Ongoing and effective construal of data findings underpins the adoption of data in realizing an organization’s objectives. While there have been various management paradigms aimed at optimizing organization performance, the extensive integration of data findings in management have only been possible fairly recently. Technology has been a major driver in the integration of data findings in management. In order for HR practitioners to continue benefitting from data findings vis-à-vis improving employee and therefore organizational performance, innovation is imperative. Typically, managers have relegated new management paradigms because over the brevity of their application, it was possible to improve vital performance metrics such as employee engagement, value creation and so forth (Rasmussen & Ulrich, 2015).
A fundamental mandate of HRM directors is the incisive evaluation and innovative application of data findings to improve HRM outcomes. The identification of points of integration is important in the application of data findings to enhance extant processes. Also important is presenting points of integration in readily understandable formats. For example, one report indicated that most HR departments spent time tracking employee absences as opposed to monitoring metrics such as employee retention and career progression (NGA HR, 2018).
Presently, knowledge is a primary driver of all business sectors, including banking. Awareness of the significance of all data is essential in defining challenges and formulating solutions. Consequently, the ability to correlate data from different departments is important. Until the recent past, departments at various large organizations run in relative isolation. However, the permeation of information technologies in business practices has meant that departments such as sales and human resources now have to collaborate for the organization to remain completive. Equally, data now undergirds managerial decisions, making it essential for managers to liaise with other department heads for improved organization performance outcomes.
Staying ahead of the competition requires the formulation and adoption of novel approaches to utilizing various data findings to realize the organization’s strategy (Burt, 2018). For example, relating employee perceptions to their performance and customer feedback can reveal deficiencies in organization practices that require attention (Schifrin & Shaw, 2017). The people analytics team at the Royal Bank of Canada for instance performed a backward deconstruction of business processes and decision making in order to determine future decision points, and evaluation and technology requirements.
Accelerating the turnaround of data to actionable strategies is crucial to the expedition of desired changes within an organization. Studies show that delays in processing and acting on emerging data reduces the impact of that data can have on improving organizational performance (NGA HR, 2018; Schifrin & Shaw, 2017). Invariably, it is the ability of businesses to deploy data findings and HR practices to build the capacity to adapt to evolving trends that determines the extent to which the SHRM approach is successful (Burt, 2018). A salient characteristic of analytics-driven HR is the necessity of continuous improvement. Innovations in HR related data acquisition are important in enhancing the strategic significance of said data to the decision making process. The analysis of SRHM data extends to more than just HR data. Other data such as customer feedback, sales figures, existing processes, procedures and practices, and feedback from business partners (Schifrin & Shaw, 2017).
Burt, E. (2018) HR professionals failing to gather basic organizational data, new survey
warns. Retrieved from: https://www.peoplemanagement.co.uk/news/articles/hr-failinggather-basic-data
NGA Human Resources (2018) HR data: Great power, great responsibility Retrieved from https://www.hranalytics.org.uk/app/download/15113810/HR+Data+Great+power%2C+great+responsibility.pdf Schifrin, D., & Shaw, K. (2017) Royal Bank of Canada: Using people strategy and analytics
to drive employee performance (A). Retrieved from: https://hbsp.harvard.edu/tu/1ce9d847
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