How to create more impact with People Analytics
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The document discusses how to create more impact with people analytics. It provides examples of case studies that demonstrate how organizations have quantified the business value of things like candidate experience, employee engagement, and diversity. It also covers nine dimensions of excellence in people analytics and how building data literacy can help HR professionals better use data and analytics. The overall message is that people analytics can provide valuable insights when used to address specific business problems.
How to create more impact with People Analytics
- 1. HOW TO CREATE MORE IMPACT WITH PEOPLE ANALYTICS David Green | 20th March 2019 | London david.green@insight222.com insight222.com | myHRfuture.com linkedin.com/in/davidrgreen @david_green_uk | @myHRfuture
- 2. Our Mission To put people analytics at the centre of business Our Approach To provide learning, networking, and consulting to build the organisational capability of people analytics functions © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 3. 3 PEOPLE DATA IS THE #1 GLOBAL HR TREND Source: Deloitte 2018 Global Human Capital Trends © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 4. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com 69%of large organisations now have a people analytics team Sources: Corporate Research Forum, Strategic Workforce Analytics (2017), LinkedIn, The Rise of Analytics in HR (2018) Increase (2017-18) in the number of people in EMEA with HR Analytics listed as a skill on their LinkedIn profile 61% © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 5. www.insight222.com @jaferrar | @david_green_uk HOW TO BUILD EXCELLENCE IN PEOPLE ANALYTICS How can I improve my IMPACT? PIC: Ezra Shaw, Getty Images How can I create more VALUE? What should I FOCUS on? © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 6. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com NINE DIMENSIONS FOR EXCELLENCE IN PEOPLE ANALYTICS
- 7. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com • Financial benefits; ROI • Manage employee & workforce risk • Inform & influence business and workforce strategy
- 8. 1 THE BUSINESS VALUE OF PEOPLE ANALYTICS Companies with advanced capability in people analytics have: 30%higher stock prices 79%higher return on equity 56%higher profit margins Sources (l to r): Bersin by Deloitte, Sierra-Cedar, Visier © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 9. Content: ©The Power of People Book: @guenolen @jaferrar @s_feinzigPresentation: © Ochre Rock Ltd | All rights reserved | 7 July 2017 1 Frame Business Questions 2 Build Hypotheses WHY UNDERTAKE THE PROJECT? 4 Conduct Analyses 5 Reveal Insights HOW SHOULD THE PROJECT BE CARRIED OUT? 7 Get your point across 8 Implement and evaluate WHAT WILL RESULT FROM THE PROJECT? 6 Determine recommendations 3 Gather Data Source: The Power of People: Sheri Feinzig, Nigel Guenole and Jonathan Ferrar (Pearson FT Press – 2017) © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com START WITH THE BUSINESS PROBLEM, NOT THE DATA
- 10. 10 CASE STUDY: IDENTIFYING THE COST & CAUSE OF ATTRITION… Source: The Power of People: Sheri Feinzig, Nigel Guenole and Jonathan Ferrar (Pearson FT Press – 2017) 1 i. What factors make associates more or less likely to leave? ii. What could we do about it? iii. What is the financial impact? FRAME BUSINESS QUESTIONS 2 i. Women and diverse employees have higher attrition risk than men ii. Employees who work remotely have higher attrition risk than employees who work from a Nielsen office BUILD HYPOTHESES 1% FALSE $5M COST TRUE ATTRITION IS AFFECTING THE BUSINESS… ATTRITION © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 11. 7,500 customers left Virgin Media as a result of a poor candidate experience £4.4m lost revenue from poor candidate experience £5.6m potential new customer revenue stream by getting candidate experience right Source: https://hros.co/case-study-upload/hros-case-study-virgin-media-candidate-experience-revenu-stream CASE STUDY: QUANTIFYING THE BUSINESS VALUE OF CANDIDATE EXPERIENCE © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 12. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com CASE STUDY: LINKING ENGAGEMENT TO PERFORMANCE 1% EMPLOYEE ENGAGEMENT 0.4% BUSINESS PERFORMANCE 12 Sources: Clarks Case Study – Strategic Workforce Analytics Report (Corporate Research Forum), | Clarks 2016 Annual Accounts £68mANNUAL REVENUE © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 13. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com • Employee experience • Consumerisation and personalisation of insights • Democratisation of data
- 14. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com Source: Accenture | Decoding Organizational DNA: Trust, Data and Unlocking Value in the Digital Workplace (2019) 92% of employees are open to the collection of data about them, but only if it provides personal benefits 64% of employees state that recent scandals about the misuse of consumer data have made them concerned that their employee data could be misused 30% of business leaders think they are very confident they are using workforce data in a highly responsible way +$3Tn The ‘Trust Dividend’ – the amount of revenue growth that exists in public limited companies by using workforce data responsibly WE MUST UNLOCK THE VALUE OF TRUST
- 15. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com Source: TrustSphere CASE STUDY: DIVERSITY – THE IMPACT OF NETWORKS ON PROMOTION Individuals with a stronger network, especially those with strong relationships with individuals higher up in the hierarchy have a higher likelihood of promotion. Do significant differences exist in the networking behaviours of men and women?
