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Planning ? ? ? ? ? ? ? ? ? Change How to Find Solutions for Strategic Concerns in HR through Analytics – Excerpts from a WNS Tweet Chat Management Quality Quality ROI Talent ROI
| Date post: | 18-Dec-2014 |
| Category: |
Business |
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How to Find Solutions for Strategic Concerns in HR through Analytics
– Excerpts from a WNS Tweet Chat
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01Copyright © 2014 WNS Global Services | wns.com
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The current business environment is more dynamic than it
has ever been in the past, but the crux of every well-oiled
organization inarguably remains the same - Human Capital.
With strategies and goals changing form every day, the role
of organizational HR has clearly shifted from the basics of
hiring, payroll, and compensation to a much broader role of
ensuring the availability and retention of human capital in
line with the changing business demands.
We at WNS,
decided to dive deeper into the strategic goals,
concerns and needs of some leading HR
professionals through Twitter. The Tweet chat we conducted
threw up some interesting insights.
Topmost among HR concerns are: ROI on workforce
investment, quality of new hires, change management,
workforce planning and retaining high-performing talent.
Interestingly, while solving these issues, HR leaders also
have to keep an eye on the future and worry about aligning
workforce performance with the organization’s business
strategy. Alongside, bridging the talent gap between demand
and supply remains an important HR KRA.
The sweeping changes in the role of HR need to be
complemented by data interpretation and analysis
techniques, tools and frameworks, feel HR professionals, as
most strategic decisions in HR are based on data. Little
wonder then, that most HR professionals are increasingly
adopting analytics in some form or the other, be it reporting,
descriptive, predictive or prescriptive.
Summarized below are some of the findings from our Tweet
chat with HR professionals:
Even before analytics came into the picture, companies had
been tracking employee engagement. But where analytics
scores over traditional tracking methods
is in its use of action planning
and linkage study. With
analytics, you can
effectively
HR Analytics vs. Traditional Statistics
The focus of HR will be to align workforce performance to business
strategy & bridge the future demand & supply talent gap
#WNSHRO - Re-tweet
Predictive analytics helps improve effectiveness of
recruiting process & identify what characteristics yield
better quality hires #WNSHRO – Re-tweet
02Copyright © 2014 WNS Global Services | wns.com
show that HR has a cause-effect relationship with regard to
business development and calculate a true ROI. By accurately
analyzing insights, companies can facilitate actions that
integrate seamlessly with business strategies.
There are many reasons for the increased interest around HR
analytics. Some of these factors are a result of the current
economic scenario - lack of skilled talent, need for better
resource utilization, the necessity to go beyond intuition-
driven decision-making to insight-driven decision-making. In
industry parlance, these are known as the ‘pull factors’. There
are other ‘push factors’ as well that have put HR analytics in
the spotlight. Advancement in digital technology, tools and
techniques, and the rapid progress and industry-specific
advancements in analytics science are some of the push
factors responsible for the increased interest in HR analytics.
As examples of competitors successfully using analytical tools
begin to emerge, more and more companies are being drawn
to the lure of HR analytics.
HR professionals today believe that as a novice it is important
to understand that success will take time and depend entirely
on the organization’s internal readiness, investment appetite,
and target time-frame to achieve ROI. Many feel that the best
areas to use HR analytics are attrition and retention
management, recruitment, compensation planning and spend
management, and employee
engagement. But
whichever area you
decide to improve
with analytics,
you cannot begin unless you have the building
blocks for the analytics journey already present. The building
blocks being data, technology, and analytics competency.
Most organizations may not have the wherewithal to focus and
build analytics capabilities within their HR teams. In such
scenarios, it is best to engage with a mature and experienced
provider of HR analytics services; a provider that has a strong
understanding of HR systems and processes and can build
analytics frameworks that drive value to the business.
Typically, the analytics journey begins with building a data
warehouse. In an organization, data may often be found in
discrete databases and systems and stitching them together
is the first step in HR analytics. Smaller businesses can do
without a data arehouse, but for bigger organizations data
warehouses work well in classifying data used for analytics
Integrating HR Analytics into Business Strategy
according to the source so that internal
and external data can be used effectively in
decision making.
The next step in the analytics journey is the use of
technology. Currently used analytics tools are horizontal in
nature and statistics-based. But as technology matures, we
will soon see HR-centric tools with defined functionalities.
It is important that companies stay abreast with the
technological developments.
Analytics competency is the third and most important
requirement for HR analytics. To be able to go beyond normal
number churning, one needs to ask the right questions. This
requires both horizontal (analytics / statistics) knowledge, as
well as vertical and domain-specific knowledge. Providers
that have people competency and domain knowledge are
best suited to help businesses gain the edge by using
HR analytics.
HR analytics is an emerging field, and there are challenges
involved in the implementation of an in-house model.
Third-party providers with engagement models like analytics
Software As A Service (SAAS) and outsourcing make it easy
for firms to adopt HR analytics. HR folks interested in making
HR analytics work for them must look for providers with
people competency and deep domain-knowledge to address
these challenges and start their analytics journey with
complete confidence.
The Last Word - Overcoming the Roadblocks
ROI on workforce investment, new hire quality, change mgmt, workforce planning & retaining high-performing
talent are some #WNSHRO – Re-tweet
Focused-solutions & 3rd party service providers can help
address the challenges in implementing in-house model #WNSHRO – Re-tweet
Analytics cannot begin without three building
blocks – Data, Technology & Analytics Competency #WNSHRO – Re-tweet
03Copyright © 2014 WNS Global Services | wns.com
The Tweet Chat was held on Sept 9, 2014 and the domain expert representing WNS in the chat was R. Swaminathan, CPO, WNS Group.
R. Swaminathan, Chief People Officer, WNS Group
Swaminathan leads WNS's Human Resources function, and is
responsible for the entire gamut of people-oriented processes.
Swami is an HR professional with experience spanning
Operations and Sales. Prior to joining WNS, Swami was with CA
Technologies, where he served as Vice President – Human
Resources and was the Country Head – HR of India. He has also
served as Head of HR Operations at Syntel and thereafter, for a
short while, was its Global HR Head. Prior to Syntel, Swami had
a long tenure at GE spanning multiple roles such as Master
Black Belt-HR and Assistant Vice President and Head –
Operations for HR, Customer Research and Operational
Analytics, apart from other roles in mergers and acquisitions. He
is a certified Change Acceleration Coach and a keen practitioner
of Six Sigma. Swaminathan has a Masters in Social Work (MSW)
from the University of Madras.
For more details on the tweet chat, follow #WNSHRO
For more Information write to us at [email protected]
