September 2019 Blog
David Wilson, CEO of Fosway Group, Europe’s #1 HR industry analyst, joins us for the third and final part of his guest series with us to explore the future of HR, from analytics to AI and beyond.
One of the stark statistics from Fosway’s HR research is that 68% of HR leaders do not think their current HR systems are ready for the modern workforce.
So, how can HR ensure its systems are providing what its stakeholders need? One of the keys to this is analytics. Better analytics drive more powerful insights – and these in turn should help connect not only HR silos, but also HR data with broader business metrics. Measuring strategic value and impact HR can deliver – and providing data and feedback for its stakeholders – will never have been easier. Currently, analytics provide executives or board level staff the lowest levels of satisfaction of any HR technology, at just 49%. But the predicted investment in analytics is huge at 68% seeing an increase, making it the #1 area for investment in the year ahead.
Enter the age of AI
The other strategic game changer for HR will be AI (Artificial Intelligence). Fosway research shows that 95% of organisations see AI impacting their strategy and 45% believe it will be truly significant in less than two years. And whilst AI is going to impact lots of aspects of HR process and systems, one of the earliest areas of impact is analytics, and the rapid growth in predictive analytics.
Thanks to its ongoing transformation, HR has the opportunity to move beyond its traditional, transactional roots. And with nearly three quarters of organisations reporting a demand from business stakeholders for HR to prove its business value, the pressure is definitely on. But being overloaded with day-to-day activity is the bane of every HR function, so does something have to give here?
Actually, AI will enable you to automate countless processes, and capture and improve the accuracy of your supporting HR data. For example, machine learning that is being built into so many HR systems, will support recommendations and next steps without any human intervention. Chatbots will start to replace HR helpdesks and save significant time and resource that is currently spent on tactical administrative support in HR.
These intelligent tools are on the way to help HR with its workload and free up time that can then be spent on higher impact, business-aligned and truly transformational innovation. Increasing employee productivity, optimising the utilisation of key talent, raising the performance of your teams, and creating world-leading Employer Value Propositions (EVPs) that attract the very best candidates in the ongoing war for talent.
Additional investment in these new technologies might represent some upfront cost, but the longer term savings in terms of both time and HR resources, not the mention the opportunity cost of you being able to engage in more high impact, transformational activities, should present a compelling business case with a clear return on investment – and ensure your HR function is fit for whatever the future brings.
David Wilson – BIO
David Wilson is founder and CEO of Fosway Group, Europe’s #1 HR industry analyst. A major commentator on the HR, talent and learning industries for over 20 years, David is a strategic advisor to many major corporate and supplier organisations in the UK and Europe.
David personally leads Fosway’s research and corporate advisory agenda. He is the author of over 150 research papers and articles, as well as being a leading speaker at major conferences and events around the world.
With his extensive market knowledge and detailed insight of corporate projects and experiences, David continues to influence the thinking of many of the leading companies and vendors operating in the market today.
Areas of Expertise
- HR and learning technology and strategy
- Vendor solutions
- Market trends
- Industry research
- Corporate advice
Contact Information: +44 (0)20 7917 187; firstname.lastname@example.org
About Fosway Group
Fosway Group is Europe’s #1 HR industry analyst focused on Next Gen HR, Talent and Learning. Founded in 1996, we are known for our unique European research, our independence and our integrity.
For over 20 years, we have been analysing the realities of the market, and providing insights on the future of HR, Talent and Learning. Fosway analysts work extensively with our corporate clients to understand the inside story of the challenges they are facing, and their real experiences with next gen strategies, systems and suppliers. Our independent vendor analysis also provides a vital resource when making decisions on innovation and technology.
And just like the Roman road we draw our name from, you’ll find that we’re unusually direct. We don’t have a vested interest in your supplier or consulting choices. So, whether you’re looking for independent research, specific advice or a critical friend to cut through the market hype, we can tell you what you need to know to succeed.
Talk to us today on +44 (0) 207 917 1870 or via email@example.com, or visit us at www.fosway.com