San Ramon, Calif. – November 20, 2013 – Ventana Research today released the findings of its most recent benchmark research, on Human Capital Analytics. The research assessed the state of advancement of analytics technology applied to an organization's human capital. It examined priorities, deployments and best practices in the use of human capital analytics across a range of processes including recruitment, onboarding and compensation, performance assessments, employee engagement and retention, workforce planning and labor forecasting, succession planning and regulatory compliance.
Human capital analytics is essential for the optimal performance of an organization’s human resources processes; their use can increase the effectiveness of talent management and workforce management processes. The research makes clear that organizations realize this: Two-thirds of those participating in the research consider human capital analytics important or very important. In particular, participants said human capital analytics is critical for talent management (management of salaried talent, 74%), the management of core HR processes (54%) and workforce management (management of the hourly workforce, 52%).
The benefits of using human capital analytics include improving workforce efficiency and productivity, which is the case for three in five organizations, and being able to engage and retain more of the workforce (52%). It is noteworthy, though, that most organizations (51%) are not satisfied with the processes they currently use to create human capital analytics. In addition, even more (63%) are dissatisfied that data for the analytics is not really available. Complicating the situation is the use of spreadsheets: 68 percent of organizations use them universally for human capital analytics, but a majority (59%) acknowledge that using them makes it difficult to create timely, accurate human capital analytics.
“This research makes clear that organizations have not yet invested in the skills, processes and technology needed to properly use and apply human capital analytics,” said Stephan Millard, VP and research director of Ventana Research. “Competitively this is a problem, as it is essential to be able to recruit, engage and retain workers at any level of the organization. In light of these findings, which make clear and quantify the extent to which organizations are still using methods that are not designed for human capital analytics and that do not support mobile access and ready collaboration, we advise HR organizations to completely rethink their current methods and processes for human capital analytics.”
To learn more about human capital analytics, please visit: www.ventanaresearch.com/humancapitalanalytics. Ventana Research, a leading business technology research and advisory services firm, provides access to a free copy of the executive summary of the research report that summarizes key findings from the human capital analytics benchmark research. This research was sponsored by Visier to help further the education on human capital analytics in the market.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn and Google+.
To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
Media: Copies of benchmark research report and interviews are available upon request.