The pace of change is both relentless and unprecedented. It is not a question if change will occur, but rather how organizations adapt and respond. There are few signposts that can guide decisions and help to ensure success, but a strong analytics capability is a core foundation upon which to build. It is useful both to understand the past but also to explore the future by trying and testing out new approaches.
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 for each organization. Generic analytics and measures have little value.
The end result of this process is a Talent Scorecard that is tailored to your organization. It must be grounded in the strategy and context of your organization; and the Talent Scorecard is a start, not an end. It is important to track these measures over time, adjust as needed and look for patterns that can inform decisions. A one-time snapshot is not nearly as useful as a more historical analysis that shows differences or similarities over time.
"Future organizational performance is inextricably linked to the capabilities and motivations of a company’s people. Organizations that have used data to gain human capital insights already have a hard-to-replicate competitive advantage."
—Thomas Davenport, Jeanne Harris and Jeremy Shapiro, 2010
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- Become More Data-driven: HR professionals, it is said, are good with words, but not numbers. This needs to change rapidly as HR is being asked to play a more significant role in strategic and operational decisions; and it is no longer sufficient to just be conversant with numbers as the language of the business. But rather there is an opportunity to lead the business around human capital measures, just as finance leads the business in the operations and tangible asset arenas.
- Provide a Business Intelligence and Analytics Perspective to Addressing Problems: There are patterns and trends that characterize every organization, but few know or even understand these perspectives. A significant opportunity exists for HR to become the chief data analyst and business intelligence expert that uncovers ways in which the business can maximize success by providing decision frameworks based on actual data and analytics. Business leaders will be amazed at this new power right at their fingertips, if they only had access the right data.
- Make a Strategic Contribution: An IBM/HCI research study has identified building an analytics capability as one of the major future objectives for talent management. Analytics offers a great chance for HR to enhance its position and status in the organization. There is a thirst for meaningful information, especially in the area of intangibles which often are difficult to measure and analyze.
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
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.