Managing modern workforce – leveraging hr analytics
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This deck was used to deliver a session in TA Pai Management Institute, Manipal in their annual HR Conclave in Aug 2015. Read the excerpts of the talk here: https://ibm.biz/BdXTRk Original deck by - Sanjiv Jain, IBM
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Managing modern workforce – leveraging hr analytics
- 1. © 2015 IBM Corporation1 Managing Modern Workforce – Leveraging HR Analytics Khalid Raza @khalidraza9
- 2. © 2015 IBM Corporation Workforce Analytics - defined "By Analytics, we mean the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions." Source
- 3. © 2015 IBM Corporation3 IBM ConfidentialAugust 24, 2015 Source
- 4. © 2015 IBM Corporation Now is the time for analytics as an HR imperative Only 4% of companies have achieved the capability to perform predictive analytics More than 60% of companies are investing in Big Data and analytics tools Only 14% have done any significant ‘statistical analysis’ of employee data at all
- 5. © 2015 IBM Corporation5 August 24, 2015 We uncovered six primary drivers that are propelling organizations towards the use of workforce analytics… …with two being more frequently cited than the rest External Drivers Internal Drivers Labor market trends More flexible, transient workforce Perceived skills shortages Continued globalization of work Emerging data sources External labor market data Partner data Social business and collaboration Pressing workforce challenges Retaining top talent Addressing employee engagement Increasing employee productivity Company-wide analytics mandate and maturity Creating data governance Extending overall analytic know-how Leveraging existing investments Shifts in strategic direction Ongoing business transformation Mergers, acquisitions and divestitures Changing leadership requirements Regulatory and compliance issues Legal requirements Risk management Increasing desire for transparency Pressing workforce challenges Retaining top talent Addressing employee engagement Increasing employee productivity Workforce analytics
- 6. © 2015 IBM Corporation6 August 24, 2015 Global Talent Management Director, Engineering We use HR data to solve business problems that we could not have solved otherwise – to do things with those numbers that before- hand were much more difficult to do buried in a spreadsheet. For our organization, talent is a competitive advantage. Stela Lupushor, Director of Workforce Analytics, Financial Services Lynn Tapper, Worldwide Director, Human Resource Operations, Global HR, Colgate Palmolive The HR organization of the future will not be about the administrative work; self-service and automation will take care of that. HR will be business partners that consult with the business, all based on analytics. HR will make the link between HR analytics and profitability. We learned that organizations that are more advanced are not using analytics solely to address HR issues… …but rather to solve important business problems “” “” “”
- 7. © 2015 IBM Corporation7 August 24, 2015 Of all the potential business problems organizations could focus on, six high priority issues emerged Optimizing costs Transforming the business model Enhancing customer experience Accelerating sales Increasing innovation Managing risk Identify and reduce workforce related expenses such as recruiting, attrition, labor costs and increase overall efficiency Make significant strategic changes to the way the organization does business to enhance competitiveness and impact the bottom line Increase the quality of service and positive customer experience in all aspects of contact with the provider Increase sales and profitability through deeper insights into sales force enablement Enable teams to increase innovation and reduce time to innovation ROI Reduce business, financial, information security and reputational risk A financial services company is looking to reduce turnover in its customer service staff to minimize training and attrition costs while maintaining appropriate service levels. A consumer products company needs to decide where and how to source new candidates with technology skills required to drive its future digital transformation. A retailer is looking to staff its stores with the right mix of associates based on product experience and seasonal traffic patterns. A technology company needs to make smarter decisions about which salespeople should be assigned to which accounts/territories in its B2B model. A pharmaceutical firm needs to determine the optimal R&D team mix from various disciplines to increase the chances of a disruptive breakthrough. A federal agency needs to make smarter hiring and training decisions to increase the probability that its law enforcement officers interact effectively with the public. Business Issue Description Example
- 8. © 2014 IBM Corporation Our research revealed four early pitfalls along the complex workforce analytics journey 8 August 24, 2015 Don’t approach workforce analytics solely from a HR lens. Solve business problems through HR actions. While organizations agreed that data quality is essential, no data set can achieve 100 percent accuracy. Focus on directionally correct data. Successful efforts position analytics as a tool that can augment, rather than substitute for the knowledge and wisdom gained from experience. Basic confidence in the integrity of the data, the business acumen of the analytics professionals and validity of the analytical models is required.
