It’s no secret that the most important resource in a company is its people. And while a great deal of HR Leaders spend much of their time and effort on this, the job is also increasingly relying on data and its management, because data underpins any decision that needs to be made to meet business objectives and to unlock people’s potential.
People and data are now intertwined. In the same way HR managers and team leaders must understand people dynamics, they must also understand how to manage data securely and effectively. If not, they run the risk of falling behind in the market.
The reason for this being that an organisation’s employees are at the heart of everything an organisation does. But the amount of data they generate is forever growing. It’s this sheer volume of data that is the challenge you’re facing.
Some organisations are better equipped to deal with this data than others, whether it be data management, storage or the understanding of the insights it can generate.
It starts with getting the data in order and having the confidence to manage it effectively. When that amount of data is only growing, it’s an imperative part of the puzzle - 26% of HR leaders say data will be less manageable in three years’ time. Are you and the rest of your HR department still using manual processes to handle your data? Or have you exploited autonomous technology and methods to do this?
How accountable are you for the data you use? 51% of HR decision makers from data leader organisations say they’re ultimately in charge for securing the data they deal with. Only 16% from data laggard organisations say the same. Taking more accountability gives you the building blocks for good data management practices. Training and education will empower employees with the confidence they need to deal with the data they use on a daily basis.
Finally, what use is this data to you and your HR department if you aren’t able to generate meaningful insights from it? HR data leaders are 8 times more likely to be confident in generating meaningful insights from their data than laggards. It allows you to evolve how you drive your data so that your data can drive your business.
Ultimately the data you and the rest of the HR department deals with every day is the inspiration behind what you do. It motivates cultural change within your organisation and helps to back up vital business decisions which affect your employees. It could be a decision about applying new best practices to encourage collaboration between teams and improve their efficiency It could be a decision about adopting technology to help encourage productivity. Or most importantly, it could be a decision about implementing the support networks and other benefits to promote their wellbeing.
The difference between succeeding with data management versus not could be paramount. Success can mean focusing more time on what actually matters when it comes to your employees, not just dealing with their data.
It’s time to act on this now, but where do you start?
Finding out where your HR department sits on the data management maturity scale is the first port of call. You need to understand what position you’re in before you can improve further.
Our research has allowed us to pull together a tool to help you discover where your organisation is right now on the data management maturity scale. Is it leading the pack, or does it fall behind? Either way, Oracle can help.
So, take our data management diagnosis test now and find out what you and your department can do to exploit your data management capabilities for the good of your business…