Ascendence of Analytics with evolution of HR

These days every big organization, tries to have sophisticated HR Information Systems, for instance SuccessFactors or Workday. This resulted in excitement of HR profession which enabled leveraging data to inform strategic workforce decisions in a very different way which is not seen earlier. This has obviously escalated the duties of HR. From recruiting, to payroll, to staffing and compensation, it’s a lot. They have to be everywhere. Yet, their role is undervalued as the revenue coming in isn’t directly related to their work.

HR has long struggled with its identity and for the most part they have succeeded in breaking away from a traditional support role and evolving to a more strategic, data driven one. For a lot of HR professionals, it’s become more about the numbers and analytics. Just like how data transformed marketing, now making its way through HR.

With rising expectations from HR in every aspect in an organizations, led to amelioration of HR analytics. But with these they also faced some troubles. Here is the list of the biggest issues faced by HR professionals, and how much data has become essential part of this game changing scenario:

Strategic Thinking as a Core Competency

Surveys suggest that HR will rely heavily on strategic thinking for coming future as it is considered solid foundation of most success for the modern workplace. And as no innovation gets born from one great idea; it shapes over the time, and minutely assessed. Gradually, HR’s have to pay attention to fill a position as soon as possible with cost effective training which also includes strategic thinking. Usually high-performance businesses, employ both strategic planning as well as thinking in an equal proportionate, they more pay attention to strategic direction. Here HR professionals get to understand people management more deeply as well business strategy and operations because HR professionals has now equally needed decision making in a business such as COO, CFO or co-founder.

Critical thinking is one of the most vital attribute of strategic thinkers. Listen to all employees and not just give feedback immediately instead they collect information; then they take proper time to evaluate and assess later. What they do next is ask team for the confirmation and request feedback from every team members.Ultimately they seek for proposed solution and certain all details.

Workforce Analytics

It has been years, organizations have aimed on the tactical information HR needs and regard this technology use has been priority. Some may lack ability to turn substantial volume of data into actionable and useful information. Many HR organizations are too behind to facilitate strong reporting and analytics capabilities to people management requirements.

One of the main issues that HR faces is scarcity of resources if a field is new to market, particularly in workforce analytics. A must for workforce analytics is, set of data analysis administrative tools with a blend of improvement decisions and performance measurement.  Workforce analytics helps HR leaders to get adequate ROI on budget allocation and talent management for the workforce and also raises qualitative reporting for performance management.

With a conduction of survey by Visier, in which 300 HR Managers and directors were asked to opine upon the biggest barriers and the reason behind lack of resources which hinders workforce analytics. Majority responded that predictable analytics has been organizations’s priority starting from startups to large enterprises which seek to adopt repetitive or recurring scalable methodologies and processes.

Workforce issues such as rewarding, acquiring and retaining talent are most prominent on corporate agendas. This, fluxed with tactical issues like need for consolidate reporting, self-service reporting, disparate HR Systems and the demand for basic reporting makes out the spectrum of challenges faced by organizations currently. Resolving all issues, we still need fuller ways to educate the higher authorities or executives on the workforce analytics and how it contributes in growth of a business. If your company and its HR’s haven’t yet bought analytics and continue the traditional way, soon you will reach a bottleneck.

The Ever Changing Workplace

Today, workplace got incredible number of pressures with the escalating pace. To name a few: the rise of social communication, environmental pressures such as rapid technological change, increasing globalization and tougher competition and need of autonomy are all playing a part; changes occurring in organizations such as new structures and hierarchies, organizational alliances, mount in mobility both for the worker and in the workplace. The future will see a shift on the talent war where HR will be answerable for human-capital analytics for business decision making. With these troubles, HR’s real and perceived value increment will be required.

The Future of Hiring

In the hiring space, organizations are facing more challenges they need to be more agile so to continue their graph of market share steady for the talent pool. Here, technological leaps can not be taken easily, but there are signs of improvements already. Much of the progress had have reason that is capability to learn algorithms in determining patterns in data. Utilization of systems which can scan a big collection of appliers and take this predictive signals to distinguish those who are relevant. For example, people’s career movement have some identifying behavior such as reiterative behavior; some people like to stick at one place while others tend to hop around. These can deciding factor for recruiters to give an opportunity to those who are ready for it. This particularized approach yields better efficiency to both recruiter and candidate.

With all these advancements, Natural Language Processing technology is also playing an important role by offering a powerful collection of tools to assist companies map experience of the candidates, especially in skills, leadership domains and specialties so as to pick out right candidate with confidence.

The current era is considered best for HR professionals, even with uncertainty and evolution, with the trends, opportunities do rise up for HR to be more of an integral and important part of business decisions. With the expansion of workforce analytics planning, future workforce will be definitely benefited with changes and evolved talent management process.