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The Top HR Stories to Tell with Data: Templates that Wow Business Leaders

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The “datafication of HR” is one of 2014′s hottest topics, with 91% of organizations aspiring to move from reactive or operational reporting to proactive workforce analytics over the next 24 months. Indeed, “experience with workforce analytics” has become a sought-after line item on HR professionals’ resumes.

What is driving the “datafication” of HR? A growing number of corporate boards, CEOs, and CHROs understand that by applying data-driven solutions to improve decisions about talent, they can improve revenues and profits. Really, if you can measure real impactful aspects of the people in your organization and make intended changes, you can get the impact in terms of real business results. More than ever before, HR can play a critical role in driving business performance.

View the full webinar recording here:
http://www.visier.com/lp/top-10-hr-stories-with-data/

Published in: Recruiting & HR
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The Top HR Stories to Tell with Data: Templates that Wow Business Leaders

  1. 1. The Top HR Stories to Tell with Data: Templates that Wow Business Leaders September 10, 2014 Dave Weisbeck, CSO, Visier © 2014 Visier™
  2. 2. Page 2 WORKFORCE INTELLIGENCE SOLUTIONS. SMART. INTUITIVE. COMPLETE.
  3. 3. SOME OF OUR AMAZING CUSTOMERS Page 3
  4. 4. Page 4 TODAY’S AGENDA What is driving the “datafication” of HR? What are the top stories you can tell with data? How can HR use data to become a strategic force?
  5. 5. Page 5 CUSTOMER VALUE A growing number of corporate boards, CEOs, and CHROs understand that by applying data-driven solutions to improve decisions about talent, they can improve revenues and profits.” Harvard Business Review, 2014
  6. 6. FORCES DRIVING HR TRANSFORMATION Page 6 Hire Right Demographic Shift Retain Top Talent Skills Shortages Ensure Planning Agility Economic Flux Optimize Spending Competitive Pressures more than ever before HR can play a critical role in driving business performance.
  7. 7. Page 7 “THE WAR FOR DATA IS ON” JOSH BERSIN Level 4: Predictive Analytics Predictive models, scenario planning Level 3: Strategic Analytics Segmentation, analysis, people models Level 2: Proactive – Advanced Reporting Routine, benchmarking, dashboards Level 1: Reactive – Operational Reporting Ad hoc, reactionary 4% 10 % 30 % 56 % If you are not investing in an integrated analytics capability within HR… you’re going to fall behind. Bersin by Deloitte, October 2013.
  8. 8. Page 8 POLLING QUESTION Where would you rank your organization’s analytics maturity today? 1 – Level 1 – Reactive – Operational Reporting 2 – Level 2 – Proactive – Advanced Reporting 3 – Level 3 – Strategic – Strategic Analysis 4 – Level 4 – Predictive – Predictive Analysis
  9. 9. Page 9 “DATAFICATION” INCLUDES METRICS AND ANALYTICS Metrics A system or standard of measurement E.g. Turnover Analytics The connecting and analysis of data E.g. Who is at risk of leaving?
  10. 10. Page 10 How can HR leverage data to become a strategic force?
  11. 11. Page 11 CHOOSE TOPICS THAT HAVE BOTH HIGH IMPORTANCE AND HIGH BUSINESS IMPACT High High Low High 11 Business Impact of Findings Importance of Topic
  12. 12. TELL STORIES ABOUT YOUR INSIGHTS, USING VISUALIZATIONS Page 12 Align Act Analyze • Measure past trends and present realities • Connect data points to achieve insights and predict future events Analyze • Articulate your findings • Share your strategy • Collaborate and gain buy-in Align • Act on workforce decisions • Develop and implement credible workforce plans • Balance costs with budgets Act The Workforce Intelligence Cycle
  13. 13. Page 13 Imagine you have 30 minutes with your business leader….
  14. 14. Page 14 DO YOU PRESENT THIS? 14
  15. 15. Page 15 Fundamentals – Where are we today?
  16. 16. Page 16 BUSINESS LEADER REVIEW DASHBOARD This is a common view most would recognize as the type of metrics you are bringing to a business leader to review. Overall a good dashboard, but a business leader wants to use information to make decisions. For this context is key.
  17. 17. Page 17 MOVEMENT IN/OUT/WITHIN THE ORGANIZATION One of the most important points of context is: how have things changed? If you think about headcount reporting. How do you go beyond to relate how the organization is changing?
  18. 18. Page 18 WHERE DID THE CHANGE COME FROM? How, invariably leads to why - or at least what is driving the change. Is it people joining? Leaving, leaving voluntarily, being replaced?
