On the “Moneyball” – Building the Team, Product, and Service to Rival (PeggedSoftware - Chicago Summit)
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On the “Moneyball” – Building the Team, Product, and Service to Rival (PeggedSoftware - Chicago Summit)
- 1. On the “Moneyball” – Building the Team, Product, and Service to Rival
- 3. Evolution of an Idea The White House Harvard Technology Healthcare • Reduce Turnover 45% - 75% • Improve Quality of Care and Patient Experience 1996 2001 20142010
- 4. Big Data and Preferences
- 5. How to Get a Job at Google FEB. 22, 2014 Continue reading the main story
- 6. Big Data and Software Development
- 7. Big Data and Hiring in Hospitals By year, all facilities combined (non-RNs only) Year Number of employees Numer of terminations Turnover rate Cost to replace 2009 5217 1121 21.49% $ 13,452,000.00 2010 4616 1020 22.10% $ 12,240,000.00 2011 4557 1040 22.82% $ 12,480,000.00 2012 4497 1103 24.53% $ 13,236,000.00 By year, all facilities combined (RNs only) Year Number of employees Numer of terminations Turnover rate Cost to replace 2009 2326 533 22.91% $ 15,457,000.00 2010 2210 468 21.18% $ 13,572,000.00 2011 2102 389 18.51% $ 11,281,000.00 2012 2070 497 24.01% $ 14,413,000.00 Note: The Joint Commission estimates the cost to replace for RNs to range between $46,000 and $64,000. For purposes of this analysis, we have estimated conservatively at $29,000. Along the same lines, our conservative estimate for the average cost to replace non-RN positions is $12,000. These costs to replace include lost productivity due to ramp-up time for a replacement hire as well as recruiting costs and hiring costs. Total 2012 Estimated Cost of Turnover: $27,649,000 2
- 8. Sample Success 60 days 90 days 180 days 360 days Rate Rate Rate Rate Pegged Recommended Hires 5.7% 8.6% 8.6% 25.7% Pre-Pegged Period 25.0% 27.3% 35.2% 48.9% Pegged Improvement 77.1% 68.6% 75.7% 47.4% Turnover Reduction Achieved
- 9. Keys to Big Data • Set Clear Objectives • Prediction? • Segmentation? • What is the Business Goal? • Define success and figure out how to measure it accurately • Understand the difference between intended and unintended consequences
- 10. Keys to Big Data (Cont’d) • Carefully map out the work flow for data collection • Be cautious in presenting results – assume your conclusions are wrong until you know they aren’t • Define success and figure out how to measure it accurately!!!!
- 11. Q&A Questions?