Over the past couple of years there has been a growing emphasis on the need for HR to get serious about workforce analytics. This is often presented to HR Leaders as a fait accompli—that is, data and analytics are the new wave and HR simply needs to get on board. While this is true, it’s helpful to look at why this is important. Here are five compelling reasons HR Leaders really should take the leap to workforce analytics.
There’s a lot of focus today on Big Data and analytics and this extends into all areas of business, HR included. We get it and we’re huge proponents of its value—in fact we’ve built our business on workforce analytics and insight. We know that numbers can tell us what’s working and what’s not within an organization. They can identify how much it costs and how long it takes to recruit a new employee; where, when and who is leaving the organization; who the top performers are; where we experience the highest productivity, and so much more. So data can tell us a great deal about what, who and where things are happening in an organization.
Established in 1995, First Reference is the leading publisher of up to date, practical and authoritative HR compliance and policy databases that are essential to ensure organizations meet their due diligence and duty of care requirements.