- 9. © 2014 IBM Corporation We also uncovered an additional set of guidelines that organizations should pay attention to once initial capabilities are established 9 August 24, 2015 Analytic efforts need to address business challenges that are significant to strategic outcomes. Follow through on the results of decisions that were based on analytic efforts. Communicate positive, tangible results using ROI metrics and share success stories to justify continued investment. Early wins often bring a flood of requests from business users seeking similar benefits. Decide how to prioritize projects and resources, and develop distinct roles and responsibilities.
- 10. © 2015 IBM Corporation
- 11. © 2015 IBM Corporation Using data for advanced analytics : e.g. Proactive Retention PROBABILITYOFATTRITION Attrition Hot Spots Identify high-attrition clusters Derive attrition “rules” Estimate FUTURE attrition Understand response to actions/programs PROBABILITYOFATTRITION Retention Cases Selection Action Optimization—Identify retention cases and targeted actions to retain them with the goal of maximizing total revenue across the country Which front line agents are most likely to leave? What should be the retention target at various locations? What kind of actions, programs and investments meet the retention targets in a cost effective manner? ROI = 300%
- 12. © 2015 IBM Corporation12 Continuous listening Five products used as a suite and tracked in a Social Listening dashboard that provides continuous insights about the organization
- 13. © 2015 IBM Corporation Allows organizations to easily filter open ended Kenexa survey text comments by sentiment, theme, geography, or demographic • Identify top trending topics pertaining to your organization • Provide managers with consumable insights and visualizations of engagement comments Survey Analytics - Enhances Qualitative Employee Engagement Data
- 14. © 2015 IBM Corporation Getting answers has typically involved multiple steps and people Data Access Data Preparation Analysis Validation Collaboration Reporting HR Analyst HR Professionals Data Scientists and Statisticians IT
- 15. © 2015 IBM Corporation And it’s rarely been a straight forward process HR Professional Data Scientists and Statisticians IT Data Access Analysis Validation Collaboration Reporting Data Preparation HR Analyst
- 16. © 2015 IBM Corporation Oftentimes, answers lead to more questions What’s our retention profile? What is the trending attrition rate by location? How long does it take to onboard new employees? Who are the high risk employees by location? ….. HR Analyst HR Professional, Business Partners
- 17. 17 © 2015 IBM Corporation Talent Insights - Watson-based analytics - sophisticated analytics in the hands of HR Talent Insights with Watson Analytics • Predictive and content analytics enable fresh insights by uncovering patterns not yet known • Watson guidance encourages interactive exploration across all data – creating real- time business intelligence
- 18. 18 © 2015 IBM Corporation Smarter human resources with IBM business analytics
- 19. © 2015 IBM Corporation19 Find me @khalidraza9 Thank you
Notas del editor
- It is not a simple headcount, or attrition numbers, or data reporting, it is more than that and insights that are not otherwise available to take business decisions
- Bersin by Deloiite 2013 Analytics is a hot topic across all industries and disciplines and HR is no exception. Analytics gives companies the competitive edge when it comes to making talent decisions. Studies have shown that companies that leverage analytics outperform their competitors who don’t. A 2013 study from Berson by Deloiite, show that more than 60% of companies are investing in big data and analytics tools, however, these many of these investments are not showing ROI with only 4%( see stat above).......and only 14% (see stat above). That is because analytics is not always easy.
- Externally Labor market trends - The nature of the global workforce is changing rapidly and making it more challenging to understand where and how work is performed across an organization. Regulatory - Regulatory and compliance issues require companies to become more transparent in how they classify their employees and demonstrate how they are reducing bias and risk in hiring and promotion decisions. Emerging data sources - Emerging data sources such as external labor market data and mobile and social applications provide new opportunities to gain even deeper insights into workforce issues. Internally Shifts in strategic direction - Study participants highlighted the importance of shifts in strategic direction, including mergers, acquisitions and divestitures, as internal forces that require a more insightful view of the workforce. These and other large-scale transformation efforts serve as catalysts to better understand shifting capabilities requirements and manage the inflows and outflows of people in emerging strategic areas. Pressing workforce challenges - Challenges such as talent retention, employee engagement and the need to increase productivity are driving the need for analytics Company-wide analytics maturity - Data Governance, analytics investments and experience using analytics within other parts of the organization stokes greater demand and expectation for HR analytics capability.
