Research presented Wednesday night at the HR Technology® Conference in Chicago suggests employers have a long way to go when it comes to effectively applying workforce analytics to whatever problem or issue they’re trying to solve. The study, conducted by Ventana Research and presented by eThority, will be unveiled in full on Oct. 7 in a live webinar, but the sneak preview indicates a real gap between what most companies view as the value of workforce analytics and what they’re actually getting out of them.
Although the actual number of organizations polled has yet to be released, the indication is that over three-fourths (77 percent) consider the performance of their workforce to be the most important metric, and performance reviews are the most regularly applied type of analytics in half of them.
But when it comes to using workforce analytics effectively, “the research found a number of impediments,” its initial report states — namely, the fact that findings are made completely available to only 19 percent of company executives. What’s more, in 40 percent of organizations, not all the right people are involved in establishing performance indicators. So, in essence, even the statistics being compiled and disseminated are hardly making an impact at all.
“For workforce analytics to benefit an organization, they must be available to the people in a variety of roles and responsibilities who need them,” the report states. “The research found that, in general, the higher the individual’s level in the organization, the more available analytics actually are [generally, they're available to 52 percent of corporate executives, 44 percent of managers and 32 percent of supervisors].”
The report urges all organizations to survey their people “to learn how widely available analytics are at all levels and determine where the organization could benefit from increasing it.”