Analytics can cover a continuum of insights from charts to dashboards to automated systems which incorporate algorithms for complex forecasting. At the heart though, analytics uses data to isolate factors that are highly correlated with their impact on business outcomes to make better evidence-based decisions. It challenges HR leaders to see the impact of their people practices from the business perspective rather than through an HR lens.
Unfortunately, many HR systems which offer ‘analytics’ packages only provide pre-determined views, charts and aggregate analysis and cannot address specific business questions. Data has to be extracted from these systems to do further analysis and to link it to additional business data.
We partner with companies to move beyond reporting aggregate data, to develop the skills and expertise to interpret data in the context of the business and to leverage those findings to impact strategic corporate outcomes. We always start with understanding what the business issue is and then use data to uncover the roadblocks which are impacting full performance.
Help your executive and board move beyond time to hire, turnover, absenteeism or leave balances they are currently requesting to monitor corporate health. Focus your executive reporting on segmented data to show where HR can identify areas of risk, provide specific actionable insight and have exponential impact with targeted interventions.
Based on your expertise in HR and knowledge of corporate priorities, be able analyse and articulate the risks and opportunities presented by combined financial, operational and HR data. Combine your intuition with analytic tools to ask better business questions.
Analytics’ impact on the business results in more strategic and fact based decision making. Financial gains and increased awareness of the power of evidence based decision making may also be leveraged to invest in tools and technology to improve the speed and accuracy of on-going data analysis.
Whether your data is in Excel, a payroll system, HRIS or other enterprise solution, we can help. Get in touch for a free initial consultation.