HCM: Using analytics to help organisations fight back

HR is undoubtedly growing in importance as the recession continues to hit organisations hard affecting profits and growth opportunities. As a result, it is being heavily scrutinised as tough decisions such as making redundancies are made. Before HR personnel wade in with ‘hunches’ and gut instinct, they should first take a step back and remove much of the associated subjectivity by implementing analytics analysis.

HR directors need to invest in their team's analytical skills and ensure balance with other functional specialists. At the same time they need to examine their workforce information and create reports and insights on a regular basis so that when decision makers get the data, they know it can be relied upon because it’s not the first time they’ve seen it. This is a difficult thing to create over night and the companies that do this best have been on a journey for some time. They've developed a trusted, reliable source of information that can be used during good times and bad.

This article introduces some of the many analytic tools that can be used to provide weight and justification to key decisions that can significantly improve workforce insight which in turn can generate significant operating efficiencies and cost savings.