Beyond Metrics
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HR leaders and other talent stakeholders are increasingly being asked to "speak the language of business" and quantify their talent practices in ways that translate to other parts of the organization. But in order to do this, they must move beyond the collection of metrics and focus instead on building meaningful analytics.
An easy way to understand the distinction can be seen through the lens of sports. A team with four wins could be doing quite well or really poorly. A team with four wins in four contests is doing quite well, but a team with four wins in twenty outings is having a dreadful season. To go a step further, a team with three wins in four tries might actually be likely to have a better season than one that had won all four contests — if the teams it had played represented the most difficult portion of its schedule. The number of wins is just a metric, but paired with other data the number begins to have meaning.
The world of Talent Management is full of metrics like "cost per hire" that appear interesting at face value but begin to fall short as an organization tries to tie them to overall business performance. To paraphrase Albert Einstein, "not everything that can be counted counts."
Upcoming BMA Classes
Improve Organizational Alignment & Integration
Metrics based on analytics can help to align, synchronize and integrate the organization. They enable focus to be brought to the organization in a tangible and measureable way. Many organizations use metrics for financial targets, fewer apply them to other aspects of operations and even fewer extend analytics to talent practices. Organizations that take a more holistic approach to analytics — that includes talent measures — are better position for continued success.
Class participants in Building Meaningful Analytics:
- Learn to create competitive advantage for their organization through analytics
- Understand Case Examples of using Analytics in real world practice
- Are introduced to a Metrics Library for Key Talent Practices
- Share different Talent Scorecards & Action Plans
BMA Methodology
John Boudreau has advised that for HR to move to the next stage of its maturity, it needs to become a Decision Science. In fact, HR has more decision frameworks that can be used to optimize talent than are immediately apparent. First and foremost, a strong analytics capability is a great basis for future decisions. But the measures and metrics that result must be based on the strategic direction and initiatives that are unique to each organization; generic analytics and measures have little value.
HCI's new BMA methodology begins and ends with the strategic direction and current goals of the organization, moves through a defined process of applying filters based on use and impact and measurement principles then moves students toward a Talent Scorecard that ties directly back to organization strategy.
For more information, please contact Shane Lennon at 866.538.1909 x1904.