Survey of human resources experts and business leaders reveals split on how vital HR data is to company success
Human resources (HR) managers and company bosses are divided on the importance of HR data on business decisions, new research has discovered.
A study by the Chartered Institute of Personnel and Development (CIPD) found that more than half of HR leaders believe that HR data informs and influences the direction of firms, but only a third of business bosses share that view.
The survey took in the opinions of more than 400 leaders of companies and HR departments across the country and found that despite the fact that there is more HR data available now than ever before, such as in absence rates and employee performance, it can be wasted when not used in the right way.
The CIPD said that HR teams could only help firms make informed decisions if the right data was measured, if it was analysed well and if findings were judged and communicated properly.
It said it plans to advise HR staff about the best methods of collecting, collating and communicating data at its HR Analytics Conference and Workshop, in conjunction with KPMG.
With analytics, HR can prove its value to the bottom line of businesses and ensure its future as an integral part of any organisation, according to the CIPD.
The event, to be held in London on March 19 and 20, is designed to offer HR professionals the best tools and techniques available to analyse data and offer examples of best practice.
Expert speakers from top employers such as KFC, Deloitte Human Capital, Rio Tinto, Avon Cosmetics and KPMG will be on hand to explain just why HR analytics are vital and valuable to firms, how to pinpoint the key metrics, how to collate the data, create a dashboard and how best to present information to stakeholders.
They will also outline how data can influence firms' talent strategies and predict skills gaps and how to ensure data can put HR information right at the core of organisations' decision-making, using successful examples from companies with proven track records in HR.
Ways to set up analytics systems for businesses will also be discussed in a one-day workshop.
Copyright Press Association 2013