Organisations are capturing more and more data every day about their candidates and employees. The main reason for the increase has been due to the new technologies being implemented. A great example is the amount of data that can be captured during a candidate recruitment assessment, which can be up to 25,000 new data points per candidate per assessment. The issue is how can organisations use this data to gain insights.
With the increase in the number of HR software platforms being deployed across organisations today, the need for analytics has never been greater. Analytics comes in many forms, from the basic but needed BI operational reporting to the strategic and scenario planning.
To be successful in the analytics world, organisations need to have a mix of capability and technology. Technology provides the foundations to ingest large amounts of data from multiple systems in various formats and apply complex statistical analysis at speed.
Now is the time for organisations to apply a data-driven approach to decision making.
We know that some of the challenges you are experiencing are also commonplace with some of our other clients.
Embedding insight into People Processes. Insight is still a ‘nice to have’ in many areas of HR instead of a critical tool to support decision-making.
Producing insight at speed. We are still hearing about leaders and stakeholders who are expected to sift through lots of reports – sometimes hundreds – to get what they need.
Capability beyond operational reporting. HR leaders are realising that the people producing operational reports lack the bandwidth and sometimes the skills required to produce analytics and have recognised they need additional specialised resource.
Data. Most organisations are still struggling with a combination of a lack of available data, poor data quality, and a lack of connections between data sets and these issues prevent some organisations from producing meaningful people-related insight.
Connecting tactical and strategic. Many organisations haven’t been able to connect tactical planning activities (like budgeting) with strategic planning and future of work activities.
Subject Matter Expert
Business Intelligence Lead EMEA