Friday, June 1, 2018

It's Time to Make the People Side of Business Data-Driven and Evidence-Based

Learned a lot lending an editorial hand here:

Boss, June 2018

by David Mallon

deloitte, leadership

These days data is front-page news. It’s use—and misuse—has precipitated a host of corporate crises. In many of these stories, data is being demonized. But data, per se, isn’t bad or good; it’s what people do with it that matters.

We live in an era of digital technology, in which more and more of what we do generates data. A few years ago, IBM estimated that we were creating 2.5 quintillion bytes of data daily, and that something like 90 percent of all the data in the world created in the prior two years alone. The data we generate is collected, analyzed, and served back to us constantly, whether we realize it or not.

Companies and individuals must become masters of data or they may risk being mastered by it. And to master data, companies and individuals need to be mindful. What data will be collected? How can they ensure its accuracy? Who will collect it? Where, when, why, how, and for what purpose will it be used? Where will the data go? Who will have access to it? What privacy and security controls will protect it?

If that seems like a lot of questions, well, it is. We need to be active stewards of our data. We need to actively seek insights from it. We need to use those insights in positive, productive ways that drive organizational and personal value. The headlines tell us that these tasks shouldn’t be left unaddressed—especially when it comes to our people.

The HR Function Needs to Build Data Muscle

One finding rings out clearly in Bersin’s High-Impact People Analytics study: Companies that are proactively building an organizational muscle around people data and analytics are getting ahead.

Some corporate functions, like marketing, are already well along in the data and analytics race. But the typical HR department is not nearly as evolved. Our study revealed that only two percent of companies surveyed have a fully mature (Level Four) people analytics capability; meanwhile 83 percent of companies are operating at Levels One and Two.

The people side of business must become more data-driven and evidence-based. Data can and should inform decisions around performance, people, and talent, if for no other reason than the fact that relying on tradition and prior experience are neither sufficient nor prudent in today’s digital the rest here

No comments: