The challenge: Managing people as both costs and assets
People are ironically both an organisation's biggest asset and their biggest cost. Research by PwC found that at least 60% of UK CEOs plan to increase their headcount, and this very same proportion also want to reduce their people costs.
This task of keeping on top of employees as both assets and costs is inevitably difficult for organisations who rely on manual methods to manage their people data.
Understanding employee behaviour and the financial state of your organisation is something that has to be constantly observed, and cannot be achieved through simply manually inputting data into spreadsheets.
Experts agree that we’re entering into the fourth industrial revolution – the era of big data. As the world becomes more and more driven by data, HR Analytics is quickly emerging as the future of HR, and a practice that organisations must adopt in order to stay ahead of the curve and remain competitive.
HR Analytics is putting organisations in control of their people data by freeing them from the limitations of intuition-led decision-making and helping them understand what’s really happening in their business.
The technology is working to give businesses a significant advantage against the competition by providing organisations with full visibility of the root causes of business obstacles, as well as the necessary tools to anticipate the future scenarios and prepare for them in advance.
This report will uncover research, which reveals the current state of HR Analytics within the UK’s HR departments and the practical steps that organisations can take to adopt HR Analytics in order to prevent being left behind as the sector continues to rapidly evolve.
What the experts say...
Dr Max Blumberg, founder of the people analytics think tank, the Blumberg Partnership:“Gaining insights into the performance of the workforce and associated resources enables faster, more accurate decision-making and delivers savings to the bottom line. Investing in analytics technologies pays dividends by supporting the management of salaries, payroll and performance measurement, helping companies compete.”
The report will explore:
- How HR decision-makers are currently implementing analytics
- HR Analytics success stories: How HR Analytics has been used to drive business success
- The six biggest barriers which prevent HR departments from implementing HR Analytics and how to overcome these barriers
By the time you’ve finished reading this, you should be able to understand the ways in which HR Analytics can be used to optimise your HR function and how to overcome the barriers that may be preventing you from implementing it in your own organisation.
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