Tech and Teen
  • Technology
  • Teen
  • Entertainment
  • Sports
  • Politics
  • Business
  • World
  • Multimedia
  • IT HOT
  • Blog
  • Technology
  • Business
  • Sports
  • Entertainments

Tech and Teen

  • Technology
  • Teen
  • Entertainment
  • Sports
  • Politics
  • Business
  • World
  • Multimedia
  • IT HOT
  • Blog

Global study examines how data and analytics can bring finance and HR teams together

by Tech and Teen January 31, 2019
written by Tech and Teen January 31, 2019
Global study examines how data and analytics can bring finance and HR teams together

A short-term mindset and entrenched cultural habits are the biggest barriers to collaboration between HR and finance teams according to a new study from Oracle. The study of 1,510 HR, finance and business professionals found that in order to successfully unlock the value from data and help their organizations adapt to the changing nature of the global talent market, HR teams need to rethink analytics technology, skills and processes to improve collaboration with finance and drive a competitive advantage. The respondents came from a variety of industries and geographies, and all were from companies with US$100 million of revenues or larger.

“HR and finance departments bring different, yet complementary skills to the table. While they traditionally have not worked together closely, that needs to change in order for organizations to create a competitive advantage in today’s evolving market and talent economy,” said Donald Anderson, Director, Organization & Talent Development, Oracle.

“The first step to overcoming traditional barriers and bringing HR and finance teams together is having a collaborative mindset with the right skillsets to both gather and analyze data so that it can be used to make impactful business decisions. That alone will deliver significant benefits to an organization’s performance,” he added.

The global talent market is more competitive than ever with the rise of new technologies, climbing costs of recruitment and increasing demand for new skills. To be successful in this rapidly changing market, HR teams need to rethink their approach to analytics, skills and collaboration to drive a competitive advantage.
The study shows that, 95 of HR and finance professionals plan to make data-driven collaboration a priority in 2019.To act on data in a meaningful way, HR and finance teams will need to acquire new skills. The survey found that 49 percent cannot currently use analytics to forecast outcomes and 81 percent are unable to determine future actions based on predictive data.

The study also found the biggest barrier to collaboration between HR and finance is a short-term mindset, with 71 percent saying their teams focus on quarters rather than future strategic direction. Culture clashes between departments was another top challenge with nearly a third (29 percent) ranking traditionally separate habits as the biggest barrier. Other barriers included mismatched skillsets (27 percentage) and organizational silos (17 percentage). HR teams also lack the skills to act on data and solve issues (70 percent), cultivate quantitative analysis and reasoning (67 percent) and use analytics to forecast workforce needs (55 percent).

HROracle
0 comment
0
FacebookTwitterGoogle +PinterestLinkedinWhatsapp
previous post
Robi-10 Minute School app launched
next post
Jobike arrives in SUST

related posts

Robi offers free Talk-Time and Internet to customers...

August 23, 2024

Hero Alom is the most searched celeb in...

December 17, 2018

Vivo’s new phone hits the market with dual...

June 9, 2020

Banglalink and Guardian Settle First-Ever Telco Insurance Claim

May 16, 2024

Message from Russel T. Ahmed for Digital World...

July 31, 2018

Preparing for the summer right

February 26, 2021

‘Nagad’ launch ‘Add Money’ service with VISA and...

July 11, 2020

bKash asks distributors to adhere AML & CFT...

November 6, 2018

15 years Legacy of Samsung Television

March 24, 2021

Samsung introduces ‘Meet the Eid’ campaign ahead of...

June 29, 2022

Huawei Debuts Versatile Cloud Solutions to Turbocharge New...

August 1, 2022

A hackathon campaign was organized at the University...

January 30, 2020

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Recent Posts

  • 5G-A and AI Fostering the Intelligent Connectivity

    June 27, 2025
  • Dr. Abdulla Receives Prestigious Doctorate Degree for Global PMO Leadership and Innovation

    June 26, 2025
  • Pepe Jeans Powers up in Jaipur with its Biggest Indian Store Yet

    May 15, 2025
  • Shafayat Alam takes helm as CEO of Nagad

    May 14, 2025

Popular Posts

  • 1

    Infinix Showcases AI-Driven Next-Gen Customization at MWC 2025

  • 2

    Which Technology of Water Filter is Good for Bangladesh?

  • 3

    Buyers win iPhones by buying products from ‘Beauty Booth’

  • 4

    HONOR to reveal ‘Alpha Plan’ and showcase AI innovations at MWC 2025

  • 5

    Global Investors Witness PriyoShop’s Impact Firsthand

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018

Mobiles

  • realme launches C75x: The ultra-waterproof smartphone under Tk 18,000 in Bangladesh

  • TECNO launches CAMON 40 Series with FlashSnap & IP68 & IP69 Waterproof technology

  • Infinix leading another lifestyle with Note 50 series

  • Stylish HONOR X8c to hit Bangladesh market soon with 512GB Massive Storage

  • vivo V50 Lite Launches in Bangladesh with Tahsan at Grand Event

Popular Posts

  • 1

    Shafayat Alam takes helm as CEO of Nagad

  • 2

    Prime Bank PLC. Partners with Toyota-Navana Limited

  • 3

    Prime Bank & bKash Enter into Payroll Agreement

  • 4

    tap brings payment facilities at Cantonment CSD

  • 5

    Valentine’s Day store at kaymu


Tech and Teen is proudly powered by WordPress