Although buzzwords such as “big data” are prevalent in HR today, many organizations continue to provide only basic reporting — such as headcount planning or linear forecast reports — of little actionable value to leadership, according to a report from the Human Capital Institute (HCI), a global organization for the advancement of talent management, and SAP, a software company.
By making better use of human capital management (HCM) data, organizations are finding they can better analyze skill gaps, chart succession bench strength and, in general, more closely align their workforce strategies to business goals.
But many organizations have substantial room for improvement, according to the report:
•43 per cent of companies continue to rely on spread sheets or other manual reporting systems to capture and analyze HCM data.
•Only about 50 per cent of respondents are at all satisfied with HR’s ability to predict their organizations’ talent needs or fill positions with the right people at the right time.
•Less than 20 per cent of respondents strongly agree HR possesses the ability to collect, aggregate and derive insight from HCM data.
•Real-time HCM data is accessible to business leaders at less than 10 per cent of respondent organizations.
© Copyright Canadian HR Reporter, Thomson Reuters Canada Limited. All rights reserved.