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HR Metrics Service

McKinsey’s betting that workforce analytics is the next big wave

When it comes to workforce analytics and its value, McKinsey’s in.

 

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First year turnover–now that’s business insight

Most organizations frequently look at turnover—but they do this at such an aggregate level the measure in and of itself is useless—and not really actionable.

 

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It’s your workforce data… You should use it

There’s lots of talk about Big Data—and in the past 6 months, there has been a noticeable increase in the dialogue related to Big Workforce Data.

 

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People analytics for business: In high heels and backwards

fred astaire and ginger rogers ballroom dancing

Business measurement and analytics has been growing in importance for many years. It has spawned a whole new type of management thinking about evidence-based strategy and decisions. The sophistication levels keep increasing. Here is an example; an online retailer takes real-time data from their customers browsing habits. They pass this to their suppliers who can then can anticipate sales volumes. The suppliers link this to production schedules and to raw material purchasing leading to a a truly integrated supply chain. There is a real elegance to these systems. They move like a dancer in perfect time and balance, leading to performance excellence.

 

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Start with firm foundations to obtain stable HR data

I am often contacted by human resources groups and analysts looking to take their work to the next level and discover the next great insight. Often they are seeking some holy grail or mystic equation that will simply answer the complex questions that human systems create. This is a worthy and powerful quest and one which is moving human resources groups and the organizations they serve into a better and more productive position. Unfortunately…

 

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The HR long game

For many in the human resources function, every day is a series of reactions and responses to events. The experience of work is the constant juggle of urgent demands to hire people, sort out employment issues, deal with grievances or conflicts, resolve pay demands or other requests. All of these activities are important and urgent and place an immediate call on our attention and action. This experience creates a habit, where new information is reviewed with a bias to action or crisis. If there is nothing urgent or important here then the information can be ignored—there is nothing to do…

 

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Let me compare thee…

To achieve the best of both worlds it is important to align your data with common standards that are most likely to provide the opportunity for like with like comparison and like with unlike comparison. This creates the capability to compare in a way that confirms your performance or compare in a way that pushes your performance. As with all data and analytic practices the right thing to do is the one which moves the performance needle for your organization. The more HR can do this AND demonstrate this the better.

 

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Introducing guest blogger Ian J. Cook

It’s a pleasure to welcome Ian J. Cook as a regular guest blogger. Ian will be blogging about HR Metrics which are fast becoming Canada’s leading source of HR data and analysis.

 

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