Bruce Marable is the CEO of Employee Cycle, which aggregates all your data from various HR systems into one real-time and beautiful HR dashboard. When Bruce is not helping HR leaders become more data-driven, he is hosting the “Employee Cycle” podcast and interviewing professionals about HR trends, tech, and data.
Human resources professionals have been slow to get on the HR data train. Have you noticed that too? Is it a lack of forward thinking? Is it the huge challenges of finding the right technology and then implementing HR analytics? Maybe you don’t have the support you need to make it happen. What reasons have you found hesitancy to venture into HR data?
Can HR analytics really help businesses stay competitive? The simple answer is yes. Not only is the collection of HR data becoming a smart means for making strategic business decisions, but HR analytics is becoming a necessity for companies who are wanting to stay profitable in an ever-changing work environment.
The Challenges Facing HR in 2022
HR departments are now involved in analyzing HR metrics at more than 90% of enabled organizations, according to a recent employer survey.
That’s great news for HR as a professional group, but if you are a member of the roughly 10% currently outside the HR analytics loop, then you’ve got some work to do to level up. Fortunately, catching up has never been easier.
Employee turnover is the HR metric that is most closely analyzed and acted upon by organizations, but it shouldn’t get all the attention.
In fact, a recent survey of HR professionals found that time-to-fill, employee absence, and cost-per-hire were some of the other most analyzed metrics after employee turnover.
Just imagine if your organization’s HR department spoke English but Accounting spoke only French, Operations spoke only German, and Legal spoke only Mandarin. How would you ever get any work done?
