Retail Human Resource (HR) leaders continually strive to leverage their human capital assets to drive value and create business differentiation through people. As with any enterprise capability, the ability to access, analyze and report on success or failure is paramount. Human capital management (HCM) analytics are, at their most basic level, a report of workforce demographics or specific operational measures such as headcount or payroll costs. At their most strategic level, however, they are a critical force for superior retail performance. Supported by predictive HCM analytics, the right strategy can enable a retailer to execute critical plans without any talent-related disruption, or serve consumer demand in the most cost effective way.
Although winning the war for talent is an imperative for retailers, there appears to be much room for improvement. In a recent survey by the Human Capital Institute1, 43% of respondents still use spreadsheets or other manual reporting methods to capture and analyze HR data, and less than 20% possess the ability to collect, aggregate, and derive insight from HR data. Additionally, only 11% of respondents use mobile devices to communicate HCM analytics data and less than 10% have real-time access to HR data. So how do retailers plug the skills gap?2
At the upcoming 2013 National Retail Federation Convention, NRF13, we plan to show you how SAP SuccessFactors provides cloud-based HR business execution solutions that deliver business alignment, team execution, people performance, and learning management to retail enterprises of all sizes. The NRF makes a great case for the importance for talent in retail in this short video:
I hope to see you there at booth #1407!
1. The State of HCM Analytics: Talent & Technology Imperatives, Human Capital Institute (HCI), October 2012.
2. Plugging the Skills Gap: Shortages Among Plenty, Economist Intelligence Unit, May 2012.