Maximise the effectiveness of HR data and make the CEO listen! Series Two, Master Class Two
 

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The opportunity for businesses to intelligently use the vast amounts of data they hold for key decisions has never been clearer. Today’s HR systems can offer business leaders incredibly rich ...

The opportunity for businesses to intelligently use the vast amounts of data they hold for key decisions has never been clearer. Today’s HR systems can offer business leaders incredibly rich insights into their people, processes and performance.
In the second 20 Minute Master Class of this series, Bernard Marr, best-selling business author and enterprise performance expert, examines what HR data companies can use to inform business decisions, and how HR leaders can gain the ear of the CEO by making more strategic use of their data.

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Maximise the effectiveness of HR data and make the CEO listen! Series Two, Master Class Two Presentation Transcript

  • 1. 2 Maximise the effectiveness of HR data and make the CEO listen! Master Class 2: 14th November 2013 Bernard Marr Founder and CEO, Advanced Performance Institute
  • 2. The opportunity for businesses to intelligently use the vast amounts of data they hold for key decisions has never been clearer Today’s HR systems can offer business leaders incredibly rich insights into their people, processes and performance. In the second 20 Minute Master Class of this series, Bernard Marr, best-selling business author and enterprise performance expert, examined what HR data companies can use to inform business decisions, and how HR leaders can gain the ear of the CEO by making more strategic use of their data. The datafication of people and processes A wealth of data The HR function is second only to Finance in terms of data richness. But most HR organisations aren’t making strategic use of their data.
  • 3. Datafication of the world Every conversation and activity leaves a digital trace. By the end of 2013, we will generate the same amount of data EVERY TEN MINUTES as was produced between the dawn of time and 2008. Think beyond traditional records Data isn’t just confined to conventional systems of record – it’s generated by everything from the RFID sensors in security badges to company emails and the GPS in our phones. The ethical use of text, voice and movement analytics, face recognition and sentiment analysis can generate powerful insights.
  • 4. The four stages of alchemy from data to value 1. Ask strategic questions 2. Identify the right data 3. Analyse the data 4. Turn it into insight “Technology should support this approach but you should always follow a business case – this isn’t an IT-driven exercise.”
  • 5. Develop a 1-page strategy map What do you want to achieve as a business? Do you have the right people with the right skills? How do you engage them? Use data to test relationships and understand the impact of HR-related objectives. Causation or correlation? The patterns uncovered in data very often have little to do with cause and effect but can help make reliable inferences and predictions through statistical probability, e.g. “people who bought X were also interested in Y”.
  • 6. “Most HR departments are better at the business of people than using data. Surprising real-world insights A retailer was able to quantify the effect of a percentage increase in staff engagement in terms of productivity, satisfaction and financial performance per square foot in store. But you can find out A contact centre discovered people with a criminal record perform better in call handling than those without. the human side A bank discovered that employees who held degrees from second or third tier universities were outperforming those from red brick institutions. a lot about of everything ” from data. A fashion retailer looking for motivated, self-driven store advisors looks at the Klout score (measure of social media influence) of candidates and employs popular people with a large network of friends.
  • 7. “HR can increase its strategic worth by identifying the questions the Senior Leadership Team needs to answer, prioritising initiatives, and engaging IT as a support function tocollection and enable the analysis of data.” Business case first, IT second. Useful advice when dealing with Big Data #20mmc Data opens up huge opportunities for HR but only if they turn it into insight. #20mmc
  • 8. Bringing data science to HR Companies are investing in Big Data and analytics tools to help make their HR departments more insight-driven and improve operational performance. But very few organisations have done any significant statistical analysis of employee data at all. The rest are still trying to get out from under the burden of data management and reporting challenges to deliver standard operational metrics.
  • 9. Those organisations that lead the way in analytics typically generate higher returns and tend to have healthier leadership pipelines. What’s more, their HR teams are more likely to be respected by their business counterparts for their data-driven decision-making, giving them the strategic muscle to effect real business change. While tools are important, leading companies have also invested in sound data management, focused on the right problems, and built strong relationships with finance and operational analytics teams. To find out more about the tools and technologies that can help you readily apply these approaches to your own business: Call: +44 (0) 8450 742990 Email: cloudinfo@successfactors.com Carry on the conversation: LinkedIn bit.ly/20mmc Twitter #20mmc