We continue exploring the pieces that need to be in place in and around HR analytics in order to be successful. Last week we looked at the building blocks of an HR culture where analytics can thrive. This week, we delve into the competencies that need to accompany this. We look at what is required beyond HR transactional skills and the analytics skills themselves- i.e. the business acumen needed.
Your HR Competencies
Here are some of the key competencies which are important for HR to bring to the table:
- Understand Line of Business (LoB) operational and strategic plans, financials, objectives & KPIs
- Understand LoB strengths, weaknesses, opportunities & threats
- Understand any LoB headcount and people plans that may be in place (short, medium & long term)
- Understand the pulse of the LoB when it comes to engagement, culture, and organizational health
- Understand the facts related to commonplace/ operational HR metrics and analytics, and assisting in identifying and managing people risk such as:
- key and vulnerable employee turnover, turnover exceeding acceptable thresholds, retirement and succession planning, development opportunities and progression, compa- and market-ratios, business impacts of not hitting headcount plans, business impacts of low productivity, etc.
- Contribute to, design, and implement people programs and capabilities
- Assist in driving increased productivity from a people perspective
- Acquire, develop, and retain talent
Don’t Feel Bad!
This list isn’t meant to be intimidating - it would be very rare to find an individual or an HR group who brought all of these skills and competencies together - so consider this list to be aspirational and ambitious!
Perhaps you can take this list, and assess your current proficiency and the proficiency you would like HR to be operating at. Work from here.
Remember, in the end it’s not enough to put an analytics person in place or get a single project off the ground. To be successful (and have sustained success) you need to build the right culture and accompanying competencies to ensure your analytics investment delivers value.