What is the value of an employee? Squeezed by decreased funding and increased pressures to perform, HR professionals want the answer to that question — but are often left sloshing through a sea of data.
Thanks to new technology, employee information springs seemingly eternal from almost every facet of the enterprise, from retention tactics to benefits satisfaction and engagement rates. A whole subsection of the HR tech market claims it can organize that data, with varying degrees of success.
Its growing necessity in the field, as well as the outsized positive impacts it can have on an organization, makes Big Data analytics our winner for most Impactful Tech of the Year.
Access to that tech, however, is one of the central conflicts surrounding its rise. While most recognize its importance, only one in three HR managers has access to any kind of predictive analytics.
Not understanding the actual value of employees can lead to massive spending with few calculable results, potentially putting HR in a bad position with the other aspects of the organization, Michael Gretczko, principal at Deloitte, said. And most HR professionals are at least aware of that.
“Many of the clients we have worked with aren’t sure how to take that first step,” Gretczko said. “‘I know we should use data, but to what end?'”
In fairness, HR leaders may start at a slight disadvantage, Ravin Jesuthasan, managing director at Willis Towers Watson, told HR Dive. The newer demands on the profession can feel like they came from left field, largely because until recently, HR was seen as a processes profession rather than a strategic one.
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