Identifying metrics, measuring output and analyzing information are common practices for every business. Leveraging data to make the best decisions is key to building a successful organization. There’s no doubt data analytics is here to stay. However, did you know 80% of HR professionals score themselves low on their ability to analyze data? As a result, an opportunity to provide guidance and value can be completely lost.
After this course, you’ll understand the important terms and concepts associated with HR analytics and the purpose of developing them in your organization. Start using techniques to begin the analytics process. Learn a new skill that'll help you and your HR department gain credibility and make better decisions.
HR Jetpack is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1.50 PDCs for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit shrmcertification.org.
This activity, has been approved for 1.50 HR (Business) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
The use of the HRCI seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval.
Title: Available support
Module: Setting the Foundation
You don't have to do this on your own! In a previous lesson I mentioned the great advances in technology. It is key for the collection, storage, processing of, and analysis of data. Software is available for each HR discipline from recruitment to succession planning to retirement.
There are a number of resources. In fact, growth of new tools has skyrocketed over the past few years. Most HR software vendors are offering complete HR suites which include analytic components.
Here are a handful of major players.
IBM offers an entire suite of HR analytics tools.
Successfactors, an SAP company, offers cloud based software to organizations of all sizes.
Oracle provides an integrated cloud application to small and midsize businesses as well as enterprises.
ADP is a global provider of cloud-based solutions to all types and sizes of businesses.
Ceridian also provides a number of HR cloud-based solutions.
Workday offers cloud based finance and HR software globally to a large range of customers.
Again these are just a handful of major vendors. On a side note, when you hear the word "cloud" it's in reference to cloud computing. Instead of all your computer hardware and software sitting with you on your laptop or desktop computer, it is provided to you as a service and managed by another company. Ever use Google Docs? It’s a great example of a very simple cloud type technology.
The consulting market has also experienced a great deal of growth in this arena. Mercer and Deloitte are just two examples of major consulting firms. There are a number of external teams that can help your department develop its analytical expertise.
In summary, several factors have made it easier for HR professionals to take advantage of the available technology.
First, cloud based analytics software now enables the user to aggregate and analyze the data.
Next, the visual components of such software have evolved to help you tell a better story. In another course, I mention the importance of representing data in a concise, easy to understand way so your team members get it and get it quickly.
Lastly, more and more organizations are becoming comfortable with the idea of cloud based technology. It has taken some time but with the increased focus on security, your leaders will be more willing to make an investment.
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Christina A. Danforth, SHRM-SCP & SPHR, launched HR Jetpack in 2016 to support the development and professional growth of her fellow HR colleagues. She started her HR career in 2002. After obtaining her Master’s in Business Administration degree, Christina joined United Technologies Corporation. She moved across the United States...