Data has fast become centric to all significant business decisions. As companies look to take the competitive advantage whilst retaining a keen eye on ROI (Return on Investment) we hear the terms; 'big data', 'analytics' and 'statistics' more than we ever have previously. As such, insight and analysis are a prerequisite of presenting or proposing strategy, change or innovation, whether it be internally to key stakeholders or externally to clients or customers. However, is the HR department in your business keeping up with these changes? And what is the risk to our credibility as key players in the overriding business strategy if we don't? I found this article from HRZone really relevant to my organisation - and thought it was a good one to share. I'd love to hear your experiences and thoughts.
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Great article - It is interesting that in general, company execs are focusing on HR insights that are broadly aligned to finance (cost, roi etc...), the lines between finance/HR metrics are becoming narrower.
I believe a lot of HR functions are currently behind the curve and think that the overarching risk to the credibility of HR when implementing change, is that we will be seen as transactional and order taking function, rather than that as a function that can offer dynamic solutions, predictions whilst mitigating risk for the company........... When you start to talk the same strategic language as the exec, through MI, the credibility will start to grow.....
The question to ask yourself if you want to see if your insights/mi/reports land: When was the last time the senior management team asked you a meaningful questions about your report/paper? 3 months, 6, 12, never? if the answer is any of these..... it hasn't landed.
Yes. Good point. Thanks, Richard.
Thanks Justin
This looks a really interesting article thanks for sharing. I agree data is a good place in which to start many if not all key HR decision making activities and adds credibility to the business focus of the HR profession.
All the best
Sarah
Thanks, Sarah