Part of what makes HR analytics challenging is that most of what we measure is difficult to tie to business value in any meaningful way. If we raise our engagement scores by five percent next quarter how much more money will we make? We lowered our cost per hire by an average of $20 per hire last year - how will we know whether the cost savings mitigates the productivity and performance impact of our new employees? Our turnover percentage was 18 percent last year; if we didn't replace those people at all could we infer that our revenue would drop 18% this year? (of course not - which is, in essence, the problem.)
To answer the bell for more relevant, actionable metrics that business leaders will care about, we need to start with what matters to the business and then draw a line of sight to measurable talent strategies that contribute to these outcomes. In this workshop we will work in groups on how to connect these dots, measure the impact of our efforts and devise strategies to adjust to what our new analytics are telling us.
You will learn:
- How to move from metrics to analytics
- Where analytics can enable strategic decision-making in talent retention, recruiting effectiveness, performance, total rewards, and employee movement
- The common mistakes associated with analytics and strategies to avoid them