The burgeoning amount of data available to human resources professionals provides a new opportunity to more effectively manage the workforce. A recent survey of employers, reported by Visier Inc. and HRmarketer Services Group, shows that the metrics most valued for quantifying the outcomes of the workforce and those who manage it include employee turnover, performance, compensation and productivity.
However, the Center for Advanced Human Resource Studies at Cornell University reports that recognizing value does not equate to realizing value. All companies use HR data for basic reporting, but few trust the data. Most use a dashboard or score card to report data, but few have the technology to support in-depth analysis. Almost three-quarters have the techniques to analyze the data; approximately one-fourth have the talent to execute those techniques. And two-thirds have the support of their senior leaders for using HR analytics, but only one-third of HR generalists understand the value to be gained from the information.
Workforce Management, August 2012, p. 24 & 26