In a recent article by John Schwarz in HRO Today, accepting the imperative of a data-driven enterprise is half the battle. Proper execution is equally key.
According to industry research, companies using workforce analytics outperform those that do not. It is that simple.
In a 2010 report, Analytics: The New Path to Value, researchers from MIT revealed that top-performing companies are three times more likely to be advanced users of workforce analytics than lower-performing companies. As well, these top-producing companies are two times more likely to cite workforce analytics as their competitive differentiator.
This is a definitive statement about the power of workforce analytics as a core driver of an organization’s success.
With workforce analytics, HR professionals can play a more pivotal role in their organizations to help direct senior management and hiring managers in connecting the dots between their company’s overall performance and their investment in their workforce. Workforce analytics empower HR professionals to shift from being an operational function to becoming more of a strategic role within their organization. Workforce analytics uncovers deep insights into workforce data by drilling down into the data and highlighting both patterns of success to be repeated and patterns of failure that could lead to risk and impact. Equipped with powerful workforce metrics, HR leaders can clearly identify and communicate to the “powers that be” precisely where their company’s investment in human capital is paying off and, more importantly, where it is falling short and why.
But many leading organizations today still do not use a formal workforce analytics solution to help manage their HR metrics and/or are still figuring out how best to access and measure the data they do have more effectively.
Join us in Dublin this year as we discuss this topic and many others in our Innovation and Competitive Advantage and Technology Tracks. We have invited some the of industries top performing companies to discuss with us how they have achieved competitive advantage and what tools and practices are helping them reach their goals.