4 reasons you don’t need a HR analyst to get the best out of HR analytics
Our Reality of HR report revealed that 21.9% of HR professionals view people data and analytics as a top priority for the year ahead. Yet the majority of them also reported having little confidence in current technology. In fact, only 4% had complete confidence in their data and 11.2% viewed inaccurate data as a top challenge for the year ahead. There is a common misperception that HR struggle with data analytics when often they are dealing with out of date systems that are disconnected and people data that is unreliable.
While a HR analyst can be a valuable asset to the team, there can be a lot of value for HR leaders and professionals diving into HR analytics. The process of data discovery often leads to inspirational moments and builds your skillset in the process. Not only that, if you work for a SME, the budget isn’t always available for a dedicated HR analyst. With that said, here’s 4 reasons why you don’t need to be a HR Analyst to get the best out of HR analytics.
1. The right HR systems include intuitive reporting tools
As it stands many HR professionals are trying to make sense of nonsensical data, dealing with various excel sheets and system downloads to create manual reports. They then present these findings to the board and discover that it doesn’t marry up with the rest of the business. This frustrating process not only creates more excess admin for HR, it also fuels a self-doubt in their data analysis skills. This then leads to a lack of confidence from senior stakeholders in your ability to be a strategic partner and read the data.
While it’s easier to assume HR lack the skills to read data, department siloes and disconnected systems across the business are usually the issue. If the business invests in integrated HR systems that connect to the wider business, you will also have access to connected data and intuitive reporting tools. Tools you can use to generate data stories that make sense. That validates your ideas and strategies to the board without having to rely on a HR Analyst to make sense of it for you. Access Workspace, for instance, brings all your business and HR software together in one place, through a single sign on, ensuring one central source of data which enables powerful analytics. You can create analytics reports across your entire software suite, safe in the knowledge they are accurate and up-to-date. When you have the right technology in place you can read the data, which not only helps you and the business meet your goals, it makes you look good in the process.
2. Understanding the data will boost your confidence in meetings
The sense of achievement and process of data discovery doesn’t have to be taxing and frustrating. If you have the right technology in place, reading the data and reviewing the impact of HR activity against previous months and years can be motivating. You don’t need to be a data scientist to get the best out of your people data. If you have the right technology in place you will be able to use intuitive reporting tools to help you make better decisions and achieve results.
For example, let’s say you discover that a new company perk implemented in the last quarter has had little to no impact on employee engagement. On discovery, you may decide to run an employee survey or set up some focus groups with department heads to get some employee feedback. This will give you more insight into the reason for its lack of impact before you go into your next strategy meeting. Conversely, if you see a huge uplift in engagement you can pat yourself on the back and walk into the next meeting with a bigger stride of pride for a job well done.
3. HR analytics is another string to your professional bow
Proving your acumen with internal HRIS software and making data informed decisions is not just great for the business, it’s great for your professional development. According to a global leadership survey, HR leaders are not as adept as other business leaders at using data to guide business decisions in a highly digital environment. In addition, only 11% of business leaders trust HR to use data to manage and anticipate their recruitment needs. All reasons having HR analytics as a proven skill will help you stand out in the job market or increase your value in the business.
Employers are keen for HR leaders to help drive business performance by making more data-driven decisions. Yet 51% of organisations say they don't use big data because of a lack of knowledge. If you take ownership of HR analytics and learn to generate meaningful reports using an intuitive HR system you can start building up your HR analytics skills. Which is a savvy way to drive the business forwards, as it will increase your value to the business and make you highly sought after for future employers if you ever decide to move on.
4. Understanding people data will help inspire new ideas
The instinct for HR to hide from the data often comes from a fear that it will override creativity. When actually it has the potential to validate your ideas and fuel creativity. If you are involved in the process of extracting the data, you are more likely to feel invested in the findings and expand on your ideas in the process. Real-time insights could also have a significant impact on your daily decisions. For example, before you send an internal update on a Friday you might take a quick dive into your data suite and discover that employees are much more likely to read it on a Monday morning. Taking this on board you hold fire on the update and decide to wait until after the weekend.
You may also notice that previously engaged employees are suddenly showing less interest in business activity or decreasing their use of online systems. Whether this is a specific individual or an entire team, this may cause you to investigate the cause of this downturn in engagement and come up with some new ideas for employee training or team building. Major companies like Xerox, Wal-Mart and Credit Suisse are already tracking and reacting to employee behaviour in this way and have reported increased employee retention rates of up to 20%. By actually extracting and reviewing your own HR analytics you will not just be able to make better data informed decisions, but the process itself could lead you to come up with brand new ideas. Creativity born from data insights is possible and very much within your reach if you have the technology in place.
It’s your time to analyse people data with confidence
If you’ve previously struggled to get your head around data, then the chances are the data and technology is the problem, not you. You can learn more about powerful reporting and analytics with our HR software.
Check out our Connected Business Guide to help you build a business case for implementing integrated systems and a robust data warehouse that can help drive performance in your organisation.
