Last year, Oracle President Mark Hurd outlined the ways that executives can use HR intelligence to help them make better business decisions, shape the future of their organizations and improve the bottom line.
He highlighted that talent management is one of the top three focus areas for CEOs, and explained how HR intelligence can help drive decisions to meet business objectives. Hurd urged HR leaders to use data to make fact-based decisions about hiring, talent management and succession to drive strategic growth. To win the race for talent, Hurd explained that organizations need powerful technology that provides fact-based valuable insight that is needed to proactively manage talent, drive strategic initiatives that promote innovation, and enhance business performance.
What Employee Data Should Be Tracked?
According to Oracle, the key to aligning talent intelligence to drive business outcomes starts with access to the most important employee/talent data. This includes:
- Knowledge of an employees experiences’, their skills and competencies before and during current employment enables you to place the hire appropriately.
- An understanding of an employee’s career ambitions enables you to align your development plans and identify succession candidates.
- Employee performance ratings enable you to ensure that high performers are identified and retained.
- Access to succession plans enables you to understand the transferable skills of employees and to seek out high-potential employees.
- Employee performance information enables you to identify future leadership potential that will help you fill the leadership pipeline.
- Identification of critical skill sets that are at risk or the gaps where new skill sets are not yet available to the organization enable you to plan for future hiring.
- Information about business performance goals that have been established enables you to ensure that all employee goals are aligned to help execute the business strategy.