Today’s rapidly and continuously changing business milieu demands greater agility than ever and the success of businesses hinges on the ability to swiftly transfigure strategies as circumstances evolve. As companies digitise, leveraging the best solutions helps establish your platform for innovation, business process automation, as well as built-in sophisticated integration.
Now, notably, one bold assertion can be made about corporate assets to form the basis of this argument: The most important asset of an enterprise is its people. Against that reality, it is easy to imagine the value of driving impactful decision-making with solid business data that can enable successful work initiatives, support business goals, and allow HR and business leaders to measure talent results and clearly communicate their business impact.
The agile workforce – meeting opportunities head-on
Can you confidently answer questions as to how many employees exactly you have within your organisation? What is your profit per employee? How do they compare against industry trends? Which business unit has the highest or lowest achievements in meeting strategic goals?
Take a minute, pause and picture this: An organisation has recruited 50 people across all its branches, of those 25 percent are actually getting good performance reviews for the quarter. This means only 13 of the people are actually contributing to the bottom line. Of the remaining 37, only 15 percent actually meet the industry benchmark in terms of skill and expertise. This leaves 31 people whose contribution to strategic goals is not measurable thus begins to question their relevance.
Do we replace the people? Is this human resources loss necessary for the organisation? How then can we get insights as to better manage these challenges that face the organisation and gain key answers to key questions about workforce challenges and provides guidance on how to solve them?
Connecting the dots with HR Analytics
SAP SuccessFactors, the cloud HRM software company state that companies are investing in big data and analytics tools to help make their HR departments more insight driven and improve operational performance but very few organisations have done significant statistical analysis of employee data at all. The rest are all trying to get from under the burden of data management and reporting challenges to deliver standard operational metrics.
As with any sophistication, HR analytics initiative alignment with the business and a focus on data quality are critical to ensure the success of an enterprise.
In the case of SAP SuccessFactors, its HR analytics platform allows access to human capital with pre-built reports dashboards, best practice, and industry benchmarks. It also allows the management to gain clear insight and guidance by using workforce data with additional business and third party data for each role in the organisation and maximum exploitation of the potential of your workforce.
SuccessFactors HR Analytics simplifies and manages a complex business world to transform and streamline processes, unify workforce management and harness the decision power of big data. In other words, discover the best trends and practices to help you think in a digital diverse economy.
HR Analytics the platform for today, and the future.
Powerful HR analytics have an irresistible value proposition to organisations. Through provision of concrete and actionable insights on the workforce, organisations develop a close and personal relationship with employee data. This, in turn, equips business leaders to come up with a strategy today that creates a catalyst for positive change and help organisations plan for tomorrow and beyond.
An organization is the people and the people are the organisation; so, how can we then make their lives less complicated in order to ensure they go over and beyond for their business?
Simple. With in-built decision support, traditional HR management is often characterised by bureaucracy and snail-paced decisions. With transformed HR analytics (sporting such data integration), it is easy to correlate multiple data streams, human resources and talent management with financial data, as well as analysis across measures and dimensions which provide consolidated real time information.
By 2020, there will be four times more digital data than all the grains of sand on Earth (Digitalist Magazine). Some organisations have realised such gains of utilizing effective HR analytics and are already becoming leaders and pace setters in business. By obtaining relevant data about employees, SAP SuccessFactors a cloud-based human capital management (HCM) software has surely changed the dynamics of the human resources environment.