Big data has dramatically changed the way businesses are done across the world by helping organisations outperform their competition through intelligent analytics. It has brought a radical change in marketing and organisational methodologies for almost every business sector.
HR industry is no exception.
Big data has revolutionised the way HR departments leverage workforce analytics to support their organisation and even their employees.
Harvard Business Review Analytic Services in a survey found that 73 percent leaders experienced talent gaps that have led to missed business objectives. Workforce Analytics is critical if you want your business to grow.
Here are some of the smartest ways HR professionals are using Cornerstone OnDemand to leverage the benefits of Workforce Analytics:
- Data-Driven Decisions
Cornerstone OnDemand makes it possible to work with data sourced from various departments and draw Workforce Analytics that makes it easier for stakeholders to make smart decisions. HR professionals no longer need to rely on their assumption to make decisions. Equipped with data backed insight, HR professionals can take decisions with regards to important HR processes including changes in the onboarding process, improvement in recruitment efforts and decisions related to strategic moves. HR Department can leverage workforce analytics to drill down deeper into the individual level to identify their highest-potential employees and things that help them deliver peak performance.
- Focus on data that matters
Steer clear of vanity numbers and focus on HR metrics that matter “right now.” Big data collects information and turns it into knowledge that can be broken down into actionable tasks. There is no dearth of HR metrics available. Therefore, choose your time wisely on the insight that helps you achieve active business objectives. The best analytics is the one that helps HR professionals formulate the roadmap for achieving both the company as well as employee-centric initiatives.
- Put everyone on the same page
Share the metric with the employee to prevent them from building their own metrics. This helps individual employees align their goals and objectives with that of the company’s. Rather than blaming employees for things they have missed, individual and team metrics can be used to help employees identify gaps or areas they can improve. You can ask employees what ideas they have that can be implemented to handle this. Employees like to help, contribute and have a voice.
- A unified system
Typically in most organisations, HR teams work on a plethora of different tools. The saddest part is that most of these tools don’t interact with each other. This creates a challenge in obtaining cohesive data that provides deep, mind-changing insights. The best thing when working with Cornerstone OnDemand is that all the data is right there. As an HR professional, you can pick a few KPIs aligned to your business strategy and start working from there to generate results.
- Drive Predictive Analysis
Cornerstone OnDemand enables HR professionals to leverage workforce analytics to support their organisation with talent factor criteria to drive predictive analytics. In fact, the system allows to drill down to individual employee level. Predictive Analysis helps HR professionals demonstrate their strategic leadership by analysing and turning data into actionable insights that can be used in day-to-day HR processes. This helps operationally to increase engagement, productivity, and employee retention.
These are just a few ways in which HR professionals are leveraging the abilities of workforce analytics. To learn more about how workforce analytics with Cornerstone OnDemand can do for your organisation, your HR processes and initiatives, contact us at Reddsand.