The Importance Of Using the Most Relevant Data When Choosing a Performance-Measurement System, Instead of the Most Convenient Data. According to Kaydos (1998), getting the most relevant data assists the organization to come up with an effective performance measuring system. Further, deriving the most relevant data enables the creation of a system that is relevant to the organization and easy to use. Moreover, Kamensky & Morales (2005) note that the most relevant data is useful to managers for making decisions, instead of the most convenient data. Indeed, deriving relevant and factual data enables the organization to come up with performance measures that have high levels of reliability and validity, enabling the organization to depend on …show more content…
Telling a story is the ability to connect the dots in the data and influence decision making. For instance, a company that has been having a problem of high staff turnover can use data to create a story that describes its current problem, its historical background, the sequence of events leading to staff turnover, any dynamics within the staffing procedures, possible solutions and a call to action. In such a scenario, data is used to tell the story of staff turnover in the company and empower the HR department to make decisions. How HR Professionals Might Comfortably and Confidently Make Decisions Based On The Most Relevant Data. The use of relevant data by HR professionals, according to Goodstein & Prien (2006), starts with developing data collection procedures and measures that are systematic and can be quantified while characterizing the individual. After that, the organization must invest in technology that stores, manipulates and provides data and information as needed by the HR professional (Mathis, Jackson, Valentine & Meglich, 2016). Such information is then utilized in making HR related decisions. In the case of secondary data that is already in existence within the organization, it would be prudent that before utilizing the information, such data is assessed on when it was collected. Also, how it was collected, whether the data collection
The new HR Director has requested a report that shows a review of the organisation’s approach to collecting, storing, and using HR data. The findings will explain reasons why the organisation needs to collect HR data. The types of data that is collected within the organisation and how each supports HR practices. A description of the methods of storing records and the benefits of each. A statement of two essential items of UK legislation relating to the recording, storage, and accessibility of HR data.
Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.
The concept of "evidence based HR" is using specific tools (key performance indicators) to help clarify course of action, identify errors or omissions, and align HR to corporate strategy. It is a decision-making process combining critical thinking with use of the best available scientific evidence and business information (Rousseau & Barends 2011). It forces HR professionals to measure their efficiency and effectiveness quantitatively. In addition, it presents a clearer way to share information with colleagues in a systematic way. One tool that is used is Critical Path Analysis, which helps illustrate the minimum time
Levenson, A. (2014). The Promise of Big Data for HR. People & Strategy, 36(4), 22-26.
Data management is vital to any business as this is a key tool to an organisations business improvement, as you can refer back to data, and compare them against benchmarks. Analysing data can provide evidence for possible future structure such as identify trends, as well as indicate where improvements can be made. However there are strict procedures to be followed when collecting and storing data.
Below you will find an overview of some of the data that the HR function within British Gas Business collects. Within this report I will identify two reasons why British Gas Business needs to collect HR data, and the current methods in which we store the data. I will also briefly touch upon some key legislation which if compliant, will reduce any financial or legal risks to the organisation.
There are a variety of reasons why an organisation needs to collect HR data, these could be to satisfy legal requirements, provide relevant information in decision making and for consultation requirement, recording contractual arrangements and agreements, keep contact details of employees, provide documentation in the event of a claim against the organisation.
The below note will give you a brief information about the way the organisation’s approach to collecting, sorting and using HR data.
Relating to Performance when it can be clearly measured, quantified and easily influenced by the organisation or governing body.
It is also assumed that the act of telling a story can provide insight into past, present and future events (Espinoza, 1997). By going through this process, individuals can find the importance of certain events and assign roles to people who are a part of their story. This act can allow a client to find new meaning and understanding to their reality (Espinoza, 1997). Not only is a
Another reason for HR data collection is: providing the organization with information for decisions making.
In addition to their value as learning exercises, doing a careful and thorough job on the
Technology implementation is not possible without technology learning, for the optimal utilization of digital resources, knowledge and understanding of digital tools is a prerequisite criterion. Hence to make HR professionals digital ready, there is an urgent need to make them familiar with the latest HR tools. Companies will invest a sizeable amount of their training budget in the learning and development of digital HR tools. These training programmes will primarily revolve around measurable data tools, including AI-based systems, data management, and virtual reality.
Managers should ensure that selected performance measurement system fits the unique requirements and business strategy of the firm. In general, primary economic activity of the company and its performance focus should dictate the selection of performance measurement model.