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People Analytics: State of the Market - Top Ten List
- • State of the Market Josh Bersin Principal and Founder Bersin by Deloitte October, 2015 People Analytics State of the Market
- The Geeks have arrived … but are we really there yet?
- Copyright © 2015 Deloitte Development LLC. All rights reserved.3 People Analytics: State of the Market – Josh Bersin People Analytics: State of the Market 1. People Analytics is even more important than we thought. 2. The market will grow exponentially, but we are still in the early days. 3. Companies still don’t understand what this “IS” and what it “ISNT” 4. Data Management remains the biggest barrier. 5. Modelling is valuable, but implementing the model is key. 6. Tools and platforms are here, but still no Unicorns or Gorillas. 7. Geeks will rule this world, but not by themselves. 8. Humans have become the “internet of things” and open feedback has arrived 9. Your middle name will become “security and anonymity” 10. It’s still early days, we have to work together. Ten Things I’ve Learned
- Copyright © 2015 Deloitte Development LLC. All rights reserved.4 People Analytics: State of the Market – Josh Bersin Culture and engagement Leadership gaps Learning and development HR Skills and capability 87% 86% 86% 80% % VERY IMPORTANT 50% 51% 40% 39% 35% 34% 29% 26% 20% 14% Top Business and HR Trends Deloitte Human Capital Trends- Culture is #1 Workforce capability Performance management HR and people analytics Simplifying work Machines as talent People data everywhere 71% 57% 52% 80% 75% 75% #1. People Analytics is even more important than we thought.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.5 People Analytics: State of the Market – Josh Bersin Copyright © 2015 Deloitte Development LLC. All rights reserved.5 Global Human Capital Trends 2015 Barriers between work and life dissolve Talent in high demand Millennials make up 50% of workforce Global transparency in job market
- Copyright © 2015 Deloitte Development LLC. All rights reserved.6 People Analytics: State of the Market – Josh Bersin Transparency is here Companies are swimming naked 60% of HR and business leaders do not have an adequate program to measure and improve engagement. Only 12% have a program in place to define and improve culture. Only 7% rate themselves excellent and driving and improving retention
- Copyright © 2015 Deloitte Development LLC. All rights reserved.7 People Analytics: State of the Market – Josh Bersin Average 3.1 What are these companies doing?? Glassdoor Data Employee engagement: it’s not easy.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.8 People Analytics: State of the Market – Josh Bersin Exploding role of culture “Culture” is the New Black <5% of candidates value compensation over culture 95% of candidates believe culture is more important than compensation
- Copyright © 2015 Deloitte Development LLC. All rights reserved.9 People Analytics: State of the Market – Josh Bersin Culture, Value, Leadership, and Career (The Big Four) The issues that matter to employees 0.00 0.12 0.13 0.22 0.28 0.30 0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 Year founded (age) Compensation & benefits Work life balance Career opportunities Senior leadership Culture and values Correlation of Employment Factors to Glassdoor Recommendations as Place to Work Culture and leadership are 3X more important than salary in your employment brand. Career development and learning are almost 2X more important than work environment.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.10 People Analytics: State of the Market – Josh Bersin HR and people analytics We appear to be stuck in neutral No major year- over-year improvement in analytics capabilities Yet, 31% have increased staff, and 19% are buying new tools. of respondents rate analytics important.. but only 8% are “strong” 75% #2. The market will grow exponentially, but we are still in the early days.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.11 People Analytics: State of the Market – Josh Bersin People Analytics Exponential growth starts slow Maybe we are about here
- Copyright © 2015 Deloitte Development LLC. All rights reserved.12 People Analytics: State of the Market – Josh Bersin There is historic precedent for this market. In 1900 Taylor demonstrated the first “data driven” approach to steel manufacturing, driving output from 7 to 50 bars per day.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.13 People Analytics: State of the Market – Josh Bersin Then we realized people were capable of learning Personality matters “Worker Selection” In 1920s Jung realized that “how people think” and how they interact with other creates engagement, performance, and happiness. Resulting in MBTI.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.14 People Analytics: State of the Market – Josh Bersin WW1: Testing Goes Mainstream
- Copyright © 2015 Deloitte Development LLC. All rights reserved.15 People Analytics: State of the Market – Josh Bersin 1930s Hawthorne Studies
- Copyright © 2015 Deloitte Development LLC. All rights reserved.16 People Analytics: State of the Market – Josh Bersin 1950s Assessment Centers
- Copyright © 2015 Deloitte Development LLC. All rights reserved.17 People Analytics: State of the Market – Josh Bersin 1960s-70s HR Data Warehouse
- Copyright © 2015 Deloitte Development LLC. All rights reserved.18 People Analytics: State of the Market – Josh Bersin 1970s-80s ATS Parses Candidate Data
