The first six months of 2016 have come and gone, and in that time, we’ve seen an increase in the number of companies adopting HR analytics. While this is good news, it is by no means the end of the journey. A powerful analytics function can help you easily overcome new regulations, achieve diversity goals, get ahead of turnover, and more, but it requires the right mix of people, technology, and process to achieve.
How do you get started? How do you make your existing team more successful? What best practices exist? As you gear up for time spent reading at the lake, by the seaside, or in your backyard, here are a few popular HR analytics articles:
Morten Kamp Anderson, an expert in human capital analytics, recognizes that a strong analytics team should be made up by different people who each bring an important data-driven competency to the table. Lacking any of these skills (which a person can have more than one of, mind you) can be detrimental to the effectiveness and sophistication of your analytics function. It’s a very insightful read, especially if you’re struggling to allocate proper resources.
HR leaders across the country are being asked by their C-suites and Boards if they can avoid the millions of dollars in overtime costs their organizations are now at risk of incurring — thanks to new overtime rules passed by the Department of Labor in May 2016 — without negatively impacting business objectives. This article details how HR analytics make it easy to comply with the new ruling and be more proactive when it comes to workforce issues.
If you’re leading or building an HR analytics team, this manifesto by Alec Levenson is an exciting and sobering read on what it really takes to drive business results with an evidence-based approach. Levenson is an Economist and Senior Research Scientist with the University of Southern California’s Center for Effective Organizations (along with frequent Visier guest contributor, John Boudreau).
This year I had the privilege of taking part in a ground-breaking research project. It leveraged a workforce database unmatched in the world in its breadth and depth to examine gender equity like never before. This Time Money article (and video) highlights the key findings. In fact, the report got so much attention there have been many insightful articles written about it. You can check all those articles out here, and download the full report (no cost!) here.
Strategic HR practitioners know that connecting the workforce to business outcomes is crucial, but figuring out how to start building this kind of acumen can be a challenge. Tracey Smith, a global influencer in the HR analytics space, breaks it down to the first three capabilities you should have outside of the HR domain.