Seattle, WA, September 06, 2014 --(PR.com
)-- Recent research on data governance by the Institute for Corporate Productivity (i4cp) revealed a surprising statistic: More than half of the survey respondents indicated that their organizations had no data governance method in place at all. With recent national headlines underscoring the dangers of compromised data to consumers, brands, and shareholders, securely protecting data and leveraging it to create value is necessary and requires a systematic approach.
Data collection rates are skyrocketing and the risk of this data being compromised is growing at the same rate. In the i4cp report, Data Governance: The Foundation of Data-driven Decision Making, four key findings connect data governance to high-performance:
1) A major gap exists between the intended use of HR data and the planned governance of that data.
2) Employee data is more than a security concern; it is a vital part of organizational planning and execution.
3) HR departments in high-performance organizations facilitate both the securitization and the accessibility of employee data.
4) HR data at high-performance organizations is used to drive strategic decisions, not to reward or penalize the workforce.
As a human capital research organization that discovers the people practices that drive high performance, i4cp is dedicated to determining best and next practices. People data is the most sensitive in terms of liability; this study concludes with four recommendations for business leaders and HR and includes insights from:
· Ohio Department of Transportation
· Huntington Bank
The complete study is available exclusively to i4cp members; a summary version can be downloaded at go.i4cp.com/datagovernance