More and more companies are realizing that they need to effectively implement people analytics in their organization.
One of the key bottlenecks is the lack of technical skill in data processing among HR professionals. Human capital teams need a better understanding of data to effectively implement people analytics findings. They must learn how to correctly interpret the data available in all the dashboards that will come their way to deliver relevant insights and provide better people management advice.
The added value of HR professionals will be in translating analytical results and insights into strategic actions, behaviors and decisions. However, to that end, most professionals in these departments will need to upgrade their technical skills; they need to go back to school and experience enterprise data literacy.
According to SAGE, 62% of HR leaders today admit to not being able to use people analytics to spot trends and provide actionable insights to inform business-related decisions.
With the right people analytics tools, and the right professional perspective, companies can drive smarter decision making while gaining a better understanding:
The rationale behind high employee turnover.
How many resources are being spent on new hires
How the company is performing in terms of diversity metrics
Why there is more absenteeism than normal, etc.
The fact is that the race started a long time ago and some who have not yet even entered the track, over the next few years this gap will become increasingly apparent.