For HR Analytics: A Practical Guide to the Future of HR MHR Analytics commissioned YouGov to poll 500 HR leaders. The survey found that 44% do not have a main focus on HR analytics.
When asked what the biggest barrier preventing them from delivering on HR analytics was, 35% of HR leaders said not having the right knowledge or skills within HR, followed by choosing the right technology (30%) and lack of quality data (30%).
Of those who are using them. 40% stated that they use it for regular operational reporting, 29% for strategic or financial workforce planning, 23% for utilising insight from the wider business in HR, and 14% for predictive insights.
Nick Felton, SVP at MHR Analytics, said: “Smart use of big data is now essential for organisations in every sector who are serious about driving growth. With the right tools quality data can be collected and used to save time and money."
Max Blumberg, founder of people analytics think tank Blumberg Partnership, added that strong analytics have a number of benefits.
“Gaining insights into the performance of the workforce and associated resources enables faster more accurate decision-making and delivers savings to the bottom line,” he said.
“The YouGov research conducted by MHR Analytics shows that many UK businesses are failing to equip HR professionals with the analytics tools they need for high-quality people and process management. At a time when analytics can play a vital role in managing salaries, payroll and performance measurement, investing in technologies like this can help companies gain the competitive advantage.”