- A notable theme emerging from our interviews was the importance of applying workforce analytics to solve business problems, through HR actions and interventions, such as identifying the best hiring sources or optimizing employee engagement. Highlight one or two of the quotes.
- From our research, we found companies applying workforce analytics to address six primary business issues: While all are important, the need to optimize costs is among the most cited business challenges. Examples include a business optimizing its number of employees – neither too many nor too few – in key functions and locations, and lowering the costs associated with employee attrition. Similarly , we saw numerous examples of organizations applying workforce analytics to enabling large-scale transformation efforts. For example, several organizations we spoke with from a variety of industries are using analytics so that they have people with the required skills in the right locations to develop digital products and services. Important but mentioned less often, the organizations we interviewed were using talent analytics to enhance the customer experience, increasing the quality of service by boosting employee engagement and making sure the right people were in the right roles with the right skills. Similarly, organizations apply talent analytics to accelerate sales, enabling the sales force to be more effective through actions like using analytics for smarter goal setting and identifying the traits of successful sellers and sourcing them more effectively. We did see a smaller number of companies exploring the use of workforce analytics to foster innovation. This included visualizing the social networking patterns associated with sharing knowledge and developing new ideas, as well as understanding the diverse makeup of project teams. We also spoke with organizations using talent analytics to understand risk-related issues, such as determining whether there is sufficient labor to support the company’s growth agenda.
- Our research included organizations that are starting to focus on talent analytics as well as those more advanced in their analytic capabilities. This maturity curve yielded important lessons. For companies taking initial forays into the use of analytics, four areas were identified as potential pitfalls: Being too “HR-centric.” Ultimately, talent analytics should solve business performance problems. Conducting analytics “in a vacuum” not only weakens its potential impact, it threatens acceptance of its outcomes. Seeking “data nirvana” before beginning talent analytics. Perfect data is a utopian ideal that rarely, if ever, occurs in practice. While organizations agreed that data quality is essential, no data set can achieve 100 percent accuracy. Positioning analytics as a substitute for human judgment. While analytics can certainly challenge conventional wisdom, ultimately the responsibility for decision making lies with the end user. Successful efforts position analytics as a tool that can augment, rather than eliminate, the knowledge and experience of those in positions of responsibility. Ignoring the need for trust. Business users must view those responsible for conducting workforce analytics as credible – in terms of both analytic prowess and business acumen. A basic level of confidence in the integrity of the data and validity of the analytic models is also required. Failure to demonstrate any of these capabilities can easily undermine a project no matter how insightful the ultimate conclusions.
- Once an organization has built credibility through initial successful analytic efforts, it should pay attention to these guidelines: Link to the overall business strategy. Demonstrating the value of talent analytics through projects that are “under the radar” can build confidence. But ultimately, analytic efforts need to address key business challenges that are significant to strategic outcomes. Take action based on discovered insights. The most sophisticated analysis is meaningless if it doesn’t influence some form of change. Follow through on the results of decisions taken based on analytic efforts. Demonstrate ROI. Eventually the investments in people resources, systems and other areas needed to deliver analytic insights have to provide payback. Communicate positive, tangible results using ROI metrics and share success stories so that workforce analytic groups can justify continued investment. Build the capacity to scale. Early wins often bring a flood of requests from business users seeking to obtain similar benefits. While it is easy to handle initial efforts with a small, ad hoc team, a true analytic capability requires a defined operating model. Decide how to prioritize projects and resources, and develop distinct roles and responsibilities. Otherwise, analytic staff can be quickly deluged and unable to manage demands from the business .
- With analytics we can improve employee and business performance through evidence-based decisions. Helping us answer questions like: What is the propensity for my top performers to leave the business? Which candidates will likely succeed in a new leadership role and why? What are the top themes and issues being discussed across the organization and what insights can I learn from this? How do I quickly find the right experts? HR is sitting on a mountain of data that we can help you mine to better understand your workforce and make decisions about your programs.