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Human Capital Analytics: How to Harness the Potential of Your Organization's Greatest Asset

Hardcover

CAD $72.00

Human Capital Analytics: How to Harness the Potential of Your Organization's Greatest Asset

Gene Pease, Boyce Byerly, Jac Fitz-enz

ISBN: 978-1-118-46676-6 October 2012 256 Pages

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Human Capital Analytics

How to Harness the Potential of Your Organization's Greatest Asset

Is your company getting the most out of its human capital? It's time it did—the human resources industry is finally grasping the value of understanding its human capital and evolving from a shepherd's role to one that adds significant strategic value. Find out what's going on with your workforce, how investments affect it, and how to communicate effectively with all parts of the enterprise with the breakthrough guidance found in Human Capital Analytics.

Building upon the work of coauthor Jac Fitz-enz—the father of human analytics—and his book, Human Capital Metrics for the 21st Century, this well-researched book applies advanced statistical methodology coupled with today's computing power. It focuses on predictive analytics—analytics that not only measure impact but also help optimize and prescribe future investments. This visionary book will inspire you to apply the same tools used to evaluate and improve finance, marketing, and operations investments to human capital investments, with the same rigor.

HR practitioners have begun to embrace analytics at the same time that organizational leaders are demanding increasing accountability from HR. Filled with case studies from leading global organizations, Human Capital Analytics is the timely, groundbreaking resource that will improve your understanding of the power of optimizing your people investments.

Preface xi

Acknowledgments xiii

Introduction Realizing the Dream: From Nuisance to Necessity 1

Chapter 1 Human Capital Analytics 13

Human Capital Analytics Continuum 16

Summary 28

Notes 28

Chapter 2 Alignment 31

The Stakeholder Workshop: Creating the Right Climate for Alignment 33

Aligning Stakeholders 33

Who Are Your Stakeholders? 35

What Should You Accomplish in a Stakeholder Meeting? 37

Deciding What to Measure with Your Stakeholders 41

Leading Indicators 42

Business Impact 44

Assigning Financial Values to “Intangibles” 44

Defining Your Participants 45

Summary 59

Notes 60

Chapter 3 The Measurement Plan 61

Defining the Intervention(s) 62

Measurement Map 63

Hypotheses or Business Questions 66

Defining the Metrics 67

Demographics 68

Data Sources and Requirements 70

Summary 77

Note 77

Chapter 4 It’s All about the Data 79

Types of Data 80

Tying Your Data Sets Together 86

Difficulties in Obtaining Data 89

Ethics of Measurement and Evaluation 90

Telling the Truth 92

Summary 97

Notes 98

Chapter 5 What Dashboards Are Telling You: Descriptive Statistics and Correlations 101

Descriptive Statistics 102

Going Graphic with the Data 103

Data over Time 104

Descriptive Statistics on Steroids 106

Correlation Does Not Imply Causation 108

Summary 115

Notes 116

Chapter 6 Causation: What Really Drives Performance 117

Can You Create Separate Test and Control Groups? 120

Are There Observable Differences? 121

Did You Consider Prior Performance? 121

Did You Consider Time-Related Changes? 122

Did You Look at the Descriptive Statistics? 123

Have You Considered the Relationship between the Metrics? 123

A Gentle Introduction to Statistics 123

Basic Ideas behind Regression 125

Model Fit and Statistical Significance 126

Summary 130

Notes 131

Chapter 7 Beyond ROI to Optimization 133

Optimization 134

Summary 143

Notes 144

Chapter 8 Share the Story 145

Presenting the Financials 147

Telling the Story and Adding Up the Numbers 148

Preparing for the Meetings 152

Summary 152

Notes 153

Chapter 9 Conclusion 155

Human Capital Analytics 156

Alignment 156

The Measurement Plan 157

It’s All about the Data 159

What Dashboards Are Telling You: Descriptive Statistics and Correlations 159

Causation: What Really Drives Performance 161

Beyond ROI to Optimization 162

The Ultimate Goal 164

What Others Think about the Future of Analytics 164

Final Thoughts 169

Notes 169

Appendix A: Different Levels to Describe Measurement 171

Appendix B: Getting Your Feet Wet in Data: Preparing and Cleaning the Data Set 181

Appendix C: Details of Basic Descriptive Statistics 193

Appendix D: Regression Modeling 199

Appendix E: Generating Soft Data from Employees 205

Glossary 209

About the Authors 225

Index 227