When I was heading up People Change a few years ago, one of the most frustrating things I experienced was the disconnect between HR and Finance people data. HR & FINANCE SHOULD BE BEST FRIENDS
Nothing made me more nervous than getting the numbers wrong in a people change scenario. I’ve since realized that this is frustration is shared across a wide range of HR and Finance professionals.
When my TA team helped to build an HR Analytics function, I couldn’t help but ponder if collaboration rather than duplication would be a more effective approach. It turns out these musings were right. According to EY, businesses, where HR and Finance functions have been more collaborative over the past three years, report average higher EBITDA growth and stronger employee engagement and productivity.
What does EY advise?:
• You’ll need to be prepared to share: resources, governance, and technology.
• But this alignment of capability will lead to more rigorous HR measurement more quickly.
• That, in turn, enables greater strategic planning and decision making, which drives better performance and people outcomes.
To read the full EY article, click here