Future of Work and HR Analytics
The fourth
Industrial revolution is disrupting the business ecosystem greatly. It's
different from the prior three industries that civilization has observed so far
- Steam, Electric, and Information Technology. The present disruption is a
blend of the digital, physical, and biosphere worlds and agnostic to geography,
size, and industry. Companies are required to change or respond proactively to
stay fit for the future or risk getting close to disappearance.
In the time of
such disruptions and complexities, businesses need to be constant learners and
active to technological advances in order to thrive. Artificial Intelligence,
digital technologies, and the capability to shine on data assets will be
integral to the future of business. Data assets are becoming instrumental in
making informed and fair decisions to respond to the fast-changing corporate
world. This radical shift will not be conceivable without the Human Resources
function evolving into a new avatar that takes a vigorous role in developing
the future organization.
HR Analytics is
no longer a nice-to-have skill for HR. Competence and proficiency in using
people data and deriving insights from it, telling the stories to affect
decisions is an indispensable part of an HR professional’s job accountabilities.
The business influence from the application of HR Analytics and the maturity
level of the function i.e. diagnostic, descriptive, predictive, and
prescriptive, are extremely correlated. While this model tells the competence
maturity of the HR Analytics function, it misses giving insights about adoption
maturity at the company level. The future HR organization will be a digital
disrupter with employee experience at the center, an active & networked
organization creator, and an HR analytics evangelist to allow business to
flourish during the time of transformation in the future.
The
below-presented maturity model helps businesses build HR Analytics DNA at the
enterprise level and leverage this ability to their competitive advantage.
HR Analytics
Level 1 [Tribal] – An
unstandardized capability with substantial variations driven by a department.
Typically, the strategy is disconnected; contrasting measurement procedures and
technology design is very tribal. The KPIs measured are manual.
Level 2 [Regimental] –
Well-defined, repeatable HR measurements within company processes, and
technological boundaries. Best practices are generally limited to the regiment
and not shared at the corporate level.
Level 3 [Harmonized] - An
incorporated corporate level ability of all regimental skills. Senior
leadership support is in existence, and the agenda for HR Analytics is aligned
with the CHRO’s aim. Best practices are leveraged. A corporate-level impact is
observed from the application of HR Analytics.
Level 4 [Agile Adopters] -
Evolved people, procedure, and technology across the enterprise - ability to
meet or surpass current and future necessities; fast followers as the industry
renovates.
Level 5 [Market Disruptors] - Drives standards and expectations - C-suite driven; Globally
integrated; Predictive; real-time metrics; Ability to define industry;
transform business models.
While shifting
through the levels, businesses are required to focus on four key elements,
i.e., People, Process, Technology, and culture. The HR Analytics design should
capture the plan to build capabilities required to pivot from the present
maturity level to the Market Disruptors (Innovation Leaders). To bring this
cultural change, senior leadership sponsorship and recurrent strategic
communication are critical to the success.
HR Analytics Program from a quality institution can help you
accelerate your journey in this extremely promising field of HR Analytics. They
have right resources and faculty to facilitate students’ learning.
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