HR Analytics
Transcript: Capacity affects revenue. Capacity analytics seeks to establish how operationally efficient people are in a business The success of your business depends on the level of expertise and skill of your workforce Tip: Key to effective competency acquisition analytics is focusing on a small set of core competencies Tip: It is advisable to make the data collection anonymous, so that employees can really open up and provide useful information. Few employees would feel confident or safe talking about their leader or manager if they knew that person could or may have access to their opinion. Tip: The tricky part is establishing a system to track capacity without creating huge administrative burdens and without alienating employees with a ‘big-brother’ approach. Big data and sensor system can be very effective here. Bernard Marr Contributor Forbes 6. Recruitment channel analytics 2.Competency acquisition analytics GOAL! Tip: Capabilities are not just about qualifications and skills; they can also include capabilities that may not be formally recognized such as the ability to develop and maintain professional and public relationships. Tip: One way to assess culture is through the analysis of customer service conversations, which can provide a rich vein of data to assess corporate culture. An American business magazine. Published bi-weekly, it features original articles on 1. Industry 2. Finance 3. Investing 4. Management 5. Marketing The motto of Forbes magazine is "The Capitalist Tool". 8. Employee performance analytics The 8 HR Analytics Every Manager Should Know About Tip: Always remember that some employee churn can be desirable. It is important to identify a healthy level of churn and develop system to pinpoint the ‘regrettable’ churn. Tip: Aggregator sites like glassdoor.com operate like Trip Advisor for recruitment and can provide companies with independent reviews of their recruitment process. Corporate culture analytics is therefore the process of assessing and understanding more about your corporate culture or the different cultures that exists across your organization. This then allows you to track changes in culture you would like to make, understand how the culture is changing, create early warning systems to detect toxic cultures in their development and ensure you are recruiting people that don’t clash with the corporate culture. Most Important analytics for managers (Present / Future) 1. Capability analytics 2. Competency acquisition analytics 3. Capacity analytics 4. Employee churn analytics 5. Corporate culture analytics 6. Recruitment channel analytics 7. Leadership analytics 8. Employee performance analytics Acquire and manage talent is often a critical factor in business growth. The process of assessing desired competencies. You need to start by identifying the core competencies (now & future) Then assess the current levels of these competencies Identify any gaps. Can these be developed in-house or spotting and recruiting candidates with those competencies. Hiring employees, training them and then integrating them into the business costs time and money. Employee churn analytics is the process of assessing your staff turnover rates in an attempt to predict the future and reduce employee churn Bernard Marr: • Internationally best-selling author • Popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. • Helps organizations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, block chains etc Employee performance analytics seeks to assess individual employee performance. The resulting insights can identify who is performing well and who may need some additional training or support in order to raise their game 3. Capacity analytics Leadership analytics unpacks the various dimensions of leadership performance via data to uncover the good, the bad and the ugly. Data about leadership performance can be gained through the use of surveys, focus groups, employee interviews or ethnography. Recruitment channel analytics is the process of working out where your best employees come from and what recruitment channels are most effective. Surveys and entry interviews are also useful sources of data. Tip: I advise companies to move away from the classic and outdated performance reviews. With modern data capture techniques it is possible to analyze performance more holistically and less focused on specific parts of a job that might cause employees to skew their behavior. 5. Corporate culture analytics 1. Capability analytics Success of company = People of company Long-term success = • Attract the right competencies • Manage talent effectively, • Utilize capacity efficiently • And retain employees 7. Leadership analytics 4. Employee churn analytics
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