To truly be effective, HR departments not only have to hire more professionals with analytical talent, but they also really need to collaborate more with their finance departments.

While HR departments are investing more heavily in predictive analytics to determine the effectiveness of their talent acquisition strategies, if they don’t collaborate well with their organization’s finance department, they won’t be able to gain the insight needed to be truly effective, according to the Oracle study, “HR Moves Boldly Into Advanced Analytics with Collaboration with Finance.”

Why? Finance departments were the first to adopt analytics solutions, mainly because they are the most “numerically oriented” function within an organization, according to the study. On the other hand, HR departments were late to start investing in such capabilities, likely due to a lack of accurate data, a heavier reliance on human decisions and low buy-in from the rest of the organization that the HR department really needed to invest in such capabilities.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

More from this author

Dig Deeper

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.