Corner Office Analytics
After all the effort spent to consolidate their workforce data, many CHROs now enjoy ready access to a wealth of information. Many now use that information to generate reports more quickly and efficiently. But that’s just scratching the surface—and much of this data remains untapped, pushing analytics to the forefront.
After all the effort spent to consolidate their workforce data, many CHROs now enjoy ready access to a wealth of information. To date, many have used that information to generate reports more quickly and efficiently. But that’s just scratching the surface of what can be done with this massive pile of data. Workforce analytics is a topic frequently invoked in discussions of how to get more value from all this data, but fad-weary CHROs want to know what analytics will really deliver. How much impact can they expect to see? Where does it make sense to start? How should they collaborate with the rest of the executive team? Those who can find answers to these questions can have an even bigger impact on the strategic direction of the business—at a moment when HR is finally sitting at the strategy table.
What’s at stake
The workforce is the lifeblood of any organization—so when it’s operating at a high level, the likelihood of reaching key business goals is raised considerably. In the past, many HR leaders had a difficult time making the case for their roles in guiding business strategy. But equipped with data-based insights from workforce analytics, these leaders are able to more clearly demonstrate value—and drive real changes in behavior.
Analytics connections with other roles
- CEO | Focusing on having the necessary talent to execute on core business strategies. For many, talent is at or near the top of the agenda.
- CIO | Coordinating workforce needs with large ERP implementations and other major commercial software implementations.
- CFO | Driving more productivity and value while managing labor costs. Looking for overspend and managing workforce supply versus overtime/regular-time costs.
Crunchy questions for CHROs
In our experience, many workforce analytics initiatives are a joint undertaking led by both the CHRO and operational/business unit leaders. Those leaders often have very specific questions they need to answer, presenting a great opportunity for the CHRO to identify similarities across business units, push to identify even more focused questions, and drive more value from analytics investments.
Learn more about CHRO Analytics and crunchy questions that CHRO's should be answering today with analytics.