It is now 2016. Yep, I've checked at least twice.
I truly believe that this is the #YearofHRTech and early adopting HR Leaders are going to be able to stretch their market lead by taking their data they currently use for Reporting and get it to work hard with Analytics.
Don't believe me? Look at the diagram below...
This graph is now a full year old since it was first published by the IBM Institute. There are many takeaways from this graph:
- Firstly, the proportion of people not using their data in some way is on average approaching only 1 in 10 people - if you are not using your data in these areas you are already in a tiny minority.
- Next, and this is what surprised me, about 30% to 40% of CHROs use their data for reporting only. To be honest, with what I hear from my conversations I was expecting that to be higher, because this means that just over half of respondants in HR are ALREADY using their HR data for some form of pattern analysis, a basic form of analytics - Question: Are you in the lagging 50% or the forward thinking 50%?
- Finally, On average, 10% of CHROs are already using their data for predicting future outcomes - and this was from 12 months ago!
I know what you are saying - this is a US survey and they are always in front of the curve when it comes to technology. But no! It was a global study...
There is a lot in the news about the UK being one of the lowest for productivity in Europe:
HR Analytics is a great way to analyse performance with survey and engagement and line manager capability, looking for the optimum working practises for YOUR business and not relying on best practice of others. We all know that organisations are different from each other. Analytics gives you an opportunity to find your own unique "sweet spots" to maximise your company's productivity.
This is why the majority of the blogs at tap'd Solutions are about analytics. I really do feel passionate that it is the next step for HR to transform itself from an ageing Ulrich model.
Anthony Ryland - firstname.lastname@example.org - 07717751815