Human Resources is generally considered to be a cost function; the salaries of the team and the initiatives that are put in place carry a cost which is rarely associated with a direct financial benefit to the business.
However, a HR team can measure and monitor data, and transform the data into insight. The insight drives strategies and initiatives which then carry clear cost savings.
For example:
Recruitment : Considering all aspects of recruitment data can tell you the best approach to follow for the most productive, cost-effective employee who is likely to remain for the longest period. It can result in lower recruitment costs, higher engagement and lower turnover.
Retention : Detailed analysis of turnover data can show you who is likely to leave, when, the reasons why, and will allow you to put in place strategies to address the issues.
Absence : Reviewing all data can inform you where and when people are likely to be absent, show any common themes, and allow you to direct specific strategies to reduce absence.
FieldHR is specialised in turning data into insight; so advising on the data that should be gathered, how to make sense of it, the strategies to put in place to achieve your goals and how to continue to monitor and measure.
The HR department can, and should, talk in hard data terms whilst focusing on creating a strong and engaged culture. Allocating actual pound savings to the success of initiatives, or to KPIs, can illustrate the value that the HR team add to any business.