Wednesday July 29, 2015
Sally Brand, Purple Cubed Business Development Director, explores the importance of implementing the right technology in order to access the most effective data
The big data trend continues to surge within HR and talent management. In a recent report by Towers Watson, it was highlighted that spend in this area is on the rise for the first time since 2011 and ‘40% of companies are considering SaaS (Software as a Service)-based solutions only…with better functionality as their #1 expected benefit’.
To create competitive advantage, businesses are looking to HR data sources for strategic insight. This includes using internal data to support informed decision making in areas including manpower and, succession planning, predicting employee risk of leaving and opening up ongoing, two-way dialogue as well as using external data from social media platforms and other sources to better understand recruitment and other trends. .
2015 will be a critical year for HR. A recent Deloitte report predicts that now is a “time for creativity, bold leadership, and a fundamental re-imagining of the practices HR leaders have used for years”. The implementation of the right technology, and effective leveraging of this data, will help businesses to deliver their strategies and provide confidence that they have the best people in the right places and at the right time.
From talking to senior leaders and HR professionals on a daily basis myself, it is clear there’s a very real need to use technology to support the employee journey; not only from an analytics perspective to understand effectiveness, and progress at each step of the journey, but to provide a go to hub for the ‘people stuff’ to drive communication and support a contemporary and aspirational place to work.
Organisations employing, or looking to employ more, Millennials are increasingly being expected (and often being asked outright) to implement flexible and engaging talent and career development technology. Today’s employee demands transparency and need to understand how they fit in, can make a difference, developing and achieving their aspirations within expected timescales; more so than any the previous generation.
To deliver on this, leaders must have easy access to a digital real time ‘people balance sheet’ - laborious, out dated, paper based processes are just not going to cut it in today’s fast paced VUCA world.