Four For Friday: Getting Results With HR Analytics
By now I am sure that you have read countless articles about how HR analytics are set to soar in 2016. With surveys and data to back this claim, it’s looking more and more like this once implausible scenario is already underway, with big impacts still to come.
However, just adopting and getting started with HR analytics is not enough for success. For HR leaders, achieving results with the data they collect is what really matters. This week’s Four For Friday provides some advice and tips on how to get the most out of your HR analytics.
“I have found that one of the primary reasons why recruiting is underfunded and under appreciated is because it does not operate in a “businesslike” manner, and thus, calculate risks. It’s not unusual for recruiting to omit businesslike features; for example, every other function except recruiting has quality metrics, forecasts, competitive analysis, and of course risk management,” says Dr. John Sullivan. Learn more in his post on the ERE blog.
What makes HR teams want to start with data analytics? At the recent People Analytics conference, IBM Smarter Workforce VP Jonathan Ferrar provided the following seven reasons why companies invest in HR analytics:
- Competitive Edge
- Operational Efficiency
- Cost Pressures
- HR for HR
Learn more about each in this post on the HRD Connect blog.
How to Put Your Recruitment Data to Good Use (Berkshire Associates)
“Data can be used to review decisions you’ve made, how they’ve worked in favor of (or against) your company, and how you can identify great hires more quickly in the future. Think of it as “Moneyball”—the story of how sports embraced analytics—but for a recruiting department,” says Carla Pittman, Senior Manager at Berkshire Associates. Carla goes on to provide a few areas where you can look for help from data analytics in her post on the Berkshire Associates blog.
The CEB team explains how to improve your approach to HR and talent analytics. When it comes to implementing an HR analytics strategy, they say you should start by addressing three main questions:
- Where should I focus HR analytics? (“Criticality”)
- How do I develop my analytics team? (“Capability”)
- How can I increase the influence of HR Analytics (“Credibility”)
Check out this post on the CEB blog to learn more!
Interested in recruiting analytics and the future of big data in talent acquisition? Sign up for the Data Driven Recruiter blog.