It’s no surprise that data analytics is a top driving force of change for HR professionals across industries, as we’ve heard time and time again at this year’s HR Technology Conference & Exposition. Impacting everything from talent management and employee engagement to workforce planning and innovation investment, we, at Castlight Health, are thrilled to see analytics playing such a prominent role at both the conference and on HR leaders’ strategic roadmaps.
Data analytics has the power to inform organizational strategy and improve business outcomes, turning cost centers into strategic advantages. With the companies attending HR Technology wasting over $10.5 billion on healthcare costs each year alone, the road to improvement is paved with data, and the potential to build business and cure healthcare is great.
What are some of today’s top HR leaders and business strategists saying about the implications of big data and the strategic use of data analytics? Below is some advice to take to the bank – and back to your organization.
- “Today, HR has a seat at the table, and in order to maintain that business partnership, you need to have an analytics framework.” – Andy Kaslow, CHRO, Cerberus
- “You need to know enough about your business and your HR data to understand how it impacts your business. You need to know the ‘why’.” Marc Howze, VP, Global Human Resources, Deere & Company
- “I believe that the data will set you free. At the end of the day, it’s about how do you turn those pieces of information into insights that will improve business.” – Steven Rice, Executive VP, Human Resources, Juniper Networks
- “Find that individual story. There’s such a richness of data, and the longer that we work with that data, the quicker we’ll discover that richness.” – Steven G. Cochrane, Managing Director, Moody’s Analytics
- “Don’t rely solely on data to drive decisions; use it to help drive better leadership behaviors.” – John W. Boudreau, PhD, Professor and Research Director, University of Southern California’s Marshall School of Business and Center for Effective Organizations
Interested in learning more about how Castlight Health’s Enterprise Healthcare Cloud can help employers turn their 30% wasted healthcare spend into a business advantage? Follow us @CastlightHealth and click here to see Castlight in action.