To help you successfully navigate 2018, we put together a CHRO trends report to cover the five most important trends for every CHRO in the coming year — and tips for leaders who are ready to take action.
Over the next couple months, we’ll dive into each trend in our new CHRO trends blog series.
Trend #3: THE CHRO STEPS UP AS CHIEF DATA SCIENTIST
These days, decision-making in the C-suite is all about data. And without the right tools, CHROs are drowning in it. Organizations are looking beyond traditional processes to better understand how to use data to shape workforce strategy and drive employee engagement.
In fact, a 2015 Harris Poll survey of 301 executives at $1 billion-plus companies found that the role of data in the HR function is increasing at a staggering rate.
80 percent of executives say their company cannot succeed without an assertive, data-driven CHRO who takes a strong stance on talent issues and uses relevant facts to deliver an informed point of view.
CHRO decisions ranging from turnover to compensation, now rely heavily on data.
This means that the future of well-being and engagement programs depends on a CHRO’s ability to make the case for engagement and defend its viability with data.
This year, CHROs will have to increase their intake and use of data to make critical business decisions.
Here’s what you can do in 2018:
1. Audit current and potential data sources to understand what’s possible
Despite the pandemic, Gallup reports a sharp drop in the percentage of employees who strongly agree that their employer cares about their overall wellbeing. Check out this guide on how to reduce employee attrition with a well-being program.