Being analytically driven is no longer optional, especially in HR. Having the ability to use statistics, technology, and analytical skills to help managers and executives make informed decisions about employees or the workforce is a key trait among HRBPs, both in terms of understanding what levers can be pulled to have the greatest impact but also in building business cases for changes or investment.
In the final session of i4cp’s three-part HRBP Development Cohort, Patti Phillips, chair of i4cp’s People Analytics Board, walked through key approaches to enhance your analytical capabilities and apply an ROI focus to HR and the workforce. Topics covered included:
- Identifying critical business issues using descriptive metrics and connecting HR data to those metrics
- Determining causal and correlational relationships to better identify solutions and determine outcomes
- Monetizing talent data to aid in understanding the magnitude of problems and prioritizing solution options
- Communicating the financial implications of talent decisions using facts and data to tell the story, present options and justify recommendations
- Using easy-to-relate to visuals to communicate business issues and solution recommendations
- Using quantitative processes, such as cost of turnover and ROI calculations, to influence decision making about the workforce
- Using data from qualitative processes - such as interviews, focus groups and narrative comments from surveys - to influence decision making about the workforce
- Understanding when to pull in a people analytics expert from an HR center of expertise or from outside the company to help with an analytics situation.
This webinar is a part of i4cp's HRBP Development Cohort - Fall 2019 series. If you are interested in learning more about the cohort, please
contact your membership director