HR Analytics: From Data to Insight
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The document discusses the progression of HR analytics from descriptive to predictive and prescriptive analytics, emphasizing the importance of data-driven decision-making for effective business outcomes. It outlines the challenges faced by HR professionals in data analysis and the need for a cultural shift towards a data-driven environment. Key takeaways include the necessity of upskilling HR teams and focusing on significant business challenges to drive transformational HR practices.
HR Analytics: From Data to Insight
- 1. From Data to Insight Ke r ro n R a m ga n e s h
- 2. Leveraging Improved Decision Making to Generate Business Value HR Data Driven HR Data Driven HR 2
- 3. Prescriptive Analytics Application of corrective actions towards scenarios and calculating ROI.Prescriptive Analytics Predictive Analytics Using relationships among metrics to forecast and predict outcomes. Predictive Analytics Descriptive Analytics Understanding the present state, generation of Metrics and KPIs. Descriptive Analytics Data Collection Operational Reporting based on Business Objectives, foundation for Analytics. Data HR Analytics Journey 3
- 4. Measuring and tracking metrics in isolation HR Analytics requires layering and building relationships among various metrics The Metrics Trap 4
- 5. High Absenteeism Low Retention Additional Overtime Costs Reduced Output Staff Burnout Skill Shortages Departmental Issues Applied Analytics Warehousing Department Case 5
- 6. 3 4 1 2 Increase Pay Rate Staff Training Defined ROI Step 04 Increased Cost per Hire Reduced Sales Output Step 03Step 02 Absenteeism Rate Turnover Rate Cost per FTE Operational Reports Industry Research Staff Feedback Step 01 Data Gathering Descriptive Analytics Predictive Analysis Prescriptive Analytics Applied Analytics 6 Warehousing Department Case
- 7. Consulting Capability Facilitation of the problem-solving process. HR Expertise Knowledge of HR Policies, Processes and related issues. Change Management Implementation of action to drive business change. Technical Acumen Use of Technology for Data Mgmt. & Reporting. Data Modelling Applying Statistical Analyses to generate insight from data. Business Intelligence Translating Qualitative HR work into Quantitative value. HR Analytics Team 7
- 8. Drivers and Barriers 8 HR Capability HR professionals are not proficient in data analysis and quantification. Transformational HR Harnessing analytics tools and techniques will shift HR into a transformational unit. Business Performance Maximizing the talent resources of the organization can lead to positive results. Organisational Culture Shifting to a Data Driven culture requires high levels of effort, investment and time. Data Quality Data collection and analysis is usually a scattered and inconsistent process. Data Driven Decisions Reduced subjectivity and human bias in HR decision making processes.
- 9. Enhance Your Team Up Skill your HR Team by creating Cross Functional Teams Business Focus Focus on your most significant Business challenges and build from there More than Metrics Use Data and resulting Metrics to identify relationships and solutions Transformational HR Shifting the HR function from Transactional to Transformational HR Analytics 9 Key Takeaways
- 10. Thank YouQuestions or Comments are Welcome.