  19. 19. Page 19 WHAT IS THE BREAKDOWN OF ALL COMPENSATION EXPENSES YEAR TO DATE? Business leaders invariably want to know where the money is going.
  20. 20. Page 20 Acquiring Talent
  21. 21. Page 21 ACQUIRING TALENT One of the challenges with hiring, is that it is a process. There is flow and movement. How do you see that?
  22. 22. Page 22 HOW TO SEE THE BIG PICTURE ON HIRING? Visualization can be critical. Here we can see the core metrics we are used to - like time to fill - but we see those in context to the hiring process. What this also helps us to balance out is the workload behind acquiring talent. Often the question with a business leader is about balancing speed and cost. Business leaders want their key hires sooner, how can you help them see what is involved and what it takes.
  23. 23. Page 23 SPEED OR QUALITY OF HIRE? How do we relate to the business that cost, speed and quality invariably have an impact on each other when it comes to acquiring talent.
  24. 24. Page 24 Keeping Talent
  25. 25. Page 25 ARE WE KEEPING THE PEOPLE WE DON'T WANT TO LOSE? The first place to start with retaining talent is to make sure you have your eye on regrettable turnover. Not all turnover is bad. In fact, turnover can be good. New people bring new ideas. Bad fits, find better fits elsewhere.
  26. 26. Page 26 WHAT ARE THE LEADING INDICATORS OF TURNOVER? WHAT PATTERNS EXIST IN OUR RESIGNATIONS? With attrition, one of the most common questions people pose is: why? How do you find root causes for something as complex as people leaving an organization? Is it because they weren't engaged? Their manager? Their career was stalled? Didn't fit in? Been there so long they needed a change? Felt rewards didn't match productivity?
  27. 27. Page 27 BIG DATA APPROACH TO FINDING TRENDS
  28. 28. Page 28 BIG DATA APPROACH TO FINDING WHO IS AT RISK
  29. 29. Page 29 Developing Talent
  30. 30. Page 30 ARE WE DEVELOPING OUR BEST AND BRIGHTEST FASTER THAN EVERYONE ELSE? What is the average time since promotion broken down by performance and potential – the 9-box.
  31. 31. WHO IS ACQUIRING TALENT FROM THE REST OF THE ORGANIZATION, AND WHO IS DEVELOPING TALENT? Who is promoting into their team, and whose employees are being promoted into roles outside of their team? Page 31
  32. 32. Page 32 The Real Cost of the Workforce
  33. 33. Page 33 HOW IS OUR TOTAL COST OF WORKFORCE CHANGING? Alongside managing our compensation expenses we need to consider our total costs of workforce and manage areas where costs may be increasing. This is especially important as we shift from fewer employees and more contingent staff. We might control compensation costs but add to overall organizational costs through our contingent labor practices. Total Cost of Workforce will help us to understand and manage this.
  34. 34. Page 34 WHICH GROUPS ARE INCREASING THEIR TOTAL COST OF WORKFORCE MOST? Managing costs is about knowing what they are and being able to drill down into which groups / teams or business units are increasing most rapidly. Having the ability to look at the same data through multiple views allows you to communicate the most important answers and then back them up with details.
  35. 35. Page 35 Reducing Unnecessary Workforce Costs
  36. 36. Page 36 COMPARING ABSENCE COSTS TO IDENTIFY REDUCTIONS Benchmarking costs internally gives clear insight into where cost reduction is possible and allows you to focus your work and track your progress. Presenting results that show a like for like measure - absence costs per FTE and compares across different business units, organizational functions locations etc makes this answer clear and compelling. Managing absence costs is a clear and tangible way that HR can support the organization to achieve its overall financial goals. Not all absence costs can be eliminated however reductions in this area can lead to substantial overall cost savings.
  37. 37. Page 37 HOW WELL ARE WE MANAGING OUR OVERTIME AND OTHER SUPPLEMENTAL PAY COSTS? The costs associated with supplemental pay are also an important place to monitor. These costs fluctuate and it is often the case that as other costs are reduced then overtime or supplemental pay increases to cover the short fall. Being able to monitor the year over year change with regard to these costs and compare them to changes in in your base pay is crucial.
  38. 38. Page 38 Performance
  39. 39. Page 39 PERFORMANCE DISTRIBUTIONS FOR EMPLOYEES AND MANAGERS Performance management and the analysis of performance is crucial within an organization. Much as these systems are criticised it is often the lack of analysis of the outcomes that leads them to be poorly executed. Being able to show the distribution of performance for employees and compare that to managers
