Deloitte: Analytical tools and techniques critical for addressing HR issues

By Rob Starr, Content Manager, Big4.com

According to professional services firm Deloitte, advanced workforce reporting and analytics is shaping up to be one of the key trends in Human Resources (HR). In the global report “Human Capital trends 2012: Leap ahead”, Deloitte highlights how advanced analytical tools and techniques, such as predictive modelling, are making it possible for organisations to glimpse into the future and make informed predictions that they can then develop into targeted solutions.

Many leading organisations are using workforce reporting and analytics to help make better and more informed decisions about their human capital and organisations are reducing labour costs, improving productivity and employee effectiveness and managing risk more efficiently by capitalising on the latest workforce reporting tools and analytic techniques.

“In our fast paced business environment, organisations need predictive solutions that help address critical business issues before they actually become problems,” says Nicky Wakefield, Deloitte Consulting’s National Leader of Human Capital who believes advanced analytics is helping leading organisations retain top talent and increase their leadership pipelines by looking deep into their workforces to anticipate which employees are most likely to reach the top.

“Our workforces are often global and more complex, so advanced analytics helps HR and business leaders cut through complex issues, such as controlling labour costs, generating more value from the workforce and offering valuable insights using useful workforce data.”