HR operates in an increasingly data-driven world, with opportunities in recruitment, retention and beyond. But to realise the true potential, many leaders must upgrade their resources.
Data-driven HR relies on capturing, analysing, and using data to improve an organisation’s decisions on everything from recruitment to employee engagement, compensation and skills development. Done correctly, HR data can deliver faster recruitment, reduced staff turnover and improved levels of employee competency and engagement.
Today’s HR organisations have a massive amount of data at their fingertips. However, they don’t necessarily have the skills or resources to use it, says Ben Eubanks, chief research officer with human capital management analysts Lighthouse Research and Advisory. “There are very few data analysts in HR,” he says. “But by focusing on a narrow set of traditional HR metrics you’re limiting yourself to a pencil sketch, when you could be looking at full HD.”