Deloitte’s recent report, “Global Human Capital Trends 2015,” is a wake-up call for HR leaders who are paying attention. For starters, the report ranks learning and development as the third most important talent management challenge facing business this year (the most important challenge was culture and engagement, followed by leadership).
But while three times more companies rated learning and development as very important this year compared with 2014, only 40 percent of respondents rated their organizations as “ready” or “very ready” in learning and development in 2015. That compares with 75 percent in 2014.
What that means is that while we keep hearing about how rapidly business is changing and how HR is transforming, HR continues to fall further behind. HR leaders need to take stock and decide what role they’ll play and how they’ll deal with the changes.
One part of the problem is that HR is being inundated with data, and the C-suite is asking HR to step up and play a more strategic role. But often those skills are not necessarily in HR’s wheelhouse. More to the point, more data is rarely the answer.
What does the datafication of HR mean to you? What about for your organization? How do you think the role of HR technology has changed to meet the demands of the quantified organization? Which trends in HR technology do you think will have the next most immediate impact on HR practitioners, their organizations, and their employees?
How the datafication of HR fits into the quantified organization is the focus of a new paper from LBi Software in which several observers of the HCM space weigh in on this timely topic. In a nutshell, here are my thoughts on the subject, drawn from the paper’s conclusion:
- The first important thing for HR to have when it comes to using big data is a goal. Yet having a goal for big data — having a project, a hypothesis, a strategic business pain you want to understand more clearly — is probably the most overlooked element when an organization of any size sets out to develop its people data through new technology.
- The second important thing HR needs if it wants to fully leverage big data is the necessary tools to analyze the data from throughout the organization — not just from HR’s people data.
Without those two linchpins, the power of HR technology and its trends for the future will fall short of expectations.
LBi sought insight into what HR leaders ought to be thinking about when it comes to using more-powerful tools for gathering and analyzing data; how HR technology has evolved as part of the growing demand for people data to help drive business decisions; and what HR technology trends will have the most immediate impact in the datafied organization.
We reached out to five engaging and diverse industry thought leaders: