Thursday, 22 September 2016 04:15

HR analytics is one of the top 3 capability gaps in HR and Other Things Learned at WAF

Today, IHRIM hosted its second Workforce Analytics Forum of 2016. For those not familiar with the events, they offer:

  1. Collaborative Networking: Rather than your typical 1-to-many mega-conferences, they purposefully keep the audience small, offering attendees the opportunity to interact with each other, meet the presenters, and get solutions to their own challenges.
  2. Real-World Examples Bolstered by Academic Research: Case study presentations from some of the world's leading experts on workforce analytics supplemented by academic thought-leaders (consistent with IHRIM's rich heritage of university partnerships).
  3. New Technologies: Innovative thinking in analytics is often driven by technology vendors and consultants. For example, the Data Hero Analyst challenge features analysts and vendors using modern technologies (plus Excel) to visualize workforce data in front of the audience.
  4. Content for Beginners and Seasoned Practitioners: New to workforce analytics or in it for the long haul? The Forum features a mix of simple frameworks for attendees to adopt while going deep on statistical modeling.

Today featured presentations from several top-notch analytics experts (specific names can be found in the program). Some of the most interesting comments by presenters included:

Analytics Strategy

  • Leaders pay me for good (HR) intuition – I want to make sure that intuition is backed by data
  • Any firm can buy the data analysis they need; what’s important is that HR connect the data to the internal consumer’s question
  • In choosing between improving our analytics sophistication or our alignment with the business, we chose the latter – it’s a bigger bang for the buck
  • We avoid high cost/low impact analytics projects “like the plague”
  • Analytics will become commoditized over time – attrition models are increasingly the same, from company to company
  • Our job (as analysts) is to put leaders in a position to raise their batting average

Analytics Execution

  • HR analytics is one of the top 3 capability gaps in HR (the others are Leadership and Culture/Engagement)
  • With a small team, we need to democratize analytics and deliver self-service to the front lines
  • Change management is under-utilized as a role in my analytics team
  • Approaching analytics with a glass half-full mentality helps smooth its adoption (optimizing success>reducing unfavorable outcomes)
  • Selecting the right methodology (decision trees, random forests) is important
  • When visualizing data, eliminate as much clutter as possible
  • There is almost no variable that, when changed in real-time, will change the leader’s decision
  • Turnover rates don’t matter – turnover pain does

The Forum continues tomorrow with the Data Hero Analyst Challenge and several more presentations…

Written by Mick Collins

Last modified on Tuesday, 06 December 2016 14:39