Optimize Your Greatest Asset –– Your People. How to Apply Analytics to Big Data to Improve Your Human Capital Investments

  • ID: 3110145
  • Book
  • 224 Pages
  • John Wiley and Sons Ltd
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Discover How Practical Analytics of People Data Can Drive Better Business Strategies!

"There is significant proof that applying analytics and understanding how investments are working significantly improves business outcomes. We now use predictive analytics to help navigate rapidly changing work environments. Big data allows us to capture both structured and unstructured data and turn it into information that enables us to make better–informed decisions."
From the Preface

Optimize Your Greatest Asset Your People gives human resource professionals the information and strategies they need to incorporate advanced analytics in their departments. Author Gene Pease a noted expert on business analytics outlines a framework for optimizing human capital investments through predictive analysis. He shows what it takes to transform an HR department from relying on questionable anecdotes and outmoded surveys to a department that integrates advanced measurement techniques by combining data from multiple systems into a plan of action that improves business results.

Optimize Your Greatest Asset Your People is filled with practical examples and solid advice from successful executives. This vital resource clearly shows how analytic techniques are applied in real–world settings and how this data–driven approach helps leaders make better business decisions. The author includes a review of the latest research on the topic, as well as important considerations surrounding data security and employee trust.

Optimize Your Greatest Asset Your People is a guide for any business leader or HR professional who wants to step into the world of predictive analytics capabilities. Now you can harness the power of big data, leverage machine learning functionality, and make decisions based on reliable analytics.

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Foreword ix

Preface xiii

Acknowledgments xvii

Chapter 1 The Need for Measurement in a Changing Environment 1

Analytics Give Companies a Competitive Edge 3

Everybody s Doing It 3

Transcending Borders 4

Slim Down, Do More 5

Everybody Wins 5

Changing Workforce 6

Who s Working Today? 7

How Are Employers Responding to Generation Z? 10

The Boomers Are Still Here 11

What about Generation X? 12

So Now What? 13

Notes 14

Chapter 2 What Exactly Is Predictive Analytics, and Why Is It Useful? 17

Workforce Planning 19

Workforce Optimization 20

What Can Analytics Do for You? 21

Using Macroeconomic Data at Wells Fargo 23

Reducing Turnover with Unstructured Data 25

Notes 27

Chapter 3 The State of Human Capital Analytics 29

Profiling the Early Adopters 32

Barriers and Key Enablers to Success 38

Notes 40

Chapter 4 From Data to Action 41

The Continuum of Analytics 43

Taking Action 48

Designing the Study 52

Conducting the Study 53

Other Differentiators 55

Notes 57

Chapter 5 The Big Data Conundrum 59

Death by Dashboard 61

What to Do 64

Descriptive Analysis 65

How Much Data Is Big? 66

Ethics and Other Considerations 68

The Career Perspective 69

The New Art of HR 70

Big Data: Passing Trend or Here to Stay? 72

Notes 73

Chapter 6 The Future of Talent Investments 75

Tools and Technology 79

Talent Acquisition and Management 80

Learning Customization 82

The Future Workforce 84

Notes 85

Appendix A 2014 Human Capital Analytics Study (Making Human Capital Analytics Work): October 2014 87

Quick Facts 89

Purpose and Overview of the Study 90

The Organization, Structure, and Operation of Human Capital Analytics Practice 92

Project Selection Types and Use of Analytics 95

Maturity, Progress, and Success 102

Summary 106

Appendix B Driving Talent Development with Data 107

Introduction 109

Understanding Human Capital Analytics 110

The Human Capital Analytics Continuum 113

How to Start a Measurement Strategy 116

When Human Capital Analytics Pay Off 122

Conclusion 123

Sources 125

Appendix C Training Case Studies 127

ACS: Analysis of a Call Center Agent Turnover 129

Chrysler LLC: Sales Consultant Training 134

Chrysler Academy: Sales Manager Training 138

US Bank: Retail Branch Manager Training 142

Sun Microsystems: New Director Training 146

Appendix D Leadership Development Case Studies 151

National Grid: Foundations of Leadership 153

ConAgra Foods: Foundations of Leadership 157

Appendix E Mentoring Case Study 163

Sun Microsystems: University Mentoring Program 165

Appendix F Social Learning Case Study 171

Sun Learning Services: SUN Learning eXchange (SLX) 173

Appendix G Performance Management Case Study 181

VF Corporation: Measuring the Impact of Performance Management Maximizing Performance 183

Appendix H Words of Wisdom from Human Capital Analytics Practitioners 189

About the Author 195

Index 197

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GENE PEASE is a pioneer in the field of Workforce Optimization. He is the Founder and CEO of Vestrics, the leading predictive analytics and workforce optimization platform. Gene has co–authored two other books on human capital analytics and speaks at various industry events on innovative and cutting–edge topics in the HR space.

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