Lack of people insight hamstringing CEOs

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77% of CEOs require better insight into their workforce according to research by HR and payroll specialist, NGA Human Resources (NGA HR).

However, HR departments need better support to collect, calculate and communicate data within the timeframes needed by the CEO.

Of the business leaders surveyed, having access to real-time, accurate and relevant HR data was high on their agenda.

The greatest opportunities for improvement identified in the study were timeliness (69%), accuracy (63%) and relevancy (62%).

However, the research shows that HR teams are often working with unduly admin-intensive processes.

Indeed, aspects that can be automated, such as data entry (35%), report generation (30%) and information gathering (19%), came out as the top three drains on time when it comes to reporting.

Difficulty managing the number of tools was also highlighted in the study. Over a quarter (27%) of respondent admitted to using over 4 tools for employee data.

One in ten (11%) HR leaders admit to spending a quarter of their working hours on reporting alone.

“While other departments such as finance, sales and marketing and operations are utilising integration, automation and predictive technology, HR seems to be falling behind,” said Richard Shinton, Business Intelligence and Analytics Product Manager at NGA HR.

“HR plays such a vital role in business strategy, we need to ensure HR professionals have the tools they need to excel.”