  40. 40. Page 40 DRIVING PERFORMANCE THROUGH COMPENSATION CHANGES. Compensation changes are a necessary part of organizational life. The key questions for the executive is are these changes going to the right people and are they supporting improvements to the overall productivity and capability of our organization? Being able to demonstrate the comp increases are going to high performers and / or high potential employees demonstrates that HR is effective in driving pay for performance and that the increased compensation dollars are going where they will most benefit the business.
  41. 41. Page 41 Diversity
  42. 42. Page 42 HOW DIVERSE ARE WE ACROSS OUR DIFFERENT FUNCTIONAL GROUPS? Overall diversity is one thing, however it is more insightful to be able to benchmark the diversity of your functional work groups against those of your industry peers. Knowing whether or not the different job groups within your organization are more or less diverse than your competitors changes the focus of your diversity initiatives away from purely compliance and towards the more valuable area of organizational performance and differentiation. Benchmarking against the Equal Employment Opportunities Commission database gives the most accurate and update comparison of based on labor participation and data that is 14months old at worst.
  43. 43. Page 43 HOW DIVERSE IS OUR LEADERSHIP GROUP? Leadership diversity is as important to track as overall organizational diversity. Some might argue it is even more important. Being able to show the organization that diversity initiatives do not just apply to individual contributors but are bringing a diversity of experience, thought and decision making to the leadership group has important impacts for the organization. Leadership decisions drive results and a more diverse leadership group is more likely to build a diverse organization. Hence this comparison of the diversity of managers to total population will inform how and where you can further your organizations diversity initiatives and build better results.
  44. 44. Page 44 WILL WE MAINTAIN LEADERSHIP DIVERSITY? Diversity is not a static state. It is constantly changing as people join and leave the organization. The most important thing to understand to ensure business results are driven from organizational diversity is the make up of your succession pool / candidates. All the work that has been done to build a diverse leadership group can be undone if your succession candidates are not as diverse as your current leadership. Hence showing the executive that your future senior leadership pipeline will maintain or build the diversity that supports better results it crucial to demonstrating the strategic contribution of HR.
  45. 45. Page 45 You need a plan
  46. 46. Page 46 BUT WHAT IS THE PLAN? The most important comparison against your business is how you are doing against what you said you would do – your plan. To create real impact you need to know where you are going, and then monitor that you are doing what you said you would do. This means analyze, plan, measure, and adjust is a constant way of life – an HR transformation.
  47. 47. Being able to tell the story of how headcount is matched to plan is one thing. When you can communicate both headcount and overall costs provides the full picture that the organization needs in order to balance the people required to deliver the goals and the financial resources required to support the people. Costs without people, which is what finance reports, is only half the picture. In the same vein headcount, without costs, which is often what HR reports is the other half. Reporting the two deliver the type of insight executives need to be confident in the results and manage staffing and costs towards the short term and long term goals. Page 47 WHAT DID WE PLAN TO SPEND?
  48. 48. Page 48 KEY QUESTIONS TO ANSWER 48 Where are we to plan – what risks should be be aware of? BUSINESS PRIORITIES PEOPLE PRIORITIES How can we optimize employee movement to drive performance? What are our actual labor costs, and what is driving change? How healthy is our recruiting pipeline? What are our best performing sources for top talent? Why are people resigning, and who is at risk of leaving? How can we improve on team development? What is our Total Cost of Workforce, and how can we optimize it? Are our people investments generating the outcomes we want? How can we leverage diversity to drive business outcomes? HR TRANSFORMATION
  49. 49. Page 49 Q&A Dave Weisbeck, CSO, Visier dave.weisbeck@visiercorp.com www.visier.com

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