Analytics Driving HCM Technology Purchases

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The HCM technology market is hot. Our 2014 research shows that 20 percent of HCM software buyers will replace their current standalone talent applications with an integrated talent management suite over the next 12 to 18 months.

What’s driving the purchase of HCM systems? A top reason is the need for better analytics capabilities, cited by 53 percent of our survey respondents. (See Figure 1.) Many organizations are frustrated by their inability to access, integrate, and analyze talent data to make better decisions. And many are willing to dump their existing systems and purchase an integrated talent management suite to get these capabilities.

To court these buyers, a host of vendors will be trotting out their analytics solutions at this week’s HR Tech conference in Las Vegas. IBM will be prominent among crowd. The company announced last week that its Kenexa Talent Suite now includes a Watson-powered data discovery application. This new offering allows HR and business professionals to access data, explore trends, and analyze patterns using natural language queries.

SuccessFactors will undoubtedly be another voice heard among the din. Its workforce analytics solution provides access to HR data, benchmarks, and analysis capabilities. Oracle, Workday, and many other talent management system providers will also be at the event showcasing their analytics solutions.

Aside from purchasing a system, HR organizations need to have the right skills to be able to access, analyze, and draw insights from data.  Does your HR organization have the skills it needs to measure, analyze, and draw insights from data? Find out in our new report on organizing and staffing your talent analytics function.

 

Madhura Chakrabarti

Madhura Chakrabarti leads the People Analytics and Employee Engagement research practices at Bersin by Deloitte.

Previous to joining Bersin by Deloitte, Madhura worked for Dell Inc. in Austin, Texas. At Dell, Madhura led the annual global engagement survey for 110,000 employees; culture assessments for mergers and acquisitions; and several people analytics studies. Subsequently, she also served as the Organizational Development (OD) Strategist for Global Operations and Client Solutions, the largest business unit where she led and supported multiple talent management initiatives for the business. Prior to Dell, Madhura worked for Ford Motor Company and Aon Hewitt where her work focused on design and statistical validation of pre-employment assessments used for hiring. Madhura regularly presents at international conferences like SIOP. Her work has been published in Journal of Business and Psychology, and Handbook of Positive Psychology and Work.

Madhura has a bachelor’s degree in Psychology from University of Delhi, India and an M.A. and a Ph.D. in Industrial/Organizational Psychology from Wayne State University, Michigan.

3 thoughts on “Analytics Driving HCM Technology Purchases

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  2. Karen, looking forward to seeing these solutions – and many others – at HR Tech. As I’ve looked at the more prominent HCM vendors – and try to cut through the marketing puffery to view what they truly offer – I have to question to what degree any will "solve" for what many in HR are seeking. Even with the best of "integrated" technologies, insights are driven not by the technology, but data, the capabilities of the organization (where most HR organizations are lagging, especially with respect to fact-based decision making), and the culture of the company (and willingness to accept, embrace, and operationalize what they learn from workforce analytics). Technology can minimize or eliminate barriers, but doesn’t "drive" analytics adoption.

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