Data, people and profits

Strategic implications of evidence-based HR adoption...

A report that examines the broader strategic implications of gaps in evidence-based HR adoption in banking.

Strategic implications of evidence-based HR adoption in banks.

Banking executives will often tell you that their people are their greatest asset. Most banks now recognize as well that data and analytics can lead to improved business decision-making. Yet too few banks seem to have connected the two; applying evidence-based approaches to the HR function in order to drive improved organizational performance. In this sector specific report on the evidenced-based HR practices in banking, KPMG examines the broader strategic implications of gaps in adoption and how closing this gap is strategically important for banks in a race for talent that is truly cross-industry and global.

 

 

“I believe the whole point of evidence-based HR is to drive greater value through the better use of the most important asset an organization has: its people. This shift to this approach is powerful. If you ignore it, you are losing out on opportunities to drive greater customer satisfaction, to drive revenue, to drive higher employee engagement and commitment.”

Tim Payne, Head of People & Change, MC Partners, KPMG in the UK

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The case for evidence-based HR in banking

Examining the broader strategic implications of gaps in evidence-based HR adoption in banking.

 
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Defining evidence-based HR in banking

What exactly does ‘evidence-based’ HR mean in the banking sector?

 
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Imagine linking specific HR activities

You could identify and learn from many insightful data points and analysis.

 
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Better-informed decisions leads to better business

Evidence-based HR can deliver significant value and can deliver potential profit uplift.

 
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Banks maby be lagging behind more nimble competitors

In evidence-based HR, banks being left behind by more nimble competitors will have business implications.

 
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Evidence-based HR is not as simple

Banking execs and HR leaders face challenges that may inhibit their ability to adopt evidence-based HR.

 
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Banking HR too often relies on dates practices

Too often relying on certain “accepted truths” to manage thousands of people and billions in cost.

 
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