Thursday, July 9, 2015

Selling analytics (HR Analytics

Predictive Analytic in HR 

Business Objective: To clearly demonstrate the interaction of business objective and work force strategies to determine a full picture of likely outcomes

Based on research, Global organization with workforce analytics and workforce planning outperform all other organisation by 30%

Outlining the tree step Process for Predictive Analytic in HR Function
1. Hindsight: Gather data by Reporting
2. Insights: Make sense of data by Analysis and monitoring
3. Foresight: Develop predictive Models

What is generally measured:
- Employee Engagement
- Performance Ratings
- Retention/Turnover
- % of employee with dev plan
- Reediness for jobs
- Internal hire %age
- Diversity of workforce
- Level of expertise/competence

HR Analytics:
What could be measured:
- Recruitment
- Retention
- Performance and Career Management
- Training
- Compensation and Benefits
- Workfore
- Organization and effectiveness

Turnover modeling: Predicting future turnover in business units in specific functions, geographies by looking at factor such as commute time, time since last role change and performance over time
Targeted retention: Find out high risk of churn in future and focus on retention of few critical people
3. Risk Management: Profiling of candidate with high risk of leaving prematurely or those performing below standard
4. Talent Forecasting: To predict which new hire, based on their profile, are likely to be high flier and then moving to them on fast track programs.

Overall Return on the Investment
- Retention of key performance and their associated customer and revenue
- Reduced compensation over payment
- Improved HR staff  productivity  resulting in the need of fewer HR Staf
- Reduced risk of litigation due to non-compliance

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