3 reasons why HR leaders should use data and analytics

3 reasons why HR leaders should use data and analytics

Written by Alison Ettridge

Even the most progressive businesses are facing challenges. From new operating models to talent strategy and real estate, organisations have big decisions to make if they are to thrive in the future.

On the 8th of July, I’ll be joining Alan Walker of #ChatTalent and a group of panellists for a conversation about how to use data to face these challenges with confidence. Focusing on how to bring in external people analytics to complement internal insight. 

Although most of us have been doing people analytics for a long time now, the true power of analytics lies in tying internal trends with external intelligence.

Let’s take a look at three examples that I think will resonate with HR leaders. 

1. Using data to improve the skills supply chain.

Changing business models have led to a change in the types of skills that organisations need. Now, more than ever, businesses need to transform rapidly. Yet their approach to talent is causing disruption to the supply of skills that a business needs to deliver on its strategy.

Data from a talent intelligence platform like Stratigens provides you with global visibility on the supply and demand for skills. Helping you see where an untapped talent pool exists. While enabling you to understand talent supply, location, and competition.

HR leaders can use external data to mitigate against attrition. Allow for demographic shifts. And evolve through people as their business models change. But this is an ever-moving story, and so leaders need to keep their fingers on the pulse of the macro environment.

2. Using data to inform diversity strategy.

Although the business case for diversity is well documented, companies are still failing on diversity and inclusion. In other words, the lack of data insight means companies are setting targets yet failing to access diverse skills pools.

Insight from talent intelligence data can present a picture that breaks down talent pools by skill, ethnicity and age based on the skills you need. As well as enabling you to benchmark against your internal populations.

Knowing where the pockets of diverse talent are, both in terms of location and skill, means HR leaders can use diversity data to make strategic resourcing decisions. Understand where the diversity dial can be turned quickly. And where a longer-term strategy is needed.

3. Using data to inform location decisions and real estate strategy. 

People are re-thinking where and how they work. At the same time, skills are becoming available in new places and will be accessed in new ways.

These trends towards hybrid and remote work have far-reaching implications on our workforce and our real estate approach. 

Whether growing their real estate footprint, entering new markets or consolidating, leaders need to understand the infrastructure to support working differently. Above all, understanding the key social, economic, and geographic factors of a workplace location is fundamental to delivering long term business success.

Talent intelligence data enables you to view location data alongside workforce data. For instance, the market intensity, the cost of office space, infrastructure and internet speeds. But also commuter times, the availability of co-working spaces and how innovative a place is.

In other words, by using strategic talent intelligence data, HR leaders can shape their workspaces around the needs of the talent pool. Creating the optimal mix of remote, hybrid, and office-based working.

Join us for the conversation for more on this topic! Hope to see you there!

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