Overview
Of late, human capital has seen an almost unimaginable recognition as a key function of organizational success, shifting from the more traditional administrative role to becoming a strategic business partner. However, to be progressive in this position, the HR function must develop its ability to measure how its decisions affect the organization before developing well-informed HR policies to solve business problems.
This training program is an intermediate to advanced level human resources management (HRM) and development (HRD) offering, that is both unit standard-based and aligned. The program effectively blends the theory and practice of HRM metrics and data analytics with practical application tools, techniques, process models and frameworks and other ROI performance metrics.
The Strategic HR Analytics and Metrics Program seeks to teach participants how they can influence organisational change around human capital activities by linking evidence-based data to strategy and performance. The training facilitators will provide participants with knowledge to help them drive business results with proven strategies that can be adopted to effectively gather data and leverage metrics and analytics in their organisations.
The sessions herein will help you attain the ability to accurately analyse, outline, gauge, and track HR metrics that are in line with your business strategies. Learners will be capacitated to master the various HRM metrics processes and tools, and to develop an HRM Scorecard to measure the strategic and operational impact and value of the HRM function and practices. The Workshop is inclusive of practical exercises, online diagnostic surveys, and case studies.
Outlines
Defining the fundamental concepts:
- Measures
- Metrics
- Analytics
- Predictive Analytics
- Building a business case for HRM Metrics and Analytics
Identifying and diagnosing HRM Metrics best practices and critical success factors - Best practice principles
- Criticism and constraints
HRM Analytics maturity model
Defining the scope of HRM/D metrics (throughout the HRM value chain):
- Understanding the strategic and business imperative of HRM/D metrics
- Balanced Business Scorecard
- HRM Scorecard
- Strategy Mapping
- Strategic Business Partnering
HRM function/practice efficiency, effectiveness and impact indexes and related metrics (dashboard):
- HRM planning
- Attracting (Recruitment and selection)
- Retaining
- Motivating/Job satisfaction and employee engagement
- Productivity
- HRM processes, systems and technology (efficiency and effectiveness)
- Reading article: Here’s what HRM must do to have the impact that CEOs want (Sullivan)
Data Required by HR Analytics Tools:
Internal Data:
- Employee tenure
- Employee compensation
- Training requirement
- Performance appraisal
- Competent and high-performing employees
- Disciplinary action taken on any employee
External Data:
- Revenue Per employee or cost of hire
- Employee background check
- Employee behaviour patterns in past or outside the workplace
HR Analytics Process:
- Understanding organisational goal
- Identifying the metrics’ alignment with organisational goals
- Collecting and analysing the data
- Chunking data to assess the impact on the organisation
- Revisiting policies and procedures to make amends
HR Analytics Cycle:
- Building and sensitising the teams
- Create an analytical culture by coaching and monitoring the progress
- Implementing HR Analytics on small projects
- Collaborating and consulting with the legal team
- Finalise HR analytics solutions
Benefits of HR Analytics:
- Enable clear and competent staff hiring to achieve the goal of the organisation
- Monitor employee behaviour and adherence
- Improve employee performance and satisfaction
- Reduce turnover rate
- Introduce innovative ideas to increase employee potential
Challenges for HR Analytics:
- Collected data needs to be properly defined and characterised
- Gathering quality and the right amount of data
- No or lack of inclination towards the usage of HR Analytical tools
- Insufficient software and tools lead to insufficient and incomplete outcome
Addressing the Challenges of HR Analytics:
- Learn from organisations and leaders who are successfully leveraging on HR Analytics
- Proactively anticipate what challenges you might face and identify solutions
- Revisit policies and reinvent the wheel for organisational success
Identifying the right tools to match your bespoke needs:
- Look at some of the widely used tools/technologies that successful organisations use
- Consider your budget and organisational goals to select the right tool
- Attend a demo of an extensively used HR Analytics tool
Our values are member centricity, integrity and advocacy.
The Institute of People Management (IPM)