Four For Friday: Why Analytics Should Matter To HR
Every Friday, The DDR shines a light on the best data-centric articles and resources from across the internet, social media, and industry.
In a world where most business functions (and sports!) are becoming more and more data-driven, HR has a “fear factor” when it comes to analytics. Perhaps the biggest problem is that despite knowing how data can help improve their strategies, HR is stuck in the “gut-feeling” mindset that has dominated the industry for most of its existence. To get more widespread adoption of data in HR, leaders need to understand why analytics matter. This is the topic of this week’s Four For Friday.
6 Steps To Getting Started With Analytics In Recruiting (David Green)
Despite the stalled uptake in HR analytics, David Green (along with Josh Bersin) believes that analytics use will begin to grow exponentially. In fact, David believes that in 10 years analytics will be a staple part of HR and talent acquisition. To help HR leaders get started with analytics, David provides the following 6 steps to get started:
- Start with the business problems
- Focus on a quick win
- Don’t obsess about the data
- Make friends with Finance and IT
- Tell a story
- Be bold
Why Talent Analytics Matter (Meghan Biro)
“A newer and possibly more critical area where both qualitative and quantitative data is making a difference is talent analytics. At its most helpful, it takes the guesswork out of hiring the right talent,” says Meghan M. Biro, Founder and CEO of TalentCulture. Adopting and using talent analytics can have profound impacts on the way your talent acquisition team approaches hiring. Meghan goes on to provide the following 6 types of data used to manage a workforce:
- Human capital facts
- Analytical HR
- Human-capital investment analysis
- Workforce forecasts
- Talent value model
- Talent supply chain
Learn more about each of these data types and how Moneyball can help you with analytics in Meghan’s article.
Overcoming HR’s Resistance to Big Data (Kate Smedley)
It has been mentioned time and time again that even though HR leaders understand the value of HR data and analytics, many do not take advantage of it. How can HR overcome its resistance to big data? Kate Smedley says the answer is gradual steps:
- Step 1: Understand your problem
- Step 2: Select a single area to focus on
- Step 3: Understand what your software is capable of
- Step 4: Collaboration
- Step 5: Set high ethical standards for data protection
- Step 6: Understand the metrics your business needs
- Step 7: Keep it in the clouds
- Step 8: Understand the benefits
Learn more about each step in Kate’s blog post.
The Reluctance to Embrace HR Analytics (Recruiting Blogs)
Deloitte’s 2015 Global Human Capital Trends Survey says that 75% of all employers believe that HR analytics is important. “Analytics can allow you to drill down into your past and current hires and see which sources of candidates have resulted in your most successful hires. It also allows you to look closely into the skills and characteristics that your best employees have in common so that you know what to concentrate on for future hires,” says Jay Freeborn. Jay goes on to give some reasons why HR may be reluctant to embrace a data-driven approach, saying that HR has a “fear factor” when it comes to big data and analytics.
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