Tuesday, August 9, 2016

HR analytics has the potential to stem the silver brain drain - WORKPLACE INSIGHTS

by Matt Hendersen 
Originally published: August 6, 2016
Publisher: WorkplaceInsights.net

We’re operating in an increasingly tech-centric environment, but human talent still remains one of the core differentiators if a business is to thrive. Not surprisingly, the mission to get the very best people on board and optimise the potential of those already in situ has become the Holy Grail for many companies, irrespective of scale and sector – a challenge that demands a more intuitive and precise, even scientific approach to human capital management. Data analytics is a case in point, designed to extrapolate insight from intelligence across a variety of disparate sources and establish actionable intelligence, capabilities which naturally lend themselves to powering key decisions around hiring and retention and building on existing talent. Yet despite the proliferation of analytics across many strands of the workplace, take up in the HR sphere remains relatively modest, in tandem with a long-held reticence over the use of the technology in this area.

Therefore, overcoming this with practical solutions which tackle the ongoing perceptions over complexity is crucial if the game-changing potential and the competitive advantage of using this intelligence is to be fully realised and opportunities seized.

Establishing a broader analytical culture rather than simply deploying the technology and expecting the magic to happen is vital to success which is why companies are increasingly turning to consultancies that can invest the time and expertise, and crucially address the internal skills gap which is often prohibitive to the technology’s successful implementation.