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Five years ago in a Harvard Business Review article on how companies leveraged HR analytics for competitive advantage, my co-authors and I found only a small handful of companies to interview. Today, life is very different. Interest in analytics and storytelling through data in HR is booming. But, HR as a whole is learning how to set up an effective analytics function. That is why I welcome this report. The first 100 days of any effort is critical to success. Analytics is no different.
Lead authors of this report and the people they have interviewed have sat in analytics roles in HR. They’ve learned a lot about what works and what doesn’t. Here’s an opportunity to learn from those who have already undertaken this particular journey.
They know that to succeed in analytics one needs to:
- Focus on business priorities
- Leverage your analytics through storytelling
- Use analytics to help inform decision making, not as a substitute
- Understand that perfect data isn’t required for a successful analysis
- Have a point of view that not only understands the past, but also optimizes the present, and attempts to predict the future
This is the ideal moment to seize the opportunity to make analytics part of HR’s standard practice. Now is the time for bold, forward-thinking HR leaders.