Speaking at the CIPD ‘HR Analytics’ conference, today, Robert Bolton, head of KPMG’s Global HR Transformation Centre of Excellence, called on the HR profession to help businesses drive growth by focusing on the problems of the future, rather than fretting on the mistakes of the past.
He says: “Too many HR professionals are focused on images in the rear view mirror, intent on justifying their existence by reporting on past events. Learning from experience is, obviously, important, but with the range of quantitative and qualitative information available, HR teams will deliver better value to the Boardroom if they use historical trends to predict future needs.
“Our own research shows that 1 in 3 c-suite executives intend to invest in HR analytics between now and 2015. Yet, if they are to get true value for money, HR teams need to become better at mining information and creating deeper business insights. Essentially, today’s analysts in HR are bogged down with basic workforce metrics; they lack understanding about how to make relevant links to business outcomes and need to become better at joining the HR dots.”
Addressing the audience of HR professionals, Robert outlined 5 groups of data HR teams should use to provide their business with relevant data:
Robert concludes: “We seem to be witnessing a vicious cycle – one which, if it is allowed to continue unbroken, will ensure that Boards will continue to hold HR in low regard. Part of the problem is that much of the available data is fragmented. But, in many cases, HR teams also lack the right skills for complex statistical analysis. If they don’t ask the right questions, how can they provide the right answers to help businesses move forward, develop, and grow?
“It’s a situation which cannot be allowed to continue. The time is now for HR functions to embrace the power of workforce analytics. With the right mind-set and skill set, HR can collect, integrate and interpret large amounts of data and provide predictive insights to business performance.”
Mike Petrook, KPMG Press Office
020 7311 5271 (t), 07917 384 576 (m) or email@example.com
Notes to Editors:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.