Almost half of UK businesses are failing to use valuable insights from analytics in their HR operations, according to new research.
A YouGov survey of 500 HR leaders, commissioned by MHR Analytics, found that 44 percent do not have a main focus on HR analytics – technology that uses people data to solve business problems.
The survey found 40 percent of respondents state they use analytics for regular operational reporting; 29 percent use it for financial workforce planning; 23 percent improving the accuracy and simplicity of reporting; and 14 percent to predict employee retention, compliance and workforce growth.
When asked what was preventing HR teams from delivering analytics, 35 percent said it was not having the right knowledge or skills within HR. Almost a third (30 percent) said the biggest barrier was the lack of quality of data currently collected in the business.
Dr Max Blumberg, founder of the people analytics think tank, the Blumberg Partnership, said many UK businesses are failing to equip HR professionals with the analytics tools they need for high quality people and process management.
He also said this is at a time when analytics can play a vital role in managing salaries, payroll and performance measurement, investing in technologies like this can help companies gain the competitive advantage.