Can you measure Human Capital?
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With established metrics for success, you can quantify progress and adjust your process to produce the desired outcome. Without clear objectives, you're stuck in a constant state of guessing. Leaders at all levels should rigorously define — and measure — what excellence means.
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Can you measure Human Capital?
- 1. Can you measure Human Capital? Skunkworks, Flexdashboards and Shiny apps come to the rescue
- 2. You cannot manage what you cannot measure. H. James Harrington
- 3. 3 Three components driving behavior Thinking Feeling Acting Interaction with Environment = Behaviour SQ IQ EQ Integration RatioIntuition emotion Source : Shell T&D Wout de Leeuwerk
- 4. 4 The root causes of human failure • A “misbalance” in the combination of three separate powers in the mysterious triangle – Insufficient knowledge of the product, system, procedure, situation, strategy etc. – Insufficient skills, lack of training, experience, poor structure, etc. – The wrong attitude, motives, beliefs, values, culture WILL LEAD TO : the wrong perception of reality
- 5. Models are simplified depictions of reality and often take the form of an equation or set of equations.
- 6. Models help managers to: • be more explicit about objectives, • identify and record the decisions that influence objectives, • identify and record pertinent interactions and trade-off between decision variables, • record constraints that variables may assume. Why do we need models?
- 7. 1. Worker satisfaction • Gauging employee feedback through structured and open text questions. Open questions provide huge advantages to scale type question. • Semantic understanding is used to identify what people are talking about.
- 8. 2. Productivity and performance • Catalogue your business processes, especially procedures and decisions that are made frequently and consistently. • Focus on simple problems.
- 9. 3. Turnover and retention Nearly all companies measure turnover. It costs companies a lot.
- 10. 3. Turnover and retention (2) • Growth: Growth is fundamental to human happiness. • Impact: Impact your company is having on the world, and the impact an individual is having on your company. • Care: Employees will feel happier on a day to day basis knowing they are surrounded by people who don’t just want something out of them, but want something for them.
- 11. A. Mood and atmosphere • Good mood is contagious • Employee referrals are the #1 source of quality candidates for the most successful organizations.
- 12. B. Social interaction • Very little work is known about the power of informal networks in the HR . • The ability to scale these insights from Organisational Network Analytics has been a major hurdle. ?
- 13. C. Intangible qualities • Social recognition, in-house LinkedIn, empowers the entire workforce. .
- 16. Don’t think Big Brother, think Big Data-Driven Coach.
Editor's Notes
- Let us be clear: With established metrics for success, you can quantify progress and adjust your process to produce the desired outcome. Without clear objectives, you're stuck in a constant state of guessing. Leaders at all levels should rigorously define — and measure — what excellence means.
- Models and ideas are not reality. Only reality is reality. Don’t get trapped in the models that science produces. Use the models. But don’t let them use you.
- .
- Three major areas of HR measurement stand out as common metrics:
- Did you know that a study has shown that one can achieve a 13% gain in productivity just by re-arranging the seating plan? Productive workers should be paired with Quality Workers Generalists should be grouped together
- Instead of focusing on pure stats, it is recommended to focus on growth, impact, and care.
- Still, there are some significant challenges in reducing everything in HR down to objective data points. Worker moods can have a powerful effect on the atmosphere of your work environment, and your overall productivity as a group..
- This can help businesses to improve knowledge-sharing across the organisation, optimize human resource allocation and generally have the ability to explore datasets in an exciting, interactive way.
- Employees can see and emulate great behaviour Linkedin introduced endorsements in September 2012 Achievers and Globoforce
- A skunkworks is a place designed to encourage the employees of large organisations to come up with original ideas. It usually consists of a small team taken out of their normal working environment and given exceptional freedom from standard management constraints. They establish a proof of concept before any formal projects/initiatives takes place.
- One last recommendation