Middle East investment in human capital analytics is growing, but the majority of organisations still don’t understand how people data can be used to boost business, a new study shows.

While 56 per cent of private and public sector organisations surveyed now dedicate resources to gain insights into their personnel and what motivates them, 30 per cent of these spend less than 2 per cent of their human resources budget to get the job done.

The study, carried out for next month’s HR Summit & Expo 2018 in Dubai, involved 457 business leaders from a wide range of major business sectors as well as the government and public sector.

While 44 per cent did not raise their spending on human capital analytics in the last two years, 67 per cent are now looking to increase their budgets, more than 18 per cent of these by a significant amount. But 56 per cent say they are just beginners in analytics and admit to lacking an understanding of how to leverage it for business value.

The survey was conducted in partnership with The Association for Talent Development and consulting firm the ROI Institute in the build-up to the HR Summit & Expo 2018, taking place at the Dubai International Exhibition and Convention Centre from November 12-14.

HR experts speaking at the summit will highlight why businesses increasingly rely on data and analytics when making decisions, a process transforming the HR practice.

“We live in a world today where technology outside the workplace has exceeded the digital capabilities delivered to the workforce,” said keynote speaker Jason Averbrook, founder and CEO of consulting and education firm Leapgen.

“While it’s 2018 outside, we’re still deploying tools and processes like decades past. There is a monumental shift of how work is getting done and what processes need to be delivered to both the HR function and the workforce, while successfully leveraging new innovative technology.”

The 15th edition of the HR Summit & Expo is set to welcome more than 5,000 HR professionals who will have access to products spanning over 25 different categories showcasing the latest in HR technology.

David Wood, vice president Alliances - EMEA at Cornerstone OnDemand, said: “Unlocking the value of workforce data is a powerful and strategic move for organisations; I am not surprised to see the investment in people analytics continue to grow.

“With the volume and velocity of people data increasing exponentially, HR teams must ensure that they have the right tools and skills to translate insights into informed business decisions about their organisation’s talent.”

With more than 110 exhibitors taking part, industry experts will have access to over 70 free to attend seminars which will be hosted on the show floor over the course of the event.

Another of the session speakers is Trent Burner, vice president of research at the Society for Human Resource Management. He said: “By having data on human capital, HR can leverage analytics to help their organisations understand their employees, make evidence-based decisions, establish fair and inclusive policies and processes, and to improve workplace productivity, engagement, and retention.”

Todd Brodie, senior facilitator at the US-based Society for Human Resource Management, said: “You can no longer make effective decisions that impact the long-term success of a company based on “gut feel”. HR as a strategic partner is that key link in connecting people to strategy and a solid approach on workforce analytics creates the pathway to do that.”

Other summit speakers will be New York Times and Wall Street Journal bestselling author Dan Pink; Peter Cappeli, professor of management at the Wharton School in the US; and Julian Birkinshaw, deputy dean of Executive Education at London Business School. - TradeArabia News Service