HR Professionals Magazine July 2016

 

July 2016 Issue Highlights

In the Spotlight: Claire Shapiro, SHRM-SCP, SPHR, CCP, Chief Human Resources Officer for Rhodes College

 

 

 Topics

HRCI_June2016

breaking news

SHRM Foundation Releases Report on Increased Use of Workforce Analytics

(WASHINGTON, June 21, 2016) — The use and influence of workforce analytics, also known as “big data” is experiencing a transformative revolution. Its growing impact on the future composition of the workforce, HR and talent management, and overall business strategy will be inevitable during the next five to 10 years. New research from The Economist Intelligence Unit (EIU), sponsored by the SHRM Foundation and IBM, identifies key trends affecting the global workforce and work culture, along with challenges facing senior business leaders and HR management professionals.
The report, Use of Workforce Analytics for Competitive Advantage, was released yesterday at the SHRM 2016 Annual Conference & Exposition being held in Washington, D.C. Key findings include:
• Investment in workforce analytics is on the rise. Research conducted by the EIU suggests that the overwhelming majority of organizations will either begin using or increase their use of big data in HR over the coming years.
• The HR function is adapting to a more data-driven world, leading to the establishment of specialist teams and the recruitment of data-oriented personnel. HR professionals of the future will need to possess a combination of two skills — a head for analytics and the ability to present findings in a manner convincing to senior executives.
• Companies including 3M, Lowe’s, Google, Sysco and Nordstrom have remained competitive because of their ability to use data and analytics to better understand their workforce, maximize productivity and improve overall business performance.
• The sphere of predictive analytics (using data to identify the likelihood of future outcomes based on historical information) will likely attract increasing attention over the coming years. Two areas in particular where predictive analytics are being leveraged are employee retention and recruitment.
• From identifying workforce skills shortages to ethics and data privacy issues, many challenges still loom around the successful use and implementation of workforce analytics. The move to data-based decision-making might result in leadership obstacles, with some executives seeing the increased use of evidence as a direct contradiction to their personal judgment.
“Workforce analytics is transforming human capital strategy,” said Mark Schmit, executive director of the SHRM Foundation. “This new report can help HR and business leaders prepare for the future and leverage the power of analytics to generate important business insights.” Read more >

                                

HR Professionals Magazine is an exciting monthly trade publication designed to educate and inform HR professionals in every discipline of the Human Resources function. We cover current hot topics on employment law, staffing and recruiting, compensation and benefits, employee relations, diversity, ethics, business leadership, relocation, employee training and development, payroll, and HR technology. Employment law will not only focus on federal legislation, but also on state and local regulations for Tennessee, Georgia, Kentucky, Arkansas, and Mississippi.  Articles are detailed and comprehensive written by local HR specialists, educators, and attorneys who are highly regarded as experts in their respective fields.


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