- Copyright © 2015 Deloitte Development LLC. All rights reserved.19 People Analytics: State of the Market – Josh Bersin 2000s: Big Data meets Talent Management
- Copyright © 2015 Deloitte Development LLC. All rights reserved.20 People Analytics: State of the Market – Josh Bersin Today: Instrument Everyone and Everything! Location Location Travel HeartrateLocation Heartrate Biology Location Team Mates Location Emails Phone calls Today: Instrument Everything
- Copyright © 2015 Deloitte Development LLC. All rights reserved.21 People Analytics: State of the Market – Josh Bersin Learning from History of Business Analytics Logistics & Purchasing Financial & Budgeting ERP & Supply Chain Finance & ERP Customer Analytics (Data Warehouse) Customer Segmentation Market Basket Web Buying Behavior Consumer & CRM Recruiting Learning Performance Talent Mgt Workforce Planning Predictive Models for Talent / HR Talent, Leadership, HR v Industrial Economy Financial Economy Customer Economy and Web Talent Economy Early 1900s 1950s–60s 1970s–80s Today Steel, Oil, Railroads Conglomerates, Financial Engineering Customer Segmentation, Personalized Products Globalization, Demographics Skills and Leadership Shortages
- Copyright © 2015 Deloitte Development LLC. All rights reserved.22 People Analytics: State of the Market – Josh Bersin The context of people analytics has changed Recruiting & Workforce Planning Comp and Benefits, Rewards Performance Succession Engagement Learning & Leadership HRMS Employee Data Engagement & Assessment + Sales Revenue Productivity Customer Retention Product Mix Accidents, Errors, and Fraud Quality Downtime Losses Groundbreaking new insights and tools for managers to make better decisions (not HR) Data management, Analytics, IT, and Business Consulting Expertise + = This is NOT HR ANALYTICS!@ #3 Companies still don’t understand what this “IS” and what it “ISNT”. Location, Travel, Meeting Time Organizational Network Analysis Sentiment, Heart rate, Voice +
- Copyright © 2015 Deloitte Development LLC. All rights reserved.23 People Analytics: State of the Market – Josh Bersin Bersin Talent Analytics Maturity Model 4% Level 4: Predictive Analytics • Development of predictive models, scenario planning • Risk analysis, integration with workforce planning 10% Level 3: Advanced Analytics • Segmentation, statistical analysis, development of “people models” • Analysis of dimensions to understand cause, correlation, dimension 30% Level 2: Proactive—Advanced Reporting • Operational reporting for benchmarking and decision-making • Multi-dimensional analysis and dashboards, data dictionary 56% Level 1: Reactive—Operational Reporting • Ad-Hoc operational reporting, lots of running around • Reactive to business demands, data in isolation and difficult to analyze #4. Data Management remains the biggest barrier.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.24 People Analytics: State of the Market – Josh Bersin The Difficult Tipping Point Level 2 Strategic Reporting Level 3 Advanced Analytics Level 4 Predictive Analytics Level 1 Operational Reporting Level of Effort Level of Value Choke point for many organizations
- Copyright © 2015 Deloitte Development LLC. All rights reserved.25 People Analytics: State of the Market – Josh Bersin The Ugly Part Visual Dashboards Advanced Analytics Predictive Models Data Integration Data Dictionary Data Quality Time and Seasonality Big Data Tools Data Governance Ownership Reporting Tools Disparate Systems Visual Skills Stats and Data Skills The Ugly Side: Data Management
- Copyright © 2015 Deloitte Development LLC. All rights reserved.26 People Analytics: State of the Market – Josh Bersin Today, the 14% of HR Organizations believe they “regularly use data to make talent and HR strategy decisions” are: Despite the challenge, the investment pays off… 2X as likely to believe they are excellent at selecting the right candidates 2X as likely to believe they are delivering a strong leadership pipeline Generating 30% higher stock returns than the S&P 500 over the last three years 3X as likely to believe they are efficiently operating HR Bersin by Deloitte High-Impact Talent Analytics® 2014
- Copyright © 2015 Deloitte Development LLC. All rights reserved.27 People Analytics: State of the Market – Josh Bersin Models can change thinking Reporting “What’s happening?” Analysis “What’s going on?” Predictive “What is likely to happen?” Prescriptive “What should we do?” Product quality Success behaviors Retention risk Sales productivity Career development Compliance risk Future skills gaps Toxic employees Fraud Leadership assignments Career success Leadership pipeline Engagement Comp strategy Coaching Customer Service Grievances Learner satisfaction Headcount Performance Ratings Absence Turnover Leadership gaps Comp budget Spans and layers Training compliance Training compliance Skills levels Skills levels Spans and layers Engagement Diversity Demographics Development plans Candidate pool Prehire assmts Source quality Time to fill Compliance risk Retention Leadership gaps Exit interviews Mobility Career progression Compa ratio HR Op costs Service delivery L&D spending Unplanned absence Quality of hire Leadership pipeline Skills gaps L&D waste Retirement projections Accident rates Candidate pools Cost to hire Engagement Advertising #5. Modelling is valuable, but implementing the model is key
- Copyright © 2015 Deloitte Development LLC. All rights reserved.28 People Analytics: State of the Market – Josh Bersin What Will Reduce Fraud?
- Copyright © 2015 Deloitte Development LLC. All rights reserved.29 People Analytics: State of the Market – Josh Bersin How Do We Improve Client Retention
- Copyright © 2015 Deloitte Development LLC. All rights reserved.30 People Analytics: State of the Market – Josh Bersin How Do We Develop Leaders in China?
- Copyright © 2015 Deloitte Development LLC. All rights reserved.31 People Analytics: State of the Market – Josh Bersin How to Manage Unplanned Absences?
- Copyright © 2015 Deloitte Development LLC. All rights reserved.32 People Analytics: State of the Market – Josh Bersin Where Should Bankers Spend their Time?
- Copyright © 2015 Deloitte Development LLC. All rights reserved.33 People Analytics: State of the Market – Josh Bersin Will platform vendors take over? #6. Tools and platforms are here, but no Unicorns or Gorillas yet Clearly Created Data Definitions, Standards, and Validation Database, Data Store, Hadoop, Analytics Technology, Cloud Services Clean, Organized Data Flow and Harmonized Processes Embedded Analytics Tools, Easy to Visualize, User Security Sophisticated Modeling, Statistics, Mathematics Many Clients to Learn From, Test, and Validate Models Engineering Team, Data Scientists, Strong IT Skills1 2 3 4 5 6 7
- Copyright © 2015 Deloitte Development LLC. All rights reserved.34 People Analytics: State of the Market – Josh Bersin 34 Not yet, but buyers: BEWARE! We are here
- Copyright © 2015 Deloitte Development LLC. All rights reserved.35 People Analytics: State of the Market – Josh Bersin The role of consultants Consultants are badly needed.
- Copyright © 2015 Deloitte Development LLC. All rights reserved.36 People Analytics: State of the Market – Josh Bersin The Multi-Disciplinary Team – a New COE Connected To IT Connected to Finance and Operations Connected to Executives Connected to External Data Know the business well Consultant with business Statistical rigor Good with numbers Understand data privacy Visual storytelling Strong data management Process oriented The People Analytics Team #7. Geeks will rule this world, but not by themselves
- Copyright © 2015 Deloitte Development LLC. All rights reserved.37 People Analytics: State of the Market – Josh Bersin VP Human Capital Analytics Director Org Diagnostics & Design Sr. Consultant ODD Program Manager Director Workforce Analytics & Research Manager Workforce Planning Sr. WFA Analyst Manager Employee Research Analyst Employee Research Manager Learning Analytics Consultant Learning Measurement Analyst Learning Analytics Consultants Business Operations Retailer Evolution of the Function VP Comp and Benefits
- Copyright © 2015 Deloitte Development LLC. All rights reserved.38 People Analytics: State of the Market – Josh Bersin Years 5-6 Advanced Statistics & Social Research Acumen; Engineering Degree; Customer Research Background; Statistics & Data Mining Critical Thinking; Story Telling; Data Visualization; Ability to see data, and decipher insights Years 3-4 Business Acumen; HR, Finance, Economics Degree; Quantitative Research Design & Analysis Passion for Data & Analytics; Strong Technical skills Consulting & Presentation Skills; Analytical Curiosity; Problem Solving; Collaborative; Teamwork; Networking Skills Years 1-2 Solid Understanding of HR; I/O Psychology Degree; Employee Research Background; Qualitative Research Design & Analysis; HRIS; SPSS Strong Communication & Interpersonal Skills; Detail Oriented ; Project Management The Evolution of Data Skills and Competencies Large Retailer A Journey of Expertise Development
- Copyright © 2015 Deloitte Development LLC. All rights reserved.39 People Analytics: State of the Market – Josh Bersin New types of data, new ways of analyzing it #8. Humans have become the “internet of things” and open feedback has arrived Text Analysis | Sentiment Analysis | Organizational Network Analysis | Feedback Systems
- Copyright © 2015 Deloitte Development LLC. All rights reserved.40 People Analytics: State of the Market – Josh Bersin Email monitoring: employers own this data And the market gets “creepier” “Big Data Doesn’t Mean ‘Big Brother’”, Conference Board, September, 2015 Monitor your email metadata “Analysis of email and Outlook calendar data showed that managers of high-performing teams spent twice as much time as other managers coaching their employees. Their internal and external social networks were 50% broader, and their sales were 31% higher. #9. Data security, reliability, and anonymity will become your job
- Copyright © 2015 Deloitte Development LLC. All rights reserved.41 People Analytics: State of the Market – Josh Bersin Are people getting spooked? Yes. “63% of employees lack confidence that their employer is keeping data about them private… …and 72% believe their companies are not telling them what data they are collecting.” “Big Data Doesn’t Mean ‘Big Brother’”, Conference Board, September, 2015
- Copyright © 2015 Deloitte Development LLC. All rights reserved.42 People Analytics: State of the Market – Josh Bersin Do you have the security you need? Probably not.
- #10. This is still early days. Let’s all work together. Thank you.. .. and thanks to HiQ for bringing us together.
