Conventional HR metrics are frequently used in organizations today such as turnover rate, time to fill, etc. However, these are only basic metrics that answer simple questions and at most show changes in internal organizational trends. These metrics can only answer questions of a lagging or historical nature, while this is valuable it offers limited predictive power into the future. As a result, organizations remain in a reactive cycle rather than using analytics as a proactive and strategic tool to make fact-based decision. This Workforce Analytics training will help participants gain the necessary tools to shift from a reactive model to predictive analytics. Make the transition today to a more powerful version of HR analytics training.
Contact us for more information.
2013 Training Calendar
| Training Course | Date | Location |
|---|---|---|
| Workforce Analytics | May 14 and 15 | NY, NY |
| Workforce Analytics – Register | October 15 and 16 | Washington D.C. |
Training Details
Key Questions Answered in this Training
- Is the ROI on Human Capital higher than the ROI for other business capital (i.e., on working capital, invested capital)?
- Is workforce productivity increasing, decreasing or static? How are we performing versus peers?
- Where does the best talent come from? Which businesses or managers are the best talent scouts and coaches?
- Is internal mobility a source of value creation or of turnover and cost at the organization?
- Are leaders effectively managing human capital? Is there a correlation between manager effectiveness and workforce engagement, performance and retention?
Training Targets Professionals in the Following Functions:
- Training and Development
- Talent Management
- Organizational Development
- Workforce Planning
- Workforce Analytics
- Finance
- Strategic Planning
- Human Resource Information System
Training Agenda
Introduction
Section 1: The Business Case for Analytics, What is Analytics, Why is it important?
- The challenge of measuring human capital
- Why measure the human capital or the workforce?
- Linking business, workforce and HR strategy together
- Workforce HR system data in decision making
- Building a business case for analytics
Section 2: Case Studies in Human Capital Analytics
- Analytics potential on productivity, costs and performance
- Analytics and the workforce, largest cost and greatest opportunity
- Case Study: Banking & financial services company: Workforce turnover
- Case Study: Retail company: Sales force effectiveness
- Case study: Real Estate company: Recruiting success profiles
Section 3: Human Capital Analytics and the Employee Life Cycle: Sources of Value
- Recruiting and on-boarding
- Internal mobility, career path, training and development
- Performance, productivity and pay
- Retention and turnover
- Hands on analysis – Example analytics case: Outside hiring vs. Inside promotion
Section 4: Standards in Human Capital and HR
- The need for standards in HR
- Establishing an analytic framework
- Introduction to Human Capital Center of Excellence (COE)
- HR Transaction standards
- HR Classification and structure standards
- HR and human capital reporting standards
Section 5: Human Capital Analytic Process and Methods
- Analytic techniques to solve workforce problems
- Tools to use for human capital analytics
- Data requirements, identifying data needs, gathering data
- Combining disparate data sources
- Segmenting and profiling human capital data
- Using historical data
- Trending analysis
- Assessing HR policies and, procedures on the workforce
- Hypothesis formation and testing (scientific method)
Section 6: Identifying Drivers, and Root Causes
- Root cause identification of workforce issues
- Hypothesis structure and testing
- Simple quantification of business and financial impact
- Hands on Exercise: Problem identification, scientific method, testing and Interpretation
Section 7: Statistics and Advanced Analysis Toolkit
- Analysis toolkit introduction
- Advanced workforce segmentation, finding critical job roles
- Statistical driver analysis – Correlation vs. causation
- Linkage analysis – Linking human capital measure to business results
- Case study examples of advanced analytics
- Project future costs and savings impacts
- Quantify productivity improvement and financial return on investment (ROI)
Section 8: Best Practices and Critical Success Factors
- Communicating with data and visuals
- Analytics success stories
- Case study: Banking & financial services company: Recruiting success profiles
- Change management, communication, working with HR
Section 9: Project Management and Scoping Analytics Projects
- Where to look for potential analytics projects
- How to find analytic projects
- Scoping and sizing project opportunities
- Getting management support and linking to business priorities.
Section 10: Techniques for Analyzing and Visualizing Data
- Communicating with data and visuals
- Selecting proper charts and visuals
- Chart use: Problem identification
- Chart use: Issue insight
- Chart use: Driver for decision
- Telling stories with data
- Advanced storytelling: Combining detailed data, visuals and a qualitative story
Section 11: Metrics and Measurements: Good, vs. Important vs. Critical Metrics
- Human capital metrics for measuring and managing the workforce
- Choosing the best measures of your business
- Benchmarks and targets
- Scorecards for HR and the business
- Choosing the right measures for scorecards
- Critical or key metrics, identification and use
Section 12: Data Quality and Analytics
- Workforce data issues
- Data governance and auditing
- HR data quality: outliers versus bad data
- HR transaction data validity and data consistency
- Hands on Exercise: Analytics and measurement case study
