morph, so must the talent acquisition industries’ approach to candidate experience.” Wilson HCG’s Lauren Kowal said that. And she brings up a good point about the way we measure and optimize our performance. In the recruiting field, it’s clear that the strategies and technologies we use to attract and identify talent are not evergreen. They change and we have to be as dynamic as those changes or face the (often) heavy cost of inaction.
4. Big Data: The foundation for strategic Human Resources (Thomsons Online Benefits)
One of the less often talked about benefits of analytics and data analysis tools is the simple fact that information is stored in a structured format and easily consumable. We bring this up because, as explained by Matthew Jackson, “Measuring and demonstrating that ROI is proving to be one of HR’s biggest problems. According to the latest research by KPMG, 49% of global executives believe that HR leaders are currently unable to demonstrate tangible correlations between HR initiatives and business outcomes.”
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