There are a lot of statistics which says that companies spend less than one percent of their business intelligence budget on HR Analytics. Whereas HR (organization’s workforce labor expense) making up, on average, 31 percent of a company’s total operating costs, the assumption is that this should be one of the top three funding areas.
The other functions of the organizations have been able quantify the need of analytics for their function by a business case by showing that their analytics initiatives lead to actions that the business must take and/or didn’t know about before, but unfortunately HR struggles to do this for themselves.
The need of the hour is for HR to demonstrate its ability take actionable analytics quantify a business case such as increasing sales, competitors stealing customers, reducing spending, improving productivity, or even meeting federal laws. The current model for today’s human capital management (HCM) analytics just does not provide that strong, credible “business driver” for investment.
SAP’s BW/BI on HANA and SuccessFactors Workforce Analytics (WFA) can help. There are various other tools such as Online Report Designer (ORD), Business Intelligence and Reporting Tool (BIRT), Dashboard 2.0 etc. along with SuccessFactors WFA can help you to solve your HR Analytics problems.
We can help you to device your HR Analytics strategy and build your KPIs and measures for your business.