Start your HR analytics journey with a new self-assessment tool

“What are your HR business objectives?” Ever pondered over varied answers for this question? From operational ones, like increasing employee retention or decreasing attrition, to more strategic ones like measuring the outcome of Diversity and Inclusion (D&I) programs or your organization-wide listening strategy, the answers are varied but with a common thread – data and analytics.

We live in the era of technology where data and analytics are not only critical success factors of innovation for an organization but also a key competitive edge. And indeed, according to data industry expert and thought leader Bernard Marr, the International Institute for Analytics predicted that “by 2020, businesses using data would see $430 billion in productivity benefits over competitors who are not using data.” And we are well on our way to 2023, when being analytics-driven will no longer be a nice-to-have requirement but instead will be a surefire need-to-have requirement to achieve the analytics mastery that ultimately drives innovation.

However, it's always good to walk before you run.

Implementing analytics shouldn’t happen by accident or through haphazard decisions. It’s a mindset, a continuous journey which you need to navigate carefully with forethought to find the right answers. Which begs the question – how do you get started on your HR analytics journey? To start, you'll want to answer these fundamental questions:

1. What do you have right now? What is your HCM system of record? How do you use your data? An as-is analysis of your current analytics tools, resources, and processes serves as the foundational springboard for the next step.
2. What do you need? Positive business outcomes – for both the operational and strategic examples described above – stemming from acquiring, retaining, and growing your workforce.
3. How do you get there? Identify the gap between #1 and 2, followed by identifying key performance indicators (KPIs) to gain insights about how to optimize those tools, resources and processes to achieve said business outcomes. 

Introducing the HR analytics self-assessment from Oracle, a role-based scoring tool that can help you evaluate your current HR analytics or people analytics strategy and provide resource-supplemented results.

The scoring is done along six functional areas aligned to the role you choose. For instance, the areas that are evaluated for a CHRO/HR Leader are Automated HR Processes, Top Talent Assessment, D&I Analytics, Cloud Adoption, Cross Departmental (initiatives) and Team Effectiveness, while those for say, a HR Analyst, would be along the lines of Attrition and Retention, Predictive Analytics, Forecasting Labor Availability, Top Talent Assessment, Data Preparation, and External Data.

Upon completing the questionnaire, you're provided with a snapshot of functional areas that are on track with an analytics-driven roadmap versus those that have scope for improvement.

The results report, which can be shared as a link with your stakeholders, not only discloses the overall score for HR analytics in your organization but also points to key resources for each functional area that you can download and share to help improve the use of your HR data and bridge the analytics gap.

How to use the HR analytics self-assessment tool

1. Navigate to the self-assessment link and select the role from the drop-down list that best describes your function in the organization.
2. Answer the questionnaire to the best of your capabilities. You can click the Restart button if you need to start over.
3. Once you complete the questionnaire, you're presented with a snapshot of how your business is doing.
4. Click the View my score button for detailed results.
5. View your overall score along with an interactive map that you can navigate to highlight each of the functional areas on which you are scored along with related informational Oracle assets and resources.

How to read your results

Your overall HR analytics score is a reflection of where your organization stands in the overall analytics journey. Do you currently exemplify an analytics-driven culture? Do you have the tools, processes and most importantly, the mindset in place to achieve analytics mastery? Are you reaping the benefits of cross-departmental analytics to acquire, grow, and retain talent within your organization? The higher the score, the more analytics-driven your organization is! You can use the resources listed in the results report to further develop those functional areas that have opportunities for improvement, or better, as justification that you’ve been doing the right thing all along! 

If you're keen to start or to improve your analytics journey, take the HR analytics self-assessment today.

For more information on how you can benefit from Oracle Analytics, visit Oracle.com/analytics, and follow us on Twitter @OracleAnalytics