Are You Measuring the Value of Your Talent Management? Companies Gain Traction with Talent Metrics that Matter

corporate decisions, Data analysis, HR compliance, Linda Pophal, Marketing, measurement efforts, Pr, Public relations, strategic communications, Talent management, talent measurement, talent metrics, XpertHRData matters in just about every corporate decision these days, and that includes talent management. In an increasingly service-based economy, the cost of human resources is often the first item on any organization’s balance sheet. It’s a cost that, ideally, is offset through the productive contributions of an organization’s employees. But, far too often, the value of these contributions is never known. Why? Because the cost/benefit of talent management is rarely measured, according to a recently released white paper from HR compliance consultants XpertHR.

However, measurement efforts are on the upswing, according to XpertHR’s white paper author Linda Pophal, owner of Strategic Communications. Her research shows many companies have already invested in or are planning to invest in big data over the next two years.

“While the focus of their data efforts tends to be primarily related to customer experience, organizations are targeting streamlining processes, marketing more effectively, reducing costs and enhancing security capabilities,” Pophal said, according to a news release.

Pophal’s research also points out the need to focus on predictive analytics for workforce analysis. In a recent survey by Deloitte, she notes, only 4 percent of respondents investing in “big data” indicated use of predictive analytics.

Indeed, a central part of the report points to how data can and should be used. “Companies need to do more than identify metrics,” Pophal says. “When a metric goes ‘red’, organizations need people in place who are assigned to ensure the health of the metrics and be ready to turn those metrics around.”

Whether companies are measuring speed of acquiring talent, retention of talent, cost of the work, job acceptance rate or any other HR-related metrics, HR executives play a key role in examining the data, Pophal said. She recommends the following actions:

  • Quickly address data and insights for C-suite leaders.
  • Ensure that return on investment is central and woven into any dashboards or presentations.
  • Use benchmarks and industry comparisons to frame results annually or quarterly and answer questions in advance for busy executives.

While use of “big data” may not be intuitive for all HR professionals, it’s time to get comfortable with it, Pophal recommends. “By using data wisely and staying alert for situations that may turn metrics ‘red,’ HR departments will become even more valuable to their organizations.”

Download the white paper here.

Source: PR Newswire; edited by Richard Carufel

We've updated our Privacy Policy. Read the updated policy →

PR Biz Update PR Agency News PR People Marketing Trends
Modern business workplace with stock market data application , Pen and a digital tablet, on a wood table.
How to Become a Big Data Analyst: Higher Visibility Research Examines Importance of Analysis—and How You Can Become a Master

By definition, data and information are two very different things. Data...

Group of cheerful young people discussing something with smile and gesturing while leaning to the table in office
State of Workplace Communications: Companies Struggle to Reach Employees in Today’s Disconnected, Widely Distributed Workforce

Company communications platform Dynamic Signal recently released The State of Workplace...

The businessman is in correspondence in the chat.
Is Voice Technology the New SEO? Research Shows Tool Drives Greater Emotional Connection with Brands

Brands Must Tap Consumers’ Desire for Intimate Relationships with Voice Assistants According...

Thought Leaders On Deadline
Emma Rennell
Global PR: China’s Top Tech Media Weigh In on Opportunities in the Technology Sector

By Emma Rennell, Senior Account Executive, Racepoint Global The past several...

Hanna Fritzinger
Taking Advantage of Micro-Moments with Affiliate Marketing

By Hanna Fritzinger, Head of Marketing, VigLink Moment marketing is nothing...

Larry Alton
Life After Social: Study Proves Brand Building Must Happen Outside of Facebook

By Larry Alton, Freelance Writer As a marketing professional, it’s easy to...