HR analytics empower organizations to use employee data to make better working decisions and improve performance in areas such as attracting top talent, accurately forecasting future staffing needs, and improving employee satisfaction. Join us to learn how to empower your organization to align metrics with strategic business goals, using HR analytics.
Webinar - How to set pay ranges in the context of pay transparency legislation
Hiring in a Candidate Driven Market: People, HR & Analytics
1. People, HR & Analytics
Rodney B. Bolton, SPHR Shelley Trout
With: Moderated by:
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3. About Rodney B. Bolton
Mr. Bolton, as HR Consultant, help's companies to perform transactional tasks in transformational ways. Mr. Bolton
specializes in improving employee morale and motivation, in turn making it more likely that employees will achieve
organization's goals.
Mr. Bolton uses statistics to improve the function of HR. HR and people in general, are extremely random. Statistics
help us understand, capture as well as predict the randomness of HR.
It can help us forecast spikes, ambiguities and hidden aspects of the day-to-day HR processes. This can be especially
beneficial with recruitment, succession, retention and reducing turnover.
Mr. Bolton understands the value of a company's human assets, and the need to ensure that the talent that an
organization has is not just on board but also properly motivated and seen as a valued partner. Mr. Bolton
understands that the role of HR has more and more become that of a strategic partner.
About Shelley Trout
Content Manager and Editor for Human Resources Today & Recruiting Brief at Aggregage. Shelley is also the head of
webinar production at Aggregage.
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Learning Objectives
• Define HR Analytics.
• Practical uses of HRA.
• Understand the value of HRA.
People, HR & Analytics
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Those core functions of HRA are:
• Acquisition,
• Optimization,
• Development, and paying employees within
a business.
People, HR & Analytics
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What is the value of Human Capital?
How do you measure your most important assets?
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• Assessing the value of your Human Capital
(HC),
• The most important asset of any
organization,
• Has historically been difficult.
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• Because you’re assessing an intangible
asset.
• Assigning a value on a balance sheet has
been a long standing challenge as well.
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This is the core reason we need HR Analytics.
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HR analytics refers to applying metrics to HR and your
HR department.
People, HR & Analytics
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• Is to improving everything related to Human Capital
and therefore getting a better Return On Investment (ROI
)
• This also improving the companies bottom line.
The Goal of HR Analytics
People, HR & Analytics
14. 14People, HR & Analytics
What can HR Analytics do to help your business?
• Annualized voluntary turnover rate; and
• Average interviewing costs,
• Average length of placement in months.
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• Average length of service of all current
employees,
• Average length of service of all employees
who have separated,
• Average months to source.
People, HR & Analytics
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0%
0%
50%
0%
50%
Identifies Reasons for Resignations Terminations
Misconduct
Job Abandonment
Resigned without Notice
Performance
Resigned with Notice
People, HR & Analytics
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People, HR & Analytics
Understanding Turnover
• Employees sense a lack of perceived fairness.
• Co-workers complain of being overworked.
• Lack of, or no employee recognition.
• Additional demands being placed on stressed employees.
• Lack of talent development.
• Few salary bumps.
People, HR & Analytics
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Understanding Hiring
• Average sourcing cost per hire.
• Average time employees are in the same job –function.
• Average time to competence.
• Average time to update employee records.
• Average training costs per employee.
• Compensation cost as a percentage of revenue.
• Contingency workers.
People, HR & Analytics
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0
1
2
3
4
5
6
7
8
9
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Total WH EE
Total Driver
Total Truck
People, HR & Analytics
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• Leveraging available employment data can help employers overcome
tradition questions associated with manpower. i.e.,
• Staffing,
• Ratios (goods v. labor) etc.
People, HR & Analytics
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• HR Analytics can assist employers in
improving their bottom line.
• Knowledge is golden.
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• Everything always circles back to
engagement, and
• Retention
• This way you can target employees who fit
your mission, vision and values.
People, HR & Analytics
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To understand this we need to spend some time on
retention and retention modeling.
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What is a retention model ? (Three Parts)
• Employee satisfaction
• Engagement
• Turnover
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TRENDS
In recent years, hiring qualified employees, developing, and
retaining them has been one of the most important issues for
any business or organization.
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HR Analytics Helps
• Improves hiring.
• Makes your company data driven.
• Quantifies HR.
• Sets measuring sticks.
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HRA improves HR by bring in data that makes HR a profit
center.
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Quantifies HR
• It allows you to put a value on:
• Hiring Cost
• Time to hire
• Expenses, etc.
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Sets Measuring Sticks
• Effectiveness of recruiting.
• Value of a specific position.
• Company investment in key positions.
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Summary
If we have met our learning objectives we
are fully aware of:
• HR Analytics
• Data driven HR
• HR as a profit center
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Challenges Facing HR
• Is turning date into action.
• This can be done by making HR Analytics the
driving force behind large and key expenditures.
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Conclusion
With HR Analytics you can really improve your company
is so many critical areas:
• Spending
• Operations,
• and most importantly the bottom line.
• Efficiency adds up to savings.
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Don't Miss the Next Session!
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A Walk In Their Shoes
Angie Verros Shelley Trout
With: Moderated by:
April 26th 2018
11AM PST/ 2PM EST/ 7PM GMT
