In an increasingly competitive business climate, the ability of HR teams to deliver first class people management is a key differentiator for successful companies. In recent years, the role and its responsibilities have expanded significantly, serving as a major presence in the boardroom and influencing key operations in innovative companies.
Yet too many businesses have not optimised HR as a strategic function. Many professionals lack the tools and data they need to make accurate predictions about workforce planning, resources and finances to develop a truly talented team. Right now, too many HR teams lack the data they need to make high impact decisions that can bring true value to business productivity.
New research from YouGov, which was commissioned by MHR Analytics, shows that HR professionals still feel poorly resourced in terms of data. 35 per cent of HR managers told us they lack the right knowledge and skills within their respective teams to deliver analytics, and a further 30 per cent said they would struggle to choose the right technology. This is despite HR teams admitting they would like to use analytics to prioritise employee engagement (33 per cent) and recruitment (27 per cent) to improve operational efficiency.
Companies cannot continue to starve HR teams of vital data tools, particularly when optimising the skills and dynamism of the workforce is so important for driving productivity. Our research demonstrates that right now, analytics is only used within HR teams for basic functions, with 40 per cent saying it is deployed for managing new joiners, leavers and fundamental admin in the department.
I’ll be exploring the full findings of this new research and what it means for HR teams in my speech, Aligning HR Maturity with the ‘Data Journey’ at the CIPD HR Analytics Conference on 5-6 June 2018 in London, between 3.10-3.40pm on 5 June. I will also be making the case for data-driven decision-making and how it can transform the prospects of companies by improving people management.
Laura Timms is business analytics product marketing manager at MHR Analytics