The Untouched Goldmine...
Without having a defined data flow and specifications in place for the set of HR metrics, analytics and reporting, people seem to sit on an unexploited goldmine. This again challenges the internal benchmarking and raises questions regarding Business Acumen being practiced by HR in any organization.
The problems start arising when decision makers require accessing relevant data in a reliable and timely manner, the HR Department is not able to process the insights given by the HR Information Systems, thus making it difficult for senior executives to make business decisions. This not only creates a missing link in organizational information, but also enlarges the gap between profitability and people.
Top-Notch Organizations Using HR Data...
There are some top-notch organizations that keep themselves updated with workforce analytics and manage their HR processes with accurate data. This facilitates them to calculate the impact of HR interventions, focus on right HR measures, have the best upshots out of Business Acumen and create data-driven business cases.
So, this may not only require investing in the best technology, but also a change in behavior and culture of HR department. The more managers will start taking useful insights out of HR Information Systems, the better will HR approach updated data with a level of inquisition. This will ultimately result in larger groups of internal consumers procuring the process. So, if you also want to be one of the “World Class Organizations”, just make sure that you are not sitting on top of an untouched goldmine.