HR analytics still seem to be a mystery to some human resources professionals. Although more data is available than ever before due to technology, the HR field lags behind in predicting workforce trends, reducing risks, and increasing returns, according to a Cornell University study.
Is Common HR Analytics Useful?
The Cornell study reports that HR professionals commonly use metrics such as performance, retention, engagement, and compensation. However, this data merely presents current or past trends. The goal, according to the executive participants, should be to predict and analyze the future.
Yet, a 2014 post entitled, ‘Grab hold’ of analytics or get left behind, HR warned, suggests that the finance, supply chain, and operations functions are leaving human resources in the dust. In fact, Deloitte’s Global Human Capital Trends 2014 report notes that 86 percent of companies have no human resources analytics capabilities, while 67 percent say their skills using the data to make predictions are weak.