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Optimize Your Greatest Asset — Your People brings advanced analytics into Human Resources, giving you a framework for optimizing human capital investments through predictive analysis. You'll learn how to transition from anecdotes and surveys to more advanced measurement techniques, and combine the data from multiple systems into a unified plan of action that improves business results. Practical examples and case studies show how these techniques are applied in real-world settings, and executives and thought leaders weigh in on how advanced analytics are informing better business decisions every day. Coverage includes the latest research on the state of current HR measurement techniques, as well as the important considerations surrounding data security and employee trust.
Executives and managers alike are swimming in pools of people data, spread across multiple systems that don't talk to each other. This book shows you how to bring that data together, organize it, and turn it into useful information, and how to build your data strategy to take advantage of the wealth of available tools.
It's time for HR leaders to get over their fear of Big Data. Good data drives good business, and human capital is the biggest asset a company has. Start measuring the things that matter, and start turning those measurements into actual information that goes beyond the spreadsheet. Optimize Your Greatest Asset — Your People shows you how to get started, and where to go from there.
GENE PEASE is a pioneer in the field of Workforce Optimization. He is the Founder and CEO of Vestrics, the leading predictive analytics and workforce optimization platform. Gene has co-authored two other books on human capital analytics and speaks at various industry events on innovative and cutting-edge topics in the HR space.
Foreword ix
Preface xiii
Acknowledgments xvii
Chapter 1 The Need for Measurement in a Changing Environment 1
Analytics Give Companies a Competitive Edge 3
Everybody’s Doing It 3
Transcending Borders 4
Slim Down, Do More 5
Everybody Wins 5
Changing Workforce 6
Who’s Working Today? 7
How Are Employers Responding to Generation Z? 10
The Boomers Are Still Here 11
What about Generation X? 12
So Now What? 13
Notes 14
Chapter 2 What Exactly Is Predictive Analytics, and Why Is It Useful? 17
Workforce Planning 19
Workforce Optimization 20
What Can Analytics Do for You? 21
Using Macroeconomic Data at Wells Fargo 23
Reducing Turnover with Unstructured Data 25
Notes 27
Chapter 3 The State of Human Capital Analytics 29
Profiling the Early Adopters 32
Barriers and Key Enablers to Success 38
Notes 40
Chapter 4 From Data to Action 41
The Continuum of Analytics 43
Taking Action 48
Designing the Study 52
Conducting the Study 53
Other Differentiators 55
Notes 57
Chapter 5 The Big Data Conundrum 59
Death by Dashboard 61
What to Do 64
Descriptive Analysis 65
How Much Data Is Big? 66
Ethics and Other Considerations 68
The Career Perspective 69
The New Art of HR 70
Big Data: Passing Trend or Here to Stay? 72
Notes 73
Chapter 6 The Future of Talent Investments 75
Tools and Technology 79
Talent Acquisition and Management 80
Learning Customization 82
The Future Workforce 84
Notes 85
Appendix A 2014 Human Capital Analytics Study (Making Human Capital Analytics Work): October 2014 87
Quick Facts 89
Purpose and Overview of the Study 90
The Organization, Structure, and Operation of Human Capital Analytics Practice 92
Project Selection Types and Use of Analytics 95
Maturity, Progress, and Success 102
Summary 106
Appendix B Driving Talent Development with Data 107
Introduction 109
Understanding Human Capital Analytics 110
The Human Capital Analytics Continuum 113
How to Start a Measurement Strategy 116
When Human Capital Analytics Pay Off 122
Conclusion 123
Sources 125
Appendix C Training Case Studies 127
ACS: Analysis of a Call Center Agent Turnover 129
Chrysler LLC: Sales Consultant Training 134
Chrysler Academy: Sales Manager Training 138
US Bank: Retail Branch Manager Training 142
Sun Microsystems: New Director Training 146
Appendix D Leadership Development Case Studies 151
National Grid: Foundations of Leadership 153
ConAgra Foods: Foundations of Leadership 157
Appendix E Mentoring Case Study 163
Sun Microsystems: University Mentoring Program 165
Appendix F Social Learning Case Study 171
Sun Learning Services: SUN Learning eXchange (SLX) 173
Appendix G Performance Management Case Study 181
VF Corporation: Measuring the Impact of Performance Management—Maximizing Performance 183
Appendix H Words of Wisdom from Human Capital Analytics Practitioners 189
About the Author 195
Index 197
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