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Predictive Analytics for Human Resources

Predictive Analytics for Human Resources

  • Author:
  • Publisher: John Wiley & Sons
  • ISBN: 9781118893678
  • Published In: July 2014
  • Format: Hardback , 176 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only

List Price: HKD 500.00

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    Create and run a human resource analytics project with confidence

    For any human resource professional that wants to harness the power of analytics, this essential resource answers the questions: "Where do I start?" and "What tools are available?" Predictive Analytics for Human Resources is designed to answer these and other vital questions. The book explains the basics of every business—the vision, the brand, and the culture, and shows how predictive analytics supports them. The authors put the focus on the fundamentals of predictability and include a framework of logical questions to help set up an analytic program or project, then follow up by offering a clear explanation of statistical applications.

    Predictive Analytics for Human Resources is a how-to guide filled with practical and targeted advice. The book starts with the basic idea of engaging in predictive analytics and walks through case simulations showing statistical examples. In addition, this important resource addresses the topics of internal coaching, mentoring, and sponsoring and includes information on how to recruit a sponsor. In the book, you'll find:

    • A comprehensive guide to developing and implementing a human resource analytics project
    • Illustrative examples that show how to go to market, develop a leadership model, and link it to financial targets through causal modeling
    • Explanations of the ten steps required in building an analytics function
    • How to add value through analysis of systems such as staffing, training, and retention

    For anyone who wants to launch an analytics project or program for HR, this complete guide provides the information and instruction to get started the right way.

  • 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

  • JAC FITZ-ENZ, PHD, is founder and Chief Executive Officer of Human Capital Source, Inc. He founded the Saratoga Institute in Santa Clara, California after holding human resource positions at several major technology and financial services companies. He is widely regarded as the father of human capital strategic analysis, having published the first HR metrics in 1978 and the first international HR benchmarks in 1985.

    JOHN R. MATTOX II, PHD, is Director of Research at KnowledgeAdvisors. He is a former Associate Director of Performance Management at KPMG, Manager of Learning Effectiveness at PricewaterhouseCoopers, and a Manager at Arthur Andersen.

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