Monday, July 22, 2013

Human Resource Data

Gordon Gekko said in Wall Street that "the most valuable commodity I know of is information." Well that's as true today as it was 26 years ago when that movie came out. But one place that isn't always true is in Human Resources where data is not always the priority for those that make the decisions. But Josh Bersin of Forbes says that mentality needs to change and that Human Resources should embrace datafication:

Companies are starting to analyze payroll leakage (people who may be on-call for certain duties but are not needed), loss (theft patterns in banking), accident and medical claims patterns (liability insurance rates), sales productivity, and even global leadership and talent mobility patterns. Unfortunately too few HR organizations are doing this, but more and more are talking about it every day.
Bersin says right now that less than 8% of companies actually are mining this data and using it to their advantage. The key going forward for companies that are looking for ways to cut costs and increase productivity is to use this data to make their organizations run more effectively. And it's important to get ahead of the curve as companies start to take up that task.

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