Consider this ‐ You are the CHRO of a midsized company. Your company has been going through a profitability slump and it has been quite difficult to attract or retain top talent. Attrition is at an all-time high and competition is making the best use of honed talent from your company. You have presented all the figures backing this to the CEO but he is busy firefighting with the CFO. What more could you do to rectify this pressing problem?

The statistics are there but the intelligence is lacking. The big data has provided tactical data points to take HR decisions but is there enough intelligence to take business and strategy decisions

Let's try again.

As the CHRO, you have the latest HRMS installed which not only records data points but centrally captures data insights on the cloud, frees up your team's time to value add and keeps the eye on the ball when it comes to tactical HR pre-requisites all by itself.

Now, armed with this new “intelligent” data you head to the CEO and make your case. Not only does he listen, but to him, HR has elevated itself instantaneously as a “business partner” rather than a mere “function”.

Today, though late to the digital game, HR is undergoing a transformation that is being felt across the business spectrum. Recently, IBM revamped its complete HR function to be more intuitive, agile, employee oriented and data & cloud driven rather than the traditional age‐old paper approach it had for years. The result ‐ IBM HR delivered up to $107 million in net benefits in 2018. It all starts with a singular step ‐ The decision to take HR from a function to a business intelligence unit.

Largely, the HR community feels the pressing need for HR analytics to be implemented, yet few are doing it. The need gap exists due to a large amount of funding that may be required to actually operate an HR BI unit as well as trained staff to read the data accurately.

However, the importance of aggregating HR intelligence cannot be undermined. Technology companies such as Microsoft, SAP, Nestwell have software which makes it all look easy and can be plug and play. The immense benefits that this could provide is being seen manifold in the companies that have digitally transformed their HR processes.

Automating the entire process of HR from attendance to payroll, leave management to on-field tracking, these HR solutions can revamp your complete HR suite of services. HR can now shift from being a functional support system to a centrally located business & strategic partner system.

With the advent of automation and all data being captured directly on the cloud, the HR partner can manage the HR‐employee database remotely and access/upgrade it whenever required. The new HR automated cloud systems not only maintain the company's bottom line but also provide a unique employee value proposition as a desirable, flexible, valuable career employer.

All that is required now is for HR to take the leap into reskilling its fraternity to provide robust “intelligence” insights from this vast collection of big data that is being collected.

Reams of data points intelligently presented on a personalized dashboard not only provides timely alerts but prescriptive techniques to circumvent people issues. Issues that used to be managed with the support of HR intuition along with a pen, paper, and registers to boot. With all data on the cloud, direct analysis can be uploaded onto the dashboards providing leadership, senior and mid-level, employee-centric solutions.

The benefits are many yet the first step is to be taken by quite a few. Traditionalistic in its approach, HR has always been a slow behemoth in any organization. However, in today's world, digital disruption is fast catching up with many.

CHROs' and leaders have a vast opportunity to create and maintain a talented workforce. Assessing their current HR scope, aligning with employee's requirements and test, test, test till they get it right ‐ should be the three-way mantra for them.

Connecting people and possibilities via technology, HR needs to empower and embrace the new age of work and employees and be absolutely future ready.

References:

1. https://sloanreview.mit.edu/case-study/rebooting-work-for-a-digital-era/
2. https://www.hrexchangenetwork.com/hr-talent-management/columns/making-hr-a-true-business-partner-demonstrating
3. https://www.researchgate.net/figure/Figure-4-Data-Driven-Decision-Making-in-HR_fig2_323118812 (Image)