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.

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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.

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