With an emphasis on cutting operating costs, HR departments are increasingly being asked to demonstrate their own value and how investing in the workforce drives revenue and influences the top and bottom line. Driving the trend for human capital measurement are several factors:
The need for foresight – moving from reactive to proactive
Falling technology and data costs; new models and tools
By taking a more strategic approach to decision making and using advanced analytics to turn HR data into actionable business intelligence, companies can leverage their existing ERP systems, data warehouses, and smaller-scale HR point solutions for critical insights into the workforce.
These insights, in turn can help guide decisions that are critical as the business confronts a range of issues. We believe this capability is not a “nice to have” – it’s a “must have” going forward.
Download the full article . . . . Using advanced analytics to turn HR data into actionable business intelligence
This article was prepared by Hein Nienaber (Associate Director – Human Capital) and Candice Silverstone (Workforce Analytics Lead) at Deloitte Consulting Southern Africa. For a more detailed discussion, contact Hein at firstname.lastname@example.org and Candice at email@example.com
We welcome you to visit the Deloitte Southern Africa Human Capital website to learn more about how we add value to our clients