We’re back again!
People analytics trends, The Power of People, recruiting metrics, more ‘best of’ articles and a very practical case study by McKinsey: This month’s top HR analytics articles provide a great overview of what’s been going on in the HR analytics field. We will start at #5 and work our way down to number 1! Here are this month’s most trending articles.
#5. Research: Are You Ready for People Analytics?
In this article, David Green provides an overview of his learnings from HR Tech World in San Francisco. In the first half of 2017 a few things have happened.
- Interest in people analytics has soared;
- People analytics is now regarded as a core capability for any HR department;
- People analytics underpins efforts to improve the employee experience;
- People analytics is a vital part of organizational design, together with strategic workforce planning and organizational network analysis.
This article provides an overview of the interest in people analytics. Read the full version here.
#4. [Book Review] The Power of People: How Successful Organizations Use Workforce Analytics
We haven’t written much about The Power of People, written by Jonathan Ferrar, Nigel Guenole and Sheri Feinzig. This book review on Blue Focus Marketing got picked up rather well on LinkedIn.
With the mass adoption of analytics collection through Big Data, the Internet of Things, and even wearable device metrics, these days there is enough data available to drown in. The question is: How does it benefit your organization? That’s where The Power of People excels, explaining and demonstrating specific analytics for specific organizational purposes—all while stressing how imperative it is to be purposeful with the information being sought out. Only then can analytics be useful.
As the book states, “No standard methodology exists for undertaking workforce analytics projects…For workforce analytics to impact the business, senior executives need to care about a project, what it reveals, and how it can change the business as a result.”
People analytics is starting to develop into a serious field and this book is yet another example of this. An exciting spoiler that I will inconspicuously insert here, halfway through this article, is that we at Analytics in HR are working very hard with an external writer to release a book that dives into the practical how-to of HR data analytics. We will publish this book somewhere in September!
This book will complement the current books on people analytics with a focus on the technical and data science aspect. Exciting times ahead!
You can find the full review here.
#3. 17 Recruiting Metrics you Should Know About
One of the articles that got picked up rather quickly this month is our own 17 Recruiting Metrics overview. There is a huge demand for information about metrics and how to formulate them and with this article, we wanted to help people do this.
Do you know the difference between time to hire and time to fill? Or do you know how you can measure first-year attrition or quality of hire? All these metrics are discussed and even their formula is given. A few examples:
If you are either looking to create a recruiting dashboard, or you are looking to make your recruiting department more data driven, look no further. This is the article for you. Here are 17 Recruiting Metrics.
#2. The 20 best HR Analytics articles: May & Jun 2017
David Green is the world’s most gifted HR analytics writer. His excellently written articles are always very well researched and a joy to read.
This articles provides a recap of the 20 MUST-read articles from May and June. If you’ve missed any of David’s articles, this a great opportunity to do so.
Examples include Rupert Morrison’s Five mindsets HR needs to get right to deliver business impact, Greg Newman’s brilliant Burnout: how to measure the biggest threat to employee engagement with just four variables and the Special issue on Human Capital Analytics of the Journal of Organizational Effectiveness: People and Performance.
Read David’s full article here.
#1. Using people analytics to drive business performance: A case study
Business cases are really helpful for inspiration about how people analytics can help solve real issues. This case study by McKinsey is about a company looking to increase revenue growth per store and customer satisfaction.
As the picture shows, the team had a few key findings
- The right personality leads to superior performance
- Career development was a more effective reward than variable compensation
- Tenure was not relevant for managers. Their competencies were
- Long shifts, although easier to plan, hurt productivity
These kinds of case studies are an example of the practical application of I&O psychology on employee management.
Read more about the implications and results here.
If you haven’t done so already, check out our HR Analytics Academy! We offer different courses which might interest you