Drawing on big data analytics, provides proven methods and practical tools for HR managers tasked with determining the ROI of human capital initiatives
PROVE THE VALUE OF YOUR HR PROGRAM WITH HARD DATAWhile corporate leaders may well know the value of human capital, they don't always understand the extent to which the HR function contributes to the bottom line. So when times get tough and business budgets get cut, HRdepartments often take the first hit.
In this groundbreaking guide, the cofounders of ROI Institute, Jack Phillips and Patti Phillips, provide the tools and techniques you need to use analytics to show top decision makers the value of HR in your organization.
Focusing on three types of analytics--descriptive,predictive, and prescriptive--Making Human Capital Analytics Work shows how you can apply analytics by:
Developing relationships between variablesPredicting the success of HR programsDetermining the cost of intangibles that are otherwise diffi cult to valueShowing the business value of particular HR programsCalculating and forecasting the ROI of various HR projects and programs
Much more than a guide to using data collectionand analysis, Making Human Capital Analytics Work is a template for spearheading large-scale change in your organization by dramatically influencing your department's overall image within the organization.
The authors take you step-by-step through the processes of using hard data to drive decisions and demonstrate the tangible value of HR.
You know that your department is more than administrative and transactional--that it's an integral player in your company's strategy. Apply the lessons in Making Human Capital Analytics Work and ensure that all other stakeholders know too.
In today's business climate of shrinking budgets and increased scrutiny of departmental value, you need to prove with inarguable data that HR is a strategic partner in the company's pursuit of profit and growth. Making Human Capital Analytics Work shows how to use data to drive decisions and build support for the HR function through the use of analytics. It's the ideal guide for anyone involved directly or indirectly with HR, including: HR Executives -- prove your department's worth to the company Project Funders -- determine the value of what you're investing in Analytics Practitioners -- execute more credible studies and reports Business Managers -- improve your HR support functions Consultants -- get a step ahead of your competitors Increasing automation and outsourcing of the HR function are threatening the benefits delivered by HR departments staffed with smart and passionateprofessionals. If this trend goes unchallenged, very real harm will be done to organizations. Do yourself, your department, and your field a valuable service by reading and applying the lessons of Making Human Capital Analytics Work .
Jack Phillips, Ph.D., is the founder of Performance Resources Organization, now the world's leading consulting firm specializing in accountability issues. The author or editor of more than 200 books and 100 articles, including The Handbook of Training Evaluation and Measurement, he has served as a bank president, Fortune 500 training and development manager, and professor of management at a major state university. His clients in 20 countries include such internationally respected companies as AT&T, Federal Express, Lockheed Martin, Motorola, and Xerox.
CHAPTER 1 The Case for a Logical Approach to Analytics 1 CHAPTER 2 Define the Problem or Opportunity 35 CHAPTER 3 Review the Research and Set the Hypothesis 55 CHAPTER 4 Achieve Business Alignment 73 CHAPTER 5 Plan the Project 87 CHAPTER 6 Collect Data 103 CHAPTER 7 Analyze Relationships, Causation, and Attribution 139 CHAPTER 8 Select the Solution and Set the Objectives 171 CHAPTER 9 Calculate Monetary Benefits, Costs, and ROI 187 CHAPTER 10 Forecast, Predict, Test, and Optimize 223 CHAPTER 11 Report Results and Drive Improvement 255 CHAPTER 12 Manage and Sustain the Human Capital Analytics Practice 273
Notes 291 Index 295
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