Predictive Analytics for Human Resources. Wiley and SAS Business Series

  • ID: 2766283
  • Book
  • 176 Pages
  • John Wiley and Sons Ltd
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The step–by–step guide for executing an effective analytics project

We are standing amid the greatest accumulation of data ever in existence, and it is growing exponentially while you read this. The imperative is to turn data into information and then into intelligence.”—From the Preface

“Dr. Jac has been the real deal in Human Capital thought leadership for more than 35 years. He proves it once again by laying out a step–by–step roadmap to analytics in his fifth book on the subject, co–authored with John R. Mattox II. If half as many people buy it as have come to hear him speak about the subject at the HR Technology Conference over the years, you won’t get to read this.”
—Bill Kutik, technology editor for Human Resource Executive for 25 years; father of the 17–year–old HR Technology Conference

“Jac and John write from decades of experience, describing practical steps for human capital managers to get started with human capital analytics. They provide a wealth of very accessible tools, tips, and examples, distilling the best from their unique insights.”
—Dr. John W. Boudreau, Professor of Management and Research Director, Center for Effective Organizations and Marshall School of Business, University of Southern California

Predictive Analytics for Human Resources is a must–read for HR professionals seeking to build a robust analytics practice. Jac and John have provided the HR profession an indispensable guide on how to get started and how to move forward with predictive analytics. If you are serious about building capability in human capital analytics, you will follow the guidance found in Predictive Analytics for Human Resources.”
—Patti Phillips, PhD, President and CEO, ROI Institute

“Fitz–enz and Mattox have applied analytics to predictive analytics. Their work isolates the analytics process and reintegrates it into useful tools for solving business problems. This excellent work is both a primary on the principles of analytics and a codebook on how to use them. Jac continues to evolve this field in creative ways.”
—Dave Ulrich, Rensis Likert Professor of Business, University of Michigan; Partner, the RBL Group

“Jac and John have written the essential book on analytics for human resources. It’s a practical guide on how to design, develop, and maintain an analytics program. If you want to know where to start and how to do it, this is the book for you.”
—Stuart Evans, PhD, Distinguished Service Professor, Carnegie Mellon University–Silicon Valley

“Dr. Jac Fitz–enz is simply a gift to HR leaders who want to be effective in business today. Any HR practitioner living through the dramatic curve jump from too little to too much quantitative workforce data should read this book. It is a practical and insightful manual that will help the reader navigate the critical requirement of transforming data into knowledge that drives performance.”
—Joni Thomas Doolin, CEO and Founder, People Report, a TDn2K Company

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Foreword xiii

Preface xv

Chapter 1 Where’s the Value? 1

Some Basics 1

What Is Analytics? 2

Two Values 4

Analytic Capabilities 4

Analytic Value Chain 6

Analytic Model 8

Typical Application 14

Training Value Measurement Model 15

Inside the Data 16

Notes 19

Chapter 2 Getting Started 21

Go–to–Market Models 22

Assessment 23

Developmental Experiences 23

Financial Connections 24

Sample Case 26

Focusing on the Purpose 26

Present–Day Needs 28

How Human Capital Analytics Is Being Used 29

Turning Data into Information 30

Three Value Paths 30

Solving a Problem 31

Essential Step 31

Prime Question 32

Case in Point 32

Preparing for an Analytics Unit 33

Ten Steps for an Analytics Unit 35

Structure and Team Building 36

Developing an Analytics Culture 37

Notes 37

Chapter 3 What You Will Need 39

Dealing with the C Level 40

Breaking Through 41

Research 41

Recruiting a Sponsor or Champion 42

Making the Sale 43

Selling Example 44

Working with Consultants and Coaches 46

Designing and Delivering Reports 48

Making an Impact 50

Process Management 50

Preparation 52

Notes 54

Chapter 4 Data Issues 55

Efficiency Measures 56

Effectiveness Measures 61

Business Outcome Measures 67

Note 69

Chapter 5 Predictive Statistics Examples 71

Begin with the End in Mind 71

Go Back to the Beginning 74

Who Owns Data, and Will They Share It? 75

What Will You Do with the Data? 77

What Form Is the Data In? 79

Is the Data Quality Sufficient? 80

Note 82

Chapter 6 Predictive Analytics in Action 83

First Step: Determine the Key Performance Indicators 83

Second Step: Analyze and Report the Data 89

Relationships, Optimization, and Predictive Analytics 96

Predictive Analytics 97

Interpreting the Results 102

Predicting the Future 111

Structural Equation Modeling 113

Notes 114

Chapter 7 Predicting the Future of Human Capital Analytics 115

What Does the Future Look Like? 116

Bringing It All Together 126

Predictive Analytics for HR in Action 126

Notes 128

Epilogue 129

Appendix: Example Measures of Efficiency, Effectiveness, and Outcomes 133

About the Authors 135

Index 137

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Jac Fitz–enz
John Mattox II
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