Company executives no longer believe human resource professionals are just there to handle the nitty-gritty of benefits and compensation. Business leaders are increasingly looking to the HR department to develop innovative business strategies based on data, according to a survey by CareerBuilder.
In fact, the survey found, most CEOS said HR opinions are more important than ever before, with 65 percent of executives agreeing that post-recession, HR opinions carry greater weight with senior management.
"HR is the new frontier for data science applications in business," said Matt Ferguson, CEO of CareerBuilder. "In our study, CEOs acknowledge that the recruitment landscape is changing and the need for their HR teams to come forward with data-driven, competitive approaches and efficient technologies is more critical than ever. HR leaders are becoming more influential members of the executive team. CEOs are looking for HR to be just as data-savvy and digitally-savvy as other areas of the company, and take quick, measurable actions that move the business towards its goals."
Another recent survey by PI Worldwide showed that most HR professionals are struggling to find qualified workers for their companies. So it makes sense that businesses want HR managers who know new ways to recruit and screen job applicants.
Careerbuilder found that nearly half (48 percent) of the 88 CEOs surveyed said their companies had lost money because of inefficient hiring processes. The common problems they cited with hiring was a lack of skilled candidates (49 percent), recruitment processes that take too long to fill jobs (35 percent) and processes that were unenjoyable for the applicants (25 percent).
The survey also found that the great majority (90 percent) of CEOs said it was important for HR managers to be "proficient" in workforce analytics, although only 35 percent said it was an absolute necessity.