Four For Friday: Predictive Analytics in HR
Of all the HR data trends that have grown in importance, perhaps none are bigger than predictive analytics. Yet it is also probably the least understood among HR professionals. Luckily, there are plenty of resources on the web to help you learn more, including those from Greta Roberts and Talent Analytics, Corp. (whose article we included below!).
“Remember what predicting does for your organization. Accurate predictions do a better job at decision-making so that you have better end results. End results are the only thing that will get people excited and will be implemented,” says Greta.
This week’s Four For Friday takes a closer look at predictive analytics in HR, and how they can provide value to your team.
“As more businesses turn to analytics to aid their decision-making, HR is feeling increased pressure to leverage big data in ways that impact everything from time to hire to training budgets,” says Mark Feffer, a careers and technology writer. And though HR has been behind the curve when it comes to data, the rise of predictive analytics is changing the thought process. Check out Mark’s post on the SHRM blog to learn more.
People Analytics: 5 Steps (HR Trend Institute)
According to Tom Haak, founder and director of The HR Trend Institute, people analytics is not a luxury, but a necessity for HR. “People analytics does not have to be difficult. The best is not to talk too much about it, but to get started,” he says. Tom goes on to provide the following 5 steps to get started on your people analytics journey:
- What are the major issues in your organization
- What is the current situation
- Create the most impactful interventions
- Experiment and measure
Read Tom’s post on the HR Trend Institute blog to learn more about each step.
For a long time, HR leaders have had difficulty gaining a “seat at the table” within their organizations. Luckily for these leaders, however, a new trend is emerging that is helping them overcome this long-standing issue. “Today, the Chief HR Officers in several large companies have been using HR analytics to help them acquire such a seat,” says Jack Bucalo, Columnist and Featured Contributor for BIZCATALYST 360° and retired HR Executive Consultant. Jack’s post goes further into the use of HR analytics and how they can benefit your team.
Nobel Prize In Economics Goes To MIT And Harvard Professors For Work Involving Workforce Analytics (Talent Analytics)
“Having workforce analytics be a part of a Nobel Prize in Economics, from prestigious academic organizations like MIT and Harvard shows the continued momentum and growth in this space”, says Greta Roberts Roberts, CEO of Talent Analytics, Corp. In what is surely a huge step forward for HR and Workforce analytics adoption, the Talent Analytics blog takes a closer look at this big news!
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