Understand your data and create a measurement plan to prove your team's ROI
As an HR leader, to gain the attention and respect of your organisation and your deserved place at the boardroom table, you need to be able to demonstrate strategic value.
For too long the HR department has been considered a cost centre. But with smarter ways of working and new technologies making it easier than ever to interpret and report on HR activity, there’s now no reason why the HR function can’t be seen as a valued strategic business partner.
Often, the challenge of introducing HR measurement lies in knowing where to start and what data to prioritise.
This e-book will help you answer six key questions:
- What data do you have access to? - Get to know the data you have access to and understand what it reveals. Check for patterns. Over the last few years, for example, has turnover been stable, increasing or decreasing? And consider other measurements, sources, or tools that could help you understand shifts. In the case of turnover, it could be market or industry trends that are having an impact, management (dis)satisfaction, uncompetitive wages or any number of other influences.
- What data matters? - Once you know the data you have access to and you’re aligned with the goals of the business, you understand what’s adding value at the moment and where there are gaps — you are well positioned to take a critical look at your data and the metrics you should be focused on to further HR’s worth.
- Who are your “measurement and analytics” allies in your business? - Call on other departments for their insights and advice. Finance and marketing teams, for example, will be able to offer valuable guidance in both data handling and digital transformation.
- How does your data support decision-making for business growth? - Data that illustrates what HR does is a starting point, but what really matters is the analytics of the impact HR has made on business success. Know where your organisation is headed and steer your metrics in a direction that will bolster and support that route
- Are there any information gaps? - Is the data you are recording and the way you are reporting doing enough to demonstrate the impact of the HR function? Are there any gaps between what you are sharing and what the business needs to know? Discern what other metrics would be beneficial and use these insights to work out not only how you should be presenting the data you do have, but also what data you are currently missing altogether.
- How can HR technology help? - Technology is changing the way we work. The whole world of tech-driven people analytics — being able to collect measurements, crunch data and measure impact quickly and effectively — is huge.
Enter your details below to download this free e-book to gain more information on Strategic HR Measurement.