Are the 4 D’s holding back your data-driven HR strategy?
Despite their benefits, most HR teams are not effectively using HR data, analytics and insight. Learn what’s hold them back and how unlock the potential of your own data-driven HR strategy.
Published: 18 September 2024 | by Mark Brandau, Chief Marketing Officer at Brightmine
In this “AI-Talent Economy,” one thing we know for sure — data is the fuel. It’s powering how HR works. HR teams that leverage trusted people data, analytics and insight are more successful. This has been widely publicised over the past few years: HR teams that rely on data, analytics and insight improve business outcomes. Research from firms like Deloitte and Gallup has noted as much as an 82% increase in 3-year profit and 21% more profitability with more engaged employees.
Yet, around 70% of HR teams are not effectively using trusted people data, analytics and insight, according to Crunchr’s 2023-2024 State of People Analytics report. Why?
Key challenges
Disruption
One major challenge is disruption. HR agility and resilience are top priorities, but 80% of HR can’t keep up with compensation changes, for example (Gartner 2023 Comp Tech Buyer’s Guide). This constant state of flux makes it difficult for HR teams to maintain consistency and fairness in their compensation strategies, leading to potential dissatisfaction among employees.
Data trust
Another significant issue is data trust. Integrity is the basis of AI, yet some reports claim 75% of leaders don’t trust their data and 89% don’t trust HR with data. Hard to believe, but this lack of trust can stem from various factors, including poor data quality, lack of transparency in HR data collection processes, and previous experiences with inaccurate data. Without trust in the data, it’s challenging for HR teams to make informed, data-driven decisions that can positively impact the organisation.
Doubtful ROI
Additionally, there are concerns about doubtful ROI. Budget constraints and real ROI concerns mean that 83% say they must do more with less. HR departments are often under pressure to justify their expenditures and demonstrate the tangible benefits of their initiatives. This can be particularly challenging when dealing with intangible outcomes like employee engagement and satisfaction.
Deficient resourcing
Finally, deficient resourcing is a problem, with 95% saying there’s too much work and stress, yet 91% remain excited. HR teams are often stretched thin, juggling multiple responsibilities with limited resources. Despite these challenges, there is a prevailing sense of optimism and a belief that with the right tools and strategies, they can overcome these obstacles.
Breaking through the 4 D’s to deliver brighter business outcomes
Leading HR professionals are prioritising actions that will move the needle and create breakthroughs. And according to recent research by Fosway Group, 70% cite this as the most critical element of their future HR success. High-quality data provides a solid foundation for making strategic decisions, identifying trends and addressing issues before they escalate.
Investment in data, analytics and insight is also crucial, with 93% increasing or maintaining their investment, according to HireRoad. By investing in these areas, HR teams can leverage advanced tools and technologies to gain deeper insights into their workforce, streamline processes and enhance overall efficiency.
At Brightmine (formerly XpertHR), our community of nearly 11,000 customers, partners and employees are delivering the critical people data, analytics and insight to move your business forward. In doing so, we’re transforming how you use data, analytics, and insight to reduce risk, optimise talent strategies and proactively deliver brighter business and human outcomes. On average, our customers have achieved $713K in annual savings, a 50% reduction in legal costs, and a $2.13M 3-year ROI.
Customer success story: Brightmine and BMSS
One of our standout success stories comes from BMSS Advisors & CPAs. Rebecca Tipton, an HR Services Manager at BMSS, faced significant challenges staying on top of the ever increasing, complicated web of workforce compliance policies. With clients in more than a dozen industries across the U.S., Rebecca needed to provide accurate advice on all aspects of HR to ensure compliance.
Rebecca turned to Brightmine for up-to-date legal information and efficient processes. Instead of spending hours researching individual state laws, she now relies on daily email updates from Brightmine. This has reduced the time required to create a new handbook by more than 30% and allowed her to focus on what truly matters – providing excellent service to her clients.
How we do it
Our award-winning Brightmine product portfolio uniquely combines critical workforce data, AI and trusted HR expertise to illuminate your path forward.
In addition to solutions for Compliance Insight & Automation to help you turn regulatory complexity into HR-led business value by leveraging trusted insights and AI to simplify and stay ahead of the curve. We also provide Compensation Planning & Equity Analytics, to help you ensure compensation and rewards become a catalyst for improving talent attraction, engagement and retention.
With our solutions, you can break through the four D’s to deliver brighter business outcomes. But don’t take my word for it. See why our customers have made us an award winning, trusted solution the rely on, every day. Click below and get started with a FREE Trial of our HR & Compliance Centre and see for yourself!
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About the author
Mark Brandau
Chief Marketing Officer, Brightmine
Mark Brandau is Chief Marketing Officer (CMO), for Brightmine (formerly known as XpertHR). He is currently responsible for Brightmine’s go-to-market strategy and execution of the Brightmine Product Portfolio. In doing so, he manages Portfolio & Customer Marketing, Demand Generation and Marketing Operations, as well as Corporate Marketing, including Communications, Brand, and Digital.
Mark is an industry veteran in Human Capital Management technology, and the “HR Tech” space. Prior to Brightmine, Mark was Vice President, Portfolio Marketing & Strategy for iCIMS, where he led product and customer marketing for the industry leading iCIMS Talent Cloud. Before iCIMS, Mark was Principal, and Forrester Research’s HCM (Human Capital Management) and Future of Work Practice. Mark also worked at SAP, as a Senior Vice President, Product and Solution Marketing for SAP SuccessFactors.
Prior to SAP SuccessFactors, Mark led product go-to-market activities for Plateau Systems (acquired by SuccessFactors), and as VP, Marketing for Visual Mining, which focused on next-generation data and analytics solutions. Mark holds an M.B.A., Magna Cum Laude, from Marymount University, Arlington, Virginia.
He lives in the Washington DC area with his wife Haleh, where they enjoy traveling, hiking, and spicy food!
Connect with Mark on LinkedIn.