Do you often find it difficult to build a solid business case for investment in HR? How are you meeting this challenge?
Monday, January 31, 2011
Monday, January 24, 2011
In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision making for candidate transactions.
Thursday, January 20, 2011
The American Strategic Management Institute hosted the HR Measures, Metrics and Analytics Summit this week in Arlington, VA. This conference is my third HR metrics in the last six months. I ALWAYS learn something new. Below is a list of just a few observations from this week:
- HR must take the lead on metrics, before someone else does.
- It’s not good enough anymore for HR to align with organizational strategy, HR needs to actually BUILD organizational strategy. (Jeremy Shapiro, Stanley Morgan)
- Metrics and Analytics will be used, paid attention to, and acted upon if you can relate them to organizational outcomes.
- Many organizations are at the infancy stage of HR metrics, just starting to track HR effectiveness and efficiency but….
- Organizational leadership is more demanding for evidenced based decision-making
- The future of HR Metrics is predictive analytics….the future is now! (Darren Shearer, SuccessFactors)
- Insight from data can’t happen until you begin to integrate your HR data with other functional data
- HR tracking metrics like those found on scorecards are important, but analytics will prove impact and show insight enabling HR to show how people really make the difference in the organization.
- Workforce planning analytics is a great place to start in the analytics journey as having the right people, in the right seat, at the right time will be critical for companies to gain competitive advantage.
- Doing the analysis does not necessarily require a PhD, just a curious mind that understands the business environment.
- Continuous improvement occurs when action is taken on the insights uncovered. Actions will not be taken unless managers and leadership are HELD ACCOUNTABLE.
- Don’t be so proud of your data that you display ALL of it rather than tell a compelling data story.
- Talent Management metrics like quality of hire and how/who is high performing ar e critical analytics as these measures have big financial impact to organizations. (Darren Shearer, SuccessFactors)
Every time I have attended a metrics conference, I leave more optimistic than I came. I meet very savvy HR professionals that are determined to not let HR metrics fall into someone else’s hands!!