Leaders of organisations are certain of two things: change will be constant, and demands on resources will grow. Organisations (and HR functions) that are able to see, predict and adapt to change will be the ones to survive.
HR analytics lies exactly within the intersection of this need for insight and the demand for resources. Exactly what is required to lead your HR function and business requires a further stretch of resources.
Here are eight reasons why you should outsource your HR analytics:
1. It’s immediate. You need to understand and integrate your people data now, and you don’t have time to source and build the capability.
2. The technology and software is evolving and changing. You don’t have the time and resource to stay updated and ensure your people keep up with the pace of change.
3. The market for analytics competence is competitive. Analytics skills are scarce and specialists tend to favour other functions.
4. It’s complex. To get real value, you need to be able to integrate and understand data from multiple sources, blending it all into compelling insights.
5. It’s IT-independent. There is no need to compete for IT resource within your organisation, and no need to manage access to highly confidential information within your IT function.
6. You benefit from cross-client learning. In-house resources only experience your environment, while outsourced skill brings experience and solutions from multiple organisations.
7. It’s critical, but not core. As Head of HR, your focus is on developing core HR competencies to attract, retain, develop and motivate talent. Analytics enables this, but is not a core HR skill.
8. It’s cost effective. Your need for HR analytics is periodic, not constant. You may need your analytics monthly and on ad-hoc basis. It’s not effective to staff for constant demand.
You might also be interested in reading my articles about why Analytics will ensure the survival of the Reward function or why so few HR leaders have adopted analytics, or My Three Favourite Talent Visuals.
I’m an accredited Master Reward Specialist with a passion for Business Intelligence, Analytics and the benefits that this combination brings to Reward and Human Resources. Feel free to get in touch with me to talk about this, or to have me talk to your leadership team.