When considering the depth and breadth of analytics that HR Leaders need to demonstrate business value, 2 key shortcomings of HRIS systems surface:
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HRIS and Talent systems focus on process information, and, as such they deliver basic, siloed reporting. To measure against objectives and demonstrate value to the business, HR Leaders need more – they need insight that comes from the connection of process and outcomes data.
Can your HRIS answer these questions?
- What is the progression rate for our top performers?
- What is the ROI of our new manager training program?
- What is the retention rate of our successors?
- What is the lost revenue / productivity by position for every fill that is not on target?
- What is the quality of hire by Line of Business and Job Category? By Recruiting Source?
- What is the 1st year turnover rate by Line of Business and Job Category?
- How much is this costing the business?
- For every 1% reduction in 1st year turnover what is the $$ impact for the business?
Consider if your HRIS Can Produce Analytics and Reports Like this…
Connecting the Dots
While each individual HR system (HRIS, Talent Mgmt, ATS, Learning, Performance, Surveys, …) has “reporting/analytics” the reality is that these systems provide basic reports on their siloed process. These reports may be sufficient for managing the process (efficiency) but they do not provide the analytics that HR Leaders require to make smarter decisions.
To get to holistic insight and to measure against business outcomes, you need to connect the dots – there needs to be integration across your disparate HR and Talent systems and those systems that hold business results data. This means stretching beyond the transactional HR data and systems and making connections with outcome sources.
This is easier said than done but with an analytics partner this can be made simple.
There are 2 major connections that an analytics provider will make:
- Connecting all your HR data into one, constantly refreshed unified source (a single source of the truth)
- Connecting your HR data to business outcomes data.