- 16. CASE STUDY: WHAT MAKES A ‘GREAT’ MANAGER? MEET 1:1 WITH EMPLOYEES GIVE FEEDBACK HOLDING “OFFICE HOURS” GROWING YOUR NETWORK MINDING YOUR MAILS Source: https://www.linkedin.com/pulse/managers-like-box-chocolates-dawn-klinghoffer/ © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com
- 17. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com • Data literacy (for people data) • HR’s use of data & analytics • Business desire for a data- driven culture
- 18. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com Source: High-Impact People Analytics Study, Bersin by Deloitte (2017)
- 19. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com CASE STUDY: ABN AMRO – HR DATA CRISIS ESCAPE ROOM Source: https://www.myhrfuture.com/blog/2019/1/9/how-to-improve-hrs-data-literacy
- 20. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com Our research identified six areas where HR professionals most want to build knowledge Producing data-driven insights and creating agile organisations to drive business value Understanding, selecting and implementing technology that takes a user-centred approach Managing relationships with key stakeholders, influencing change, and building credibility Source: myHRfuture, HR Skills of the Future (2019)
- 21. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com THANK YOU david.green@insight222.com insight222.com | myHRfuture.com linkedin.com/in/davidrgreen @david_green_uk | @myHRfuture
- 22. © INSIGHT222 LIMITED | CONFIDENTIAL | ALL RIGHTS RESERVED | 2019 david_green_uk insight222.com | myHRfuture.com References • Deloitte 2018 Global Human Capital Trends Report: https://www2.deloitte.com/insights/us/en/focus/human-capital-trends.html (Slide 3) • Corporate Research Forum – Strategic Workforce Analytics: https://www.crforum.co.uk/research-and-resources/research-report-strategic-workforce- analytics/ (Slides 4 and 12) • LinkedIn – The Rise of Analytics in HR (EMEA version): https://business.linkedin.com/content/dam/me/business/en-us/talent-solutions/talent- intelligence/workforce/pdfs/Final_EMEA_Rise-of-Analytics-Report.pdf (Slide 4) • David Green – The rise of People Analytics: https://www.linkedin.com/pulse/rise-people-analytics-david-green/ (Slides 3-6, 10-12) • Jonathan Ferrar – The Nine Dimensions of Excellence in People Analytics: https://www.myhrfuture.com/blog/2018/8/9/nine-dimensions-for-excellence-in- people-analytics (Slides 5-7, 13 and 17) • Visier – The Age of People Analytics: https://hello.visier.com/resources_research-reports_age-of-people-analytics.html (Slide 8) • Nigel Guenole, Jonathan Ferrar and Sheri Feinzig – The Power of People: Learn How Successful Organizations Use Workforce Analytics to Improve Business Performance (Pearson FT Press) (Slides 9 and 10) • HR Open Source - How Virgin Media Turn Candidate Experience Into Revenue: https://hros.co/case-study-upload/hros-case-study-virgin-media- candidate-experience-revenu-stream (Slide 11) • Accenture | Decoding Organizational DNA: Trust, Data and Unlocking Value in the Digital Workplace: https://www.accenture.com/us- en/insights/future-workforce/workforce-data-organizational-dna (Slide 14) • Greg Newman – Moving from Counting Diversity to Measuring Inclusion: https://www.linkedin.com/pulse/moving-from-counting-diversity-measuring- inclusion-greg-newman/ (Slide 15) • Dawn Klinghoffer – Managers are like a box of chocolates: https://www.linkedin.com/pulse/managers-like-box-chocolates-dawn-klinghoffer/ (Slide 16) • Bersin by Deloitte – High-Impact People Analytics: https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/audit/ca-audit-abm-scotia-high- impact_analytics.pdf (Slide 18) • How to improve HR’s Data Literacy: https://www.myhrfuture.com/blog/2019/1/9/how-to-improve-hrs-data-literacy (Slide 19) • HR Skills of the Future, myHRfuture (DUE TO BE PUBLISHED BY 31 MARCH) – Subscribe here: https://www.myhrfuture.com/subscribe (Slide 20,21)