More than ever before, business leaders expect HR professionals to share insights based on data.
The modern HR department will have to recognize data analytics for its full potential.
Big Data. Faster infrastructure. Falling costs. Mobility. Social media.
These IT trends are transforming how companies process data to gain valuable business intelligence. But while technology has made initial strides, there remains a skills gap.
Technology can lessen the burden of doing workforce analytics, but they’re only fully effective if HR team members can make sense of the data and react accordingly.
Building capability around data and analytics involves two imperatives:
- understanding the HR data, and
- the ability to provide predictive and prescriptive analytics.
There is a huge skills gap here –
HR will need to move beyond descriptive data or measuring HR activities, like return on investment of HR spend, and invest in analytics that help business leaders better run the company.
AKT sees huge opportunities to leverage the data employers have about their people to understand how to improve the work environment, curate and better their culture, drive higher levels of performance, and reduce risk fraud and compliance violations.
To do that, HR will be required to apply big data techniques, create predictive algorithms and analytical models, and use deep business acumen and insight, to ensure that they are solving problems that are relevant.
If companies do not have an analytics team in their HR organization today, they should build one – the ability to harness and understand the data about people is core to the HR mission.
Want more details?
In HR in the Digital Age white paper, AKT presents the latest digita HR findings, and we describe how HR managers and leaders should embrace this new Digital HR paradigm.
Download free AKT’s white paper: