The booming era of big data and analytics is pushing the organization to take the leap to data-driven decision making. The advent of disruptive technology have created quite a stir in the marketplace; the veracity is that most Human Resources organisations fall well short of grasping these capabilities.
The groundwork needed to understand the organisation’s system and data, develop credibility with stakeholders and resolve data quality issues – all take time. Then there are challenges of developing or finding the right skill sets, creating practical tools for line managers and integrating data.
Let’s take a look at few essentials help you to recognise the maturity of organisation’s analytics function. Including the features required to lead the HR analytics in future.
What factors identify maturity of an organisation’s analytics function?
According to the Deloitte Research report, a few factors are shortlisted to define the characteristics of mature HR analytics team.
1. Effective Dashboard
The HR technology today is far more sophisticated than it was five years back. Easy API integrations, user-friendly interface and customisation dashboard, enable stakeholders to have quick access to the information they demand. It also empowers analytics staff to spend more time providing recommendations and insights on business challenges. Now, organisations learned how to develop self-service customisation dashboards for HR leaders and business.
2. Data Quality
Accurate data is critical to gaining credibility with stakeholders. The HR analytics function will experience a severe setback if they do not believe the data or find errors. Therefore, mature analytics team invested time in ensuring their data is up to date and of high quality.
3. Ability to tell the story
One of the major drawbacks of analytics team is their incompetence to “tell the story” behind data. A skilled HR analytics team will always go beyond number crunching so the business leaders can quickly grasp the implications. Therefore, it is imperative for these teams to have personnel with strong HR, business, and consulting skills.
Advancing your HR Analytics Initiatives
Bringing state of the art technology onboard is worthless if it is not accompanied by right skill sets and meaningful interpretation.
In a rush to deliver big data, business leaders should also contemplate how they can provide better data to their managers to enable faster synthesis of key insights and a higher level of utilisation. Therefore, your HR analytics must be:
The progressive move is essential to organisations when it comes to HR and talent analytics initiatives. Adopting the right cloud-based HR technology is capable of delivering everything you need to shape future outcomes, 360 degrees business insights and accelerate business agility. Key features include:
A. In-Context Analytics
Instant insight access to key challenges and strategically influence workforce management initiatives.
B. Talent Management Analytics
Learn profound insights on employee potential, performance, alignment to skill requirements and succession.
C. Recruiting Analytics
Comprehend which recruiting geographies and sources deliver top talent and who stay longer with the organization. It is an excellent way to control the attrition rate.
D. Predictive and Advanced Analytics
A good story telling is only possible when HR analytics system is competent enough to deliver comparative, historical and predictive views. It further enables to provide snapshots in data enrichment, time and event interpretation.
It is critical for organisations to choose their HR tech intelligently that can deliver an integrated set of tools for a complete continuum of HR requirements including, talent management, big data discovery, global workforce planning, learning management and more.
Also, today organisations are in a position to opt from cloud-based Human Capital Management Solutions, widely popular hybrid approach or on-premises solutions.
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