The potential for analytics in the hands of human resources executives is clear: With data about employees’ performance, satisfaction and compensation, and insight about business needs, the executives can make better decisions about rewarding, retaining and hiring staff.
As with most settings involving analytics, it takes work to move the benefits from theory to reality. There are a number of important hurdles to overcome from managing data quality to the finding the right tools for a specific organization. You have to hire the right people to perform analytics, and you may need to overcome cultural hurdles involved in adjusting business processes associated with managing a workforce.
But the gains are there to be had for those who use analytics well. Below, find highlights from Data Informed’s coverage of human resources analytics, including technology trends, implementation advice and case studies.
Enterprises like The Results Companies are fast discovering the value of HR analytics technology and its potential to improve employee satisfaction, boost retention rates, even flag star performers before they reach their prime. Read more.
HR professionals commonly examine attrition rates—but such data doesn’t tell the whole story of why valuable workers leave. Read more.
For years, companies have relied on high-priced consultants to gain access to proprietary data reporting on how much competitors are paying their employees. Compensation analytics software has changed all that. Read more.
With compensation analytics, data quality is paramount: a single miscalculation or error in data can cost a company hundreds of thousands of dollars. It pays to manage the data collection and analysis process carefully. Read more.
Florida Blue was one of the first companies to go live with SuccessFactors’ Headlines product in May 2013. Headlines is a new application to SuccessFactors’ workforce analytics tool that pushes out to an HR manager or business leader simple storylines based on extensive data mining. Read more.
Compensation planning tools have been around for decades, helping companies calculate salaries and bonuses with paper-based ledgers and Excel spreadsheets. But data analytics is breathing new life into this age-old practice by converting staid tracking tools into powerful predictive models. Read more.
Managers need to evaluate workers and new technologies make it possible to track them. But having the right to monitor and evaluate employees doesn’t mean it’s the right thing to do in all situations. Daniel Enthoven of Enkata writes in this opinion piece that managers should follow four principles when implementing monitoring technologies. Read more.
Deployed across millions of individuals at different companies in countries all over the world, sociometric sensors have the potential to help people collaborate more effectively and create better organizations. But to be effective, companies deploying them should adhere to a “new deal on data” that makes privacy and ethics central to their use, author Ben Waber writes in this book excerpt. Read more.
The managers of a financial call center took used data science to answer the question, “Is it possible to quantify the mindset of the call center representative?” The quantified mindset can then be used to predict those most likely to succeed at training, passing the exam, and graduating into the call center, writes Pasha Roberts of Talent Analytics. Hiring managers then use this predictive model to hire better fitting candidates, decrease attrition and dramatically cut costs. Read more.
Companies that find success with workforce analytics have a handle on the right metrics, are able to spot relevant workforce trends, and have strong data management practices. Read more.
On-demand dashboards and robust data handling capabilities are key selling features for any workforce analytics package. But HR professionals are better advised to take a deliberate approach focused on business value when choosing HR software. Read more.
HR professionals can turn to text analytics tools that promise to provide a more complete picture of employee satisfaction and workforce trends. Read more.
The email logs that VoloMetrix collects are analyzed to show where a company’s people and resources are really being used and if that is the best – or even the intended – use of those resources. Read more.
Riviera Partner’s custom-made workforce analytics tool consists of a huge database of internal and external data on candidates that the firm uses to target, score and identify the best match for its clients. Read more.
HR leaders looking to use workforce management analytics to gain insight into their organization’s business processes and performance should look to create a Center of Expertise including representatives from a range of business functions, to support the effort, experts at consultancy Mercer advise. Read more.
A report by the Institute for Corporate Productivity suggests that many HR departments are painfully unprepared to derive real value from the mountains of data they collect. Read more.
Employee surveys can help HR managers identify skills gaps, establish important performance benchmarks and gauge workforce morale. But not everyone is convinced that HR professionals are putting the data they’re collecting from these lengthy questionnaires to good use. Read more.
With more companies adopting workforce analytics tools, mergers and acquisitions moves have implications for HR. Read more.
Tips on how HR professionals can size up today’s cloud-based workforce analytics tools. Read more.
Beth Ann Finis, a principal in Mercer’s information products solutions business, describes a few of the steps survey vendors take to ensure data cleanliness and the role HR leaders play in facilitating this important process. Read more.
HR leaders often grumble about the challenges of building HR analytics capabilities. But when Christopher Collins of Cornell University sat down with nine executives from large enterprises to discuss the challenges of HR analytics, he discovered that the most pressing issues have more to do with storytelling and organizational structures than HR data itself. Read more.
IBM executives discuss signs that an HR department is not ready for workforce analytics and steps to take to prepare. Read more.
Data management, legal and disclosure best practices for HR professionals to make sure their valuable HR data doesn’t become cause for a court date. Read more.
The explosive growth of data can help companies better target customers and identify top talent, among other uses, hoarding can degrade the effectiveness of data-driven processes and impede employee productivity. HR leaders can help organizations cope. Read more.
While bottom-line results will always influence management, other indicators that come through analysis of a company’s workforce can play a role. Read more.
Cream.hr hopes to address what its founders see as a gap in existing evaluation tools with software that screens candidates earlier than ever—before an HR manager even reads over a resume. Read more.
Data is plentiful, but a primary challenge facing HR teams today is that key word searches of social media data don’t always produce the right matches. Read more.