As the competition for talent continues to heat amid a shrinking workforce in many developed countries, the monitoring of HR policies has become essential. Effective metrics and KPIs can help to flag up areas of trouble, including high turnover and low staff engagement rates to help retain key workers.
According to a recent survey, 71% of the organisations surveyed give HR analytics a large priority. Looking at the current trends and developments in HR, this is not a surprise as HR processes are increasingly optimised and digitalised. Because of this, the role of HR is changing from an administrative and operational function to a more strategic and advisory one. HR professionals consider HR analytics to be a condition to successfully fulfill this new role and provide the organisation with data-driven advice – putting the consulting industry at the heart of HR transformations for most businesses.
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