5 TRUTHS ABOUT YOUR HRMS REVEALED...HR Joins the Analytics Revolution, Harvard Business Review Analytics Service “More than 40% of all companies are embarking on a replacement of

How to Drive Forwardwith HR Analytics andMake an Impact

5 TRUTHS ABOUT YOUR HRMS REVEALED

How to Drive Forward with HR Analytics and Make an Impact 2

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It’s Time to Press the Accelerator on Your HR Analytics Journey

“A growing number of corporate boards, CEOs, and CHROs understand that by applying data-driven solutions to improve decisions about talent, they can improve revenues and profits.”

HR Joins the Analytics Revolution, Harvard Business Review Analytics Service

“More than 40% of all companies are embarking on a replacement of core HR technology with modern cloud systems [over the next two years].”

Deloitte Human Capital Trends 2016



Your HRMS Hinders Data-Driven Decision Making

Don’t mistake the analytics that come with your HRMS as good enough. As a transactional system, the analytical benefits HRMSvendors can provide are restricted in many ways.

Before you dive any deeper into your HRMS project, it’s important to know what it will take to get true workforce analytics from this core system.

The following are a few truths about HRMS “analytics.”

THE ANSWERS TO STRATEGIC BUSINESS AND WORKFORCEQUESTIONS DON’T LIVE IN TRANSACTIONAL HR SYSTEMS.



Truth #1: Your HRMSIs An Isolated System



Truth #1: Your HRMS Is AnIsolated System

Your HRMS has no direct connection to data contained within other systems, such as your Applicant Tracking or Performance Management systems.

Meaning, any analysis your HRMS performs will be derived from a limited set of data – giving you an incomplete picture. Insight comes from seeing the connections: between engage-ment and absence, turnover and talent. Impact comes from con-necting the past to predictions about the future and aligning on the right plan of action.

Example: Low engagement scores are a good indicator of future turnover, but because engagement data is in a different system, your HRMS can’t easily look at both points and let you know if there’s a correlation between them.

HRMS

Engagement

Onboarding

TalentManagement

Payroll

ApplicantTracking

Compensation& Benefits

$

PerformanceManagement

LearningManagement

Customers

Financials

Sales

Safety

SupplyChain

Operations



Truth #2: Integrating Multiple Data Sources Into Your HRMS Is Costly and Complex



Truth #2: Integrating Multiple Data Sources Into Your HRMS Is Costly and Complex

To bring workforce data from other systems into your HRMS, you first need to collect and standardize it. This requires a data integration or data warehousing project that typically will come with a six or seven-figure price tag.

Furthermore, external consultants from your HRMS vendor or a third party are needed to work with your data and stakeholders – adding to the length and cost of your BI project.



Truth #3: Your HRMS Can’t DoReal Analytics



Truth #3: Your HRMS Can’t Do Real AnalyticsBy design, an HRMS is a transactional system that’s built to make administrative HR tasks easier. This means any embedded analytics are simply an afterthought – not a core, strategic capability.

YOUR HRMS LACKS... WHICH MEANS IT CAN’T... WHICH MEANS HR CAN’T...

A multi-dimensional analysis system Look at multiple attributes of data at the same time and provide accurate insights.

Drill into the specifics of things like turnover, ab-sence, and promotion, and identify insights that lead to improvements.

Predictive analytics Calculate and correlate all the available data in the employee lifecycle to make reliable predic-tions.

Get ahead of people-related issues and act to re-duce resignations before they happen or ensure the right people are prepared for promotion op-portunities. Also can’t prepare for the future and budget accordingly.

Modern analytics technology such as in-memory processing

Quickly construct queries and insights from your data (i.e. weeks instead of seconds).

Make decisions at the same pace as the rest of the business. Without instant insights there is no abili-ty to engage with key strategic business decisions.

Full ad-hoc capabilities Explore the data related to any workforce ques-tion that comes up.

Provide the level of data-driven guidance that the CEO expects.

Workforce planning technology Seamlessly connect workforce data to workforce planning scenarios and models.

Optimize overall workforce costs to meet the productivity demands of the organization and save money through more detailed and accurate forecasting.



Truth #4: Your HRMS Can’t ConnectTo Business Outcomes



Truth #4: Your HRMS Can’t Connect To Business Outcomes

No HRMS can directly connect workforce decisions with busi-ness results without a costly data warehouse, manual effort, coding, and/or hiring external consultants – and the costs add up, and up, and up.

Without this ability, your HR team can’t confidently answerimportant questions such as:

• In retail: Do stores where employees have longer tenure report higher sales?

• In manufacturing: How does training spend relate to defect rate?

• In healthcare: What workforce drivers are linked to higher patient satisfaction?

• In financial services: Is the amount of variable compensation linked to the number of new insurance policies written?

• In technology: How does time in position relate to the first-call resolution rate of support calls?



Truth #5: Bringing In Historical And Future Data Won’t Be Free



Truth #5: Bringing In Historical And Future Data Won’t Be Free

HRMS vendors typically don’t include historical workforce data in new implementations, which limits your ability to perform predictive analytics—for example, if you want to calculate which employees have the highest exit risk.

To work around that limitation, you can either wait 12 to 24 months to build up a data set that’s big enough for accurate predictions or pay for the cost of adding historical data—a proj-ect that can run in the six figures for just a year of data.

In addition, every time you need to add a new field, metric or data source, or if your organization structure changes, you’ll need to pay.



The Right Way to Drive Forward With HR Analytics





The Right Way to Drive ForwardWith HR Analytics

For HR to succeed, analytics needs to be a priority. Don’t wait for your HRMS project to complete before implementing the right analytics solution. A leading workforce intelligence solution will be up and running with your data within weeks, and will help you measure the effectiveness and ROI of your new HRMS.



Visier WorkforceIntelligenceVisier Workforce Intelligence delivers accurate, real-time insights at a fraction of the cost and time of HRMS/data warehouseprojects, with no dependency on technical skill.

Visier connects all your workforce data, past and present, from all your systems, enabling insights and predictions otherwise not possible. Better yet, Visier is delivered as a cloud solution that is up and running in 8 weeks.

Designed for HR and business users, Visier enables true work-force intelligence by connecting all your workforce data with business results to uncover strategic insights, enable data-driven decision making, and measure outcomes.

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5 TRUTHS ABOUT YOUR HRMS REVEALED...HR Joins the Analytics Revolution, Harvard Business Review Analytics Service “More than 40% of all companies are embarking on a replacement of