Where do the best hires come from?
What traits do these people share? What is it that motivates them and drives them to perform at their peak?
Do you know what skills your business requires today – and in future – to meet growth forecasts?
These questions used to be answered mostly with intuition and guesswork. But that no longer works. There is a global talent war and businesses need to start making strategic hires and changes to overcome the engagement hurdle.
Sage’s ‘Becoming a People Company’ research suggests that only 29% of employees are completely engaged at work. This is because they aren’t getting what they need from their employer – to feel appreciated, to feel like they’re doing purposeful work, and to have flexibility.
Businesses have all the data they need to become ‘People-Centric’. The ones that treat their staff as their most prized assets understand that the success of a company depends on the success of its employees. All that’s remaining is getting the technology to turn all that data into usable insights.
Thanks to AI and automation, and with access to more employee data than ever, HR is best placed to use its people information to attract the best talent, improve employee experiences, and put forth the business as a choice employer.
Although 83% of HR leaders are of the belief that data should determine their people decisions, only 37% use data analytics to do this. Up to 92% of businesses are battling to get the strategic people insight they need.
The reality is, companies have to get it right.
Automation and data analytics are driving enormous change in HR. With the automation of almost all HR functions, and with digital channels available to employees for self-service, recruitment, and personal development, HR departments are in the ideal position to transform from simple administrative hubs into senior business partners.
The result is:
- Better employee satisfaction and engagement – Using insights to personalise the employee value proposition and actively boost individual motivation and engagement.
- Greater team retention – By understanding the reasons behind high staff turnover, it’s easier to prevent it.
- Better training and development – By identifying skills gaps and measuring the effectiveness of current training initiatives.
- Successful talent acquisition – Knowing where to find the best hires, and how to avoid the worst ones.
- Improved performance management – Knowing who is performing at their peak, and who is in need of assistance of further skills development.
An effective HR analytics implementation needs to be built on a healthy HR management system, if they are to embrace people analytics and technology to transform their operations.
HR departments need to start thinking about the skills and platforms the company will need in future. They need to understand what kind of systems they should be implementing to become a People Company, and also how they can become more data-driven.
The right talent and skills will need to be hired to support these efforts. Not only will HR managers need to upgrade their own digital skills, but they might also have to employ data scientists to help them understand their data and how to make their insight actionable.