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Increasing the value of hr through predictive analytics for hr practitioners

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Understand how HR practitioners can increase the value of their function by bringing insights and foresight to effect accurate people decisions. Such

Understand how HR practitioners can increase the value of their function by bringing insights and foresight to effect accurate people decisions. Such

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  • 1. Increasing the Value of HRthrough Predictive Analytics - For HR Practitioners Sharing By: Louis Chin Director, HR Morphos International Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 1 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 2. What if you knew that…• Purchasing $10,000 worth of shares during Microsoft’s IPO would make you a millionaire today• Google can make a lot of money from the internet before it became what it is today• The liquidity crises in 2008 will cause asset prices to drop significantly to the benefit of those with surplus cash You will make quality decisions that will make you and those around you very rich indeed. Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 2 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 3. As for HR, what if you knew that…• Hiring that candidate across the table will lead to the creation of one of the best selling product lines in your company’s history• The high-performing working mum is not looking for more financial incentive, but would continue working with you if there were telecommuting options• The problem lies not in the motivation of the sales team, but the conflicting directions set by senior managers You will make quality decisions that will make you and those around you very rich indeed. Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 3 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 4. How can we know?Hindsight Insight Foresight1. Gain insights from our past (hindsight). Observe patterns of behaviours and outcomes and uncover areas we might have missed.2. Through the insights gained from the understanding of the past and current situations, we can form predictive data-driven models, bringing more reliable foresight. Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 4 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 5. People AnalyticsHindsight Insight Foresight Gather Data Make Sense Develop of the Data Predictive Models The analytics approach is formed on the basis that accurate people decisions are the most important and impactful decisions of a company. You cannot build a great business if your managers are making inaccurate people decisions. Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 5 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 6. Steps in Analytics1 Record Documenting Operations • Involves the HR having to make use of templates to create job descriptions, process payroll and leave, and other routine paperwork.2 Relate Linking Operations to Organisation Goals • Involves the HR having to align both quantitative and qualitative measurements to organisational objectives.3 Compare Benchmarking the Metrics • Involves the HR benchmarking the metrics to competitors and best practices in the industry to assess competitiveness4 Understand Analysing the Behaviours and Outcomes for Patterns • Involves descriptive analysis of the behaviours and outcomes to understand the relationships and differences between the variables5 Predict Creating Meaning from Analysis to Develop Strategic Moves • Involves the prescriptive analysis of the relationships and differences to apply into the strategic direction of the company Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 6 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 7. Relative Value of the Steps HighRelative Value Low Recording about Relating to Comparing to Understanding Predicting future work organisation benchmarks past behaviours behaviours and goals and outcomes outcomes Hindsight Insight Foresight Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 7 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 8. Case in Point:• Google stock price has since broken the $800 barrier, making it one of the top 3 most valuable firms in the world.• Unlike other top companies who could attribute their success to “reputation”, “established product brand” or “acquisitions”, Google’s market success can be attributed to “extraordinary people managed in an extraordinary way”• The extraordinary efforts have earned Google many notable awards, including “Fortune Magazine’s #1 on 100 Best Companies to Work For”, a title which Google held for many years Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 8 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 9. Selected Highlights on People Analytics at Google:• An effective hiring algorithm – Google developed an algorithm for predicting which candidates had the highest probability of succeeding after they are hired. Its research also determined that little value was added beyond four interviews, dramatically shortening time to hire.• Calculating the value of top performers – Google executives have calculated the performance differential between an exceptional technologist and an average one (as much as 300 times higher). Proving the value of top performers convinces executives to provide the resources necessary to hire, retain, and develop extraordinary talent.• Predictive modeling – People management is forward looking at Google. As a result, it develops predictive models and use “what if” analysis to continually improve their forecasts of upcoming people management problems and opportunities. It also uses analytics to produce more effective workforce planning, which is essential in a rapidly growing and changing firm. From: http://www.tlnt.com/2013/02/26/how-google-is-using-people-analytics-to-completely-reinvent-hr/ Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 9 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 10. Know Your People, Harness Their Potential“Accurate people decisions are the most important and impactful decisions of a company.” We can help you make that happen.Morphos Transformation Process is specially designed to not only to gather critical datafor effective decision making, but to also support the implementation of the people decision,with the guidance of our experienced HR consultants. Alignment and Coaching and Co-creation Awakening Consultancy Collaboration Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 10 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 11. Contact us for a non- obligatory, complementary consultation Office: (+65) 6749 5850 Mobile: (+65) 8198 6381 Email: louis@morphos-intl.comLouis Chin Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 11 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com
  • 12. Coaching Regional Network Training of CertifiedConsulting Practitioners Morphos International Website: www.morphos-intl.com Facebook: http://on.fb.me/VM7OmV Email: louis@morphos-intl.com Empowering Breakthrough Growth! All Rights Reserved © Copyright 2013 Morphos International Pte Ltd. (Co Reg. 200813240N) 12 : (+65) 6749 5850 / (+65) 8198 6381 : louis@morphos-intl.com : www.morphos